Customer Service Representatives Can Use an Individual's Lifetime Value to Determine

question 85

True/False

Customer service representatives can use an individual's lifetime value to determine how to interact with a customer.

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Definitions:

Reciprocity

A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation.

Mere-Exposure Effect

A mental effect in which individuals naturally favor items or concepts they recognize due to their familiarity.

Halo Effect

A cognitive bias where the perception of one positive trait in an individual leads to the assumption of other positive traits or abilities.

Self-Serving Bias

A cognitive bias that involves attributing positive events to one's own character but attributing negative events to external factors.