Some Banks Have Begun Offering Special Accounts Designed to Attract

question 137

Multiple Choice

Some banks have begun offering special accounts designed to attract junior high school students.These kids save in such small amounts that the accounts cost banks more to maintain than they are worth.But bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers.These banks recognize

• A) that operational excellence is an important macro strategy.
• B) the lifetime value of customers.
• C) that product excellence leads to loyal customers.
• D) the importance of making decisions based on short-term results.
• E) that as long as customers bring in some revenue,costs do not matter.

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Definitions:

John Porter

A Canadian sociologist best known for his significant contributions to the study of social stratification, class, and mobility, especially through his seminal work "The Vertical Mosaic."

Multicultural Policy

A directive or approach adopted by an organization or government to respect and cater to the diverse cultural backgrounds within a society.

Cultural Diversity

The presence of a variety of cultural or ethnic groups within a society, contributing to a range of experiences, values, and worldviews.

Equity and Inclusion

Principles aimed at ensuring fair treatment, access, opportunity, and advancement for all individuals, while striving to identify and eliminate barriers that have prevented the full participation of some groups.