Research by Marriott Hotels Indicates That Four of the Five

question 41

True/False

Research by Marriott Hotels indicates that four of the five top factors contributing to customer loyalty come into play during the first 10 minutes of service delivery.

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Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Nominal Rate

The interest rate unadjusted for inflation; the face value rate expressed as a percentage.

Real Rate

The interest rate that has been adjusted to remove the effects of inflation, showing the true cost of borrowing.

Economic Rent

A payment made for the use of a good, service, or resource above and beyond what is necessary to encourage its production or supply.