At Gina's Retail Stores, the Posted Policy Reads, "Without Our

question 28

Multiple Choice

At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________.

• A) managing partner relationships
• B) selling new products
• C) attracting "butterflies"
• D) converting "barnacles" to "strangers"
• E) capturing customer lifetime value

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Definitions:

Turnover

The rate at which inventory or assets of a business are replaced or sales are made over a specific period.

Margin

Generally refers to the difference between the selling price of a good or service and its cost, expressed as a percentage of the selling price.

Residual Income

The income that remains after deducting all required costs of capital from operating income, used as a measure of profitability.

Margin

Margin refers to the difference between the selling price of a good or service and its cost of production, usually expressed as a percentage of the selling price.