Customer Retention Programs Are Based on What Concept

question 6

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 rather than on a transaction-by-transaction basis.
• 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:

Financial Affairs

The management and administration of monetary activities, investments, and financial strategies of an individual or organization.

Pledged Assets

Assets that are offered as security or collateral for a loan or obligation.

Priority

The order of importance or urgency, often used in legal and financial contexts to determine the sequence in which obligations are to be met or rights are to be exercised.