A Loyalty Program Is Defined As

question 47

Multiple Choice

A loyalty program is defined as:

• A) A strategy undertaken by a firm to manage the three components of the loyalty circle in order to create a bond with the customer
• B) The emotional and psychological factors that build real commitment
• C) Both A & B
• D) None of the above

Differentiate between trading up and trading down strategies in product repositioning.

Identify and describe various shapes of product life cycles.

Explain the criteria for selecting a good brand name and give examples.

Describe the four branding strategies used by product and brand managers.

---

Definitions:

Higher Power

A spiritual entity or force greater than oneself that individuals may seek connection with, often used in contexts of recovery and personal growth.

Twin Study

A study design in research that compares the similarities among identical and fraternal twins to determine genetic and environmental influences on traits.

Adoption Study

A research method in behavioral genetics, comparing adopted children to their biological and adoptive parents to explore the nature vs. nurture debate.

Family Pedigree Study

A research design in which investigators determine how many and which relatives of a person with a disorder have the same disorder.