A Loyalty Card/program Is a Device That Keeps Track of the Amount

question 14

True/False

A loyalty card/program is a device that keeps track of the amount of purchasing a consumer has had with a given marketer and once some level is reached,a reward is offered usually in terms of future purchase incentives.

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Definitions:

Competitive Business

A business that actively strives for a superior position in the marketplace through strategies like innovation, quality improvement, and customer service enhancement.

Challenges of Growth

The difficulties and obstacles that a company or organization faces as it expands or increases in size.

Oligopolistic

Pertaining to a market structure where a few firms dominate the industry, often leading to limited competition.

Perfectly Competitive

A theoretical market structure characterized by infinite buyers and sellers, homogeneous products, and free entry and exit, leading to optimal output levels and no individual control over prices.