The Best Action to Take to Resolve a Customer Complaint

question 46

Multiple Choice

The best action to take to resolve a customer complaint is to:

• A)schedule a meeting with the customer
• B)pacify the customer by listening
• C)exceed customer expectations
• D)provide the customer with training
• E)encourage the customer to join a loyalty program

Apply the principle of target costing to project desired profits and set pricing strategies.

Determine the economic value to the customer and how it influences pricing strategies.

Understand the impact of fixed and variable costs on net operating income.

Analyze the relationship between price change percentages and required sales volume changes to maintain net operating income.

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Definitions:

Efficient Markets Hypothesis

The theory that all available information is fully reflected in asset prices, meaning that it's impossible to consistently achieve higher-than-market returns.

Firm-Specific Risk

Risk that affects only a single company

Market Risk

The possibility of an investor experiencing losses due to factors that affect the overall performance of the financial markets.

Diversification

A risk management strategy that mixes a wide variety of investments within a portfolio to minimize the impact of any single asset's performance on the overall portfolio returns.