The Increased Profits a Service Firm Realizes from Customer Retention

question 66

Multiple Choice

The increased profits a service firm realizes from customer retention result from all of the following EXCEPT:

• A) Lower costs
• B) Increased volume of purchases
• C) The ability to charge a price premium
• D) Customer churn
• E) Increased word-of-mouth communication

Understanding the basic concepts and definitions within the field of ethics.

Differentiating between various ethical theories such as ethical relativism, cultural relativism, ethical absolutism, and ethical pluralism.

Recognizing the importance and implications of studying ethics, especially within the criminal justice system.

Identifying the branches of ethics, including metaethics, normative ethics, and applied ethics.

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Definitions:

Differentiate

The act of distinguishing or distinguishing between two or more things, often used in mathematics to describe the process of finding a derivative.

Affiliate

To officially attach or connect to an organization or a body.

Identification

The process of associating oneself with specific groups, roles, or causes, or recognizing something as being certain or belonging to a particular category.

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society or culture.