Presence of Loyalty Programs Reduces the Switching Costs of a Product

question 109

True/False

Presence of loyalty programs reduces the switching costs of a product or service.

---

Definitions:

Insurance Proceeds

The money received from an insurance claim, paid out by the insurance company to the policyholder or beneficiary.

Fraud on the Creditor

An act of deceit intended to keep assets from being claimed by creditors.

Life Insurance Policy

A contract between an insurer and a policyholder in which the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Insurance Agent

A professional authorized to sell and manage insurance policies on behalf of insurance companies.