Which of the Following Is a Good Way to Develop

question 106

Multiple Choice

Which of the following is a good way to develop loyalty?

• A) Maintaining confidences
• B) Practicing what you preach
• C) Admitting your mistakes and apologizing
• D) Being conscientious

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Definitions:

Cannibalization

A decrease in the sales figures, earnings, or the market dominance of an existing product due to the launch of a new product by the same manufacturer.

Substitute Product

A product or service that satisfies the same need or function as another in the eyes of the consumer, often leading to competition between brands.

Complementary Product

A product that adds value to another product when used together, enhancing the consumer's experience or utility.

Homogenous

Products, services, or groups that are identical, similar in nature, and indistinguishable from each other in the eyes of the consumer.