Leaky bucket diagram

"The leaky bucket theory The leaky bucket theory is the model that seeks to describe the process of customer gain and loss, otherwise known as customer churn . Customer retention is one of the key concepts in relationship marketing. Most companies concentrate on recruiting new customers to replace customers who move on, rather than seeking to retain customers." [Blythe J. Key Concepts in Marketing. 2009. knowledge.sagepub.com/ view/ key-concepts-in-marketing/ n5.xml]
"Customer attrition, also known as customer churn, customer turnover, or customer defection, is the loss of clients or customers.
Banks, telephone service companies, Internet service providers, pay TV companies, insurance firms, and alarm monitoring services, often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the "...cost of retaining an existing customer is far less than acquiring a new one." Companies from these sectors often have customer service branches which attempt to win back defecting clients, because recovered long-term customers can be worth much more to a company than newly recruited clients." [Customer attrition. Wikipedia]
The example "Leaky bucket diagram" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Marketing Diagrams solution from the Marketing area of ConceptDraw Solution Park.

This circle diagram sample was redesigned from the Wikimedia Commons file: Research cycle.png. "Some of the basic elements of the scientific method, arranged in a cycle to emphasize that it is an iterative process." [commons.wikimedia.org/ wiki/ File:Research_ cycle.png]
This file is licensed under the Creative Commons Attribution 2.0 Generic license. [creativecommons.org/ licenses/ by/ 2.0/ deed.en]
"The scientific method is a body of techniques for investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge. To be termed scientific, a method of inquiry must be based on empirical and measurable evidence subject to specific principles of reasoning. ...
Four essential elements of the scientific method are iterations, recursions, interleavings, or orderings of the following:
(1) Characterizations (observations, definitions, and measurements of the subject of inquiry).
(2) Hypotheses (theoretical, hypothetical explanations of observations and measurements of the subject).
(3) Predictions (reasoning including logical deduction from the hypothesis or theory).
(4) Experiments (tests of all of the above)...
A linearized, pragmatic scheme of the four points above is sometimes offered as a guideline for proceeding:
(1) Define a question.
(2) Gather information and resources (observe).
(3) Form an explanatory hypothesis.
(4) Test the hypothesis by performing an experiment and collecting data in a reproducible manner.
(5) Analyze the data.
(6) Interpret the data and draw conclusions that serve as a starting point for new hypothesis.
(7) Publish results.
(8) Retest (frequently done by other scientists).
The iterative cycle inherent in this step-by-step method goes from point 3 to 6 back to 3 again." [Scientific method. Wikipedia]
The circle diagram example "Research cycle" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Target and Circular Diagrams solution from the Marketing area of ConceptDraw Solution Park.
www.conceptdraw.com/ solution-park/ marketing-target-and-circular-diagrams