Pricing May Lure a Customer, but Will Not Retain the Customer

question 68

True/False

Pricing may lure a customer, but will not retain the customer in the long run because competitors can always duplicate pricing and discounts.

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Definitions:

Standardization

The process of making something conform to a standard in order to ensure consistency and compatibility.

Clan Culture

A type of organizational culture that emphasizes family-like relationships, where loyalty, tradition, and values are cherished.

Formality

The degree of adherence to established conventions, rules, or ceremonial procedures.

Hierarchical Coordination

The arrangement and management of tasks and responsibilities across different levels of an organization to achieve effective operation.