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

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Definitions:

Collective Bargaining Agreements

Legal contracts between employers and workers' unions outlining wages, hours, benefits, and working conditions.

Rank and File Approval

The process by which ordinary members of an organization, particularly a union, endorse decisions or policies, typically through voting.

Pattern Bargaining

A labor negotiation strategy where the terms agreed upon in one bargaining unit or company serve as a model for negotiations in others.

Concession Bargaining

A negotiation process in which the labor union agrees to give up certain benefits or conditions in exchange for something else from the employer.