Most Banks Implement Customer Retention Programs Aimed at Their Best

question 84

Multiple Choice

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in

• A)a product development growth strategy.
• B)an operational advantage.
• C)opportunities for diversification.
• D)increased long-term profits.
• E)more clearly defined market segments.

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Definitions:

Sociologists

Scholars and practitioners who study social behavior, institutions, and structures, aiming to understand how societies function and how individuals interact within them.

Theories

Systematic explanations of phenomena that guide research and understanding by outlining the relationship between variables and predicting outcomes.

Research

A systematic approach of gathering data using an agreed-upon set of methods.

Organic Analogy

The belief that society is like an organism with interdependent and interrelated parts.