Quick Recovery from Service Failures May Serve as Good Word-Of-Mouth

question 21

True/False

Quick recovery from service failures may serve as good word-of-mouth advertising for the firm.

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Definitions:

Blue Ocean Strategy

A business strategy that focuses on creating new markets and demand, rather than competing in existing markets.

Competitive Advantages

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, brand reputation, and customer service.

Core Competencies

Unique abilities or strengths of an organization that provide competitive advantage and cannot be easily imitated by others.

Target Markets

These are specific groups of consumers or organizations a business aims to serve or sell its products and services to.