Attracting and Retaining Loyal Customers Is the Most Important Issue

question 62

True/False

Attracting and retaining loyal customers is the most important issue for e-tailers because customer loyalty can lower marketing and advertising costs,transaction costs,customer turnover expenses,and failure costs such as warranty claims.

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Definitions:

Performance Improvements

Performance improvements involve the enhancement of work processes, efficiency, and outputs in both individuals and organizations, often through strategic changes, training, or adopting new technologies.

Product Innovation

The process of developing and introducing new or significantly improved goods or services to meet consumer or market needs.

Practicality

The aspect of being realistic, feasible, and focused on what is achievable and sensible in real-world situations.

Financial Viability

The ability of an entity to generate sufficient income to cover its expenses and sustain its operations over time.