Which of the Following Is One of the Ways an Organization

question 28

Multiple Choice

Which of the following is one of the ways an organization benefits from maintaining and developing a loyal customer base?

• A) Employee retention
• B) Customers' increasing expectations of more personalized service
• C) A reactive market-growth strategy
• D) The ability to engage in guerilla marketing
• E) Competitor entrenchment

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Definitions:

Usage Of Trade

Established customs and practices in a particular industry that are considered to be an understood part of business agreements.

Sequence

An ordered list or arrangement of items, events, or actions following a specific logical or systematic pattern.

Predominant Factor Test

A legal doctrine used to classify a transaction within the framework of the Uniform Commercial Code (UCC) by determining the main purpose of the contract.

Liberally Administered

A principle or policy applied in a manner that is flexible, generous, or not strictly in accordance with strict rules or formalities.