At Gina's Retail Stores, the Posted Policy Reads, "Without Our

question 28

Multiple Choice

At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist." Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less than satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on ________.

• A) managing partner relationships
• B) selling new products
• C) attracting "butterflies"
• D) converting "barnacles" to "strangers"
• E) capturing customer lifetime value

---

Definitions:

Collusion

A secretive agreement between parties to cooperate for fraudulent, illegal, or deceitful purposes, often noted in economics as companies conspiring to fix prices or manipulate market conditions.

Rival Firms

Companies that compete within the same market for customers by offering similar products or services.

Set Prices

Refers to the determination or establishment of the amount at which goods or services will be sold.

Game Theory

A branch of mathematics and economics that studies strategic interactions among rational decision-makers.