Which of the Following Statements Is True About Creating Customer

question 10

Multiple Choice

Which of the following statements is true about creating customer loyalty and retention?

• A) Losing a customer means losing the entire stream of purchases that the customer would make over a lifetime of patronage.
• B) Customer delight creates a rational preference and not an emotional relationship with the brand.
• C) The aim of customer relationship management is to focus solely on customer delight.
• D) Losing a customer hardly makes a difference to a company's sales.
• E) The aim of customer relationship management is to focus solely on customer satisfaction.

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Definitions:

Inverse Demand

A representation of the demand relationship that expresses price as a function of quantity demanded, illustrating how prices can vary with changes in demand.

Demand Curve

A graphical representation showing the relationship between the quantity of a good consumers are willing to buy and its price.

Demand Function

A mathematical representation that describes the relationship between the quantity of a good demanded and its price, among other variables.

Inverse Demand Function

A representation of demand that expresses price as a function of quantity, rather than the conventional demand function which expresses quantity demanded as a function of price.