Why Are Many Retail Firms Interested in Customer Loyalty Cards

question 47

Multiple Choice

Why are many retail firms interested in customer loyalty cards and programs?

• A) Sales are equally divided among heavy,medium,and light users,but they all need slightly different products.
• B) Roughly 20 percent of a firm's customers purchase 80 percent of the sales volume of the product.
• C) Roughly 80 percent of the profit comes from 20 percent of the sales.
• D) Roughly 80 percent of a firm's customers are repeat business.

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Definitions:

Human Relations

The interdisciplinary study focusing on the dynamics of individuals in groups and organizational settings, emphasizing interpersonal and social relationships.

Non-Work Elements

Components of a job or activity that are not directly related to the primary work tasks, often involving breaks, maintenance, or setup time.

Last Frontier

A term often used to describe the final area of exploration, development, or expansion in a specific field or geographical region.

Working-Class Background

Refers to a socioeconomic status or background characterized by families whose members are primarily engaged in manual labour with lower income and educational levels.