An Online Clothes Selling Web Site Has a Low Rate

question 88

Multiple Choice

An online clothes selling Web site has a low rate of customer retention. Which of the following can help increase its customer retention?

• A) using uninvited pop-up chat to encourage customers to buy products
• B) using CRM to track customer behavior when they visit the site
• C) promoting the Web site through conventional advertising to gain visibility
• D) building seamless financial workflows

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Definitions:

Diversification

A risk management strategy that involves adding variety to a product portfolio or investments to spread out potential risk.

Positioning

The strategy of defining a brand or product's unique value in the market and in the minds of consumers.

Franchising

A business model wherein a business owner (franchisor) grants to an individual or entity (franchisee) the rights to operate a business under the franchisor's brand and system in exchange for a franchise fee and ongoing royalties.

Foreign Market

This refers to the markets outside the domestic boundaries where a company can sell its products or services, often requiring adaptation to local needs and regulations.