A Basic Idea Forming the Foundation of Customer Loyalty for Small

question 21

Multiple Choice

A basic idea forming the foundation of customer loyalty for small firms includes the notion that

• A)superior customer service always leads to customer purchases.
• B)customer loyalty will mean constant customer satisfaction.
• C)small firms possess great potential for providing superior customer service.
• D)customer satisfaction is being ignored by large firms.

Grasp the relationship between the prices of complements and substitutes and their demands.

Understand market dynamics in response to changes in income and distinguish between normal and inferior goods.

Predict market outcomes based on technological improvements or changes in production costs.

Identify the effects of entry or exit of suppliers and changes in substitute goods on market equilibrium.

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Definitions:

Investigate

To carry out a systematic or formal inquiry to discover and examine the facts of an issue, so as to establish the truth.

Void After 90 Days

A phrase typically used on checks or legal documents indicating that the document or check is no longer valid if not used or cashed within 90 days from its date of issuance.

Stop Payment

A directive issued to a bank for the termination of a check or payment still pending processing.

Check Truncation

The process of converting a physical check into a digital form for electronic processing and payment.