In Many Instances,customers Develop Loyalty to an Organization in Part

question 26

Multiple Choice

In many instances,customers develop loyalty to an organization in part because of costs involved in changing to and purchasing from a different firm.These costs are called:

• A) Financial inertia
• B) Opportunity costs
• C) Switching costs
• D) Fixed costs
• E) Retained costs

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Definitions:

Good Alternative

A suitable or preferable option that serves as a substitute for something else.

Present Alternative

Offering a different option or solution in response to a problem or proposal.

Easy Acceptance

The likelihood of being readily or quickly approved or admitted, often with minimal criteria or examination.

Financial Loss

A decrease in monetary value, often resulting from investments, business operations, or unforeseen expenses.