The Number of Participants Who Discontinue Their Use of a Service

question 124

Multiple Choice

The number of participants who discontinue their use of a service divided by the average number of total participants is called

• A) churn.
• B) customer retention.
• C) customer lifetime value.
• D) cancellation cost.
• E) customer loyalty.

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Definitions:

Express Warranty

A guarantee made by a seller that a product will meet certain quality and reliability standards.

Product-Identification Label

Labels on products providing information about the manufacturer, brand, and specific details about the product, often used for tracking and identification purposes.

Description of Goods

A detailed account or specification of the physical and sometimes functional characteristics of goods in a contract for sale.

Implied Warranty

A warranty that the law derives by implication or inference from the nature of the transaction or the relative situation or circumstances of the parties.