Using the Five Stages of Customer Loyalty to Create Groups

question 30

Short Answer

Using the five stages of customer loyalty to create groups of customers in each stage is called ____________________ segmentation.

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Definitions:

Valued Policy

A type of insurance policy that pays out a predetermined amount in the event of a total loss.

Open Policy

An insurance policy that provides coverage for all shipments or transfers under certain conditions over a specific period of time without the need for individual certificates.

Fair Market Value

The price that a property would sell for on the open market, where both buyer and seller have reasonable knowledge of all pertinent facts.

Increase Of Hazards Clause

A provision in insurance policies that allows the insurer to deny coverage if the insured significantly increases the risk or hazard insured against.