What Is Customer Alchemy

question 17

Multiple Choice

What is customer alchemy?

• A) Increasing the data collection from only platinum and gold customers
• B) Listening to customers and altering loyalty programs to better satisfy their needs
• C) Converting customers from platinum to gold
• D) Converting customers who are loyal to other retailers
• E) Increasing the sales made to good customers

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Definitions:

Sales Revenue

The total amount of money generated from the sale of goods or services before any expenses are deducted.

Merchandising Company

A business that purchases goods in a finished condition for the purpose of resale without further manufacturing.

Investment Revenue

Income generated from investing financial assets, including dividends, interest, and capital gains.

Gross Profit

The financial metric determined by subtracting the cost of goods sold from revenue, representing the profit a company makes after accounting for the costs directly associated with production.