The Presence of Loyalty Programs Reduces the Switching Costs of a Product

question 3

True/False

The presence of loyalty programs reduces the switching costs of a product or service.

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Definitions:

Sales Performance

A measure of how effectively a company's sales team achieves sales goals.

Job Enrichment

A management strategy that enhances job satisfaction by adding more meaningful responsibilities, challenges, and autonomy to an employee's role.

Scientific-Management Approach

A theory of management that analyzes and synthesizes workflows with the objective of improving labor productivity and economic efficiency.

Human-Relations Approach

A management theory emphasizing the importance of understanding human behavior, social needs, and group dynamics within the workplace.