Companies Want to Create ________ in Order to Lock in Their

question 108

Short Answer

Companies want to create ________ in order to lock in their customers.

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Definitions:

Guests

Individuals who are invited to visit or stay in someone's home or are customers in a hotel or other establishment.

Licensing

A business arrangement where one party (licensor) allows another (licensee) to legally use its brand, patent, technology, or product for a specified period in exchange for a fee or royalty.

Stimulus Generalization

A psychological phenomenon where a response to a specific stimulus becomes associated with other stimuli that are similar, leading to the same response despite differences.

Marketing Strategy

A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.