Ford Motor Company Has Set a Target of Increasing Customer

question 188

Multiple Choice

Ford Motor Company has set a target of increasing customer retention from 60 percent to 80 percent.Ford executives say that each additional percentage point is worth __________ in profits.

• A)$100,000
• B)$1 million
• C)$10 million
• D)$100 million
• E)$1 billion

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Definitions:

Good Or Service

Any commodity or activity that can be offered by one party to another, which is capable of satisfying a need or want.

Free-Market Economic System

An economic system where prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.

Theoretical Ideal

A concept or model that represents a perfect scenario or condition, which serves as a benchmark for comparison.

Government Interference

Refers to actions by a government that affect the economy, individual freedoms, or market operations, often seen in regulations or policies affecting businesses and personal liberties.