Customer Retention Programs Are Based on What Concept

question 53

Multiple Choice

Customer retention programs are based on what concept?

• A) Customer excellence is the easiest macro strategy to follow.
• B) Customer relationships should be viewed from a lifetime value perspective.
• C) It is important to maximize profits in the first few months of a customer relationship.
• D) Segmentation,targeting,and positioning analysis should not be rushed.
• E) Firms must spend large amounts of money to retain customers.

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Definitions:

Taxes Collected

The total amount of money received by a government from individuals, corporations, and other entities as compulsory charges imposed on income, property, sales, etc., for public financing.

Equity

The concept of fairness in economics, which can refer to the distribution of wealth, income, or resources within a society.

Efficiency

The optimal use of resources to achieve the desired ends with minimal waste or expense; often relates to economic efficiency where resources are allocated in a way that maximizes the net benefit to society.

Tax System

The structured method and principles a government uses to collect taxes from individuals and businesses, which can vary in complexity and types of taxes imposed.