Which of the Following Is Most Likely to Occur During

question 6

Multiple Choice

Which of the following is most likely to occur during the maturity stage of the retail life cycle?

• A)Competitors become obsolete as newer ways of doing business emerge.
• B)Profits are low due to development costs.
• C)Declining competition makes it easier to maintain customer loyalty.
• D)The retailer fundamentally changes to meet customers' new needs.
• E)Prices are cut.

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Definitions:

Customer Service Strategy

A plan designed to improve how a business interacts with its customers, aiming to enhance satisfaction and loyalty.

Order Cycle

The sequence of events from the moment a customer places an order to the delivery of the product or service.

Functions

In the context of business and technology, functions refer to distinct tasks or operations that a system, department, or software is designed to perform.

Customer Relationship Management (CRM)

The process by which companies get new customers, keep the customers they already have, and grow the business by increasing their share of customers’ purchases.