Which of the Following Is True of Customer Retention

question 86

Multiple Choice

Which of the following is true of customer retention?

• A) It focuses on increasing customers' cognitive dissonance.
• B) It focuses on satisfying prospective customers to make a sale successful.
• C) It handles problems that crop up after a sale.
• D) The CRM aspect of customer retention is based on short-term monitoring of customers.

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Definitions:

Footnotes

Additional information provided at the bottom of financial statements, explaining or giving context to the figures presented.

Warranty Accrual Method

An accounting method that involves setting aside an estimated amount to cover future warranty claims based on sales volume.

Estimated Liability

A financial obligation that is anticipated but the amount and/or timing is uncertain, requiring estimation based on best information available.

Warranty Repairs

Services provided to repair or fix products covered under a warranty at no charge to the customer, typically within a specified time period after purchase.