Today, companies are increasingly concerned about customer defection. There are three main steps a company can take to reduce the defection rate. Characterize those three steps
What will be an ideal response?
The three steps that a company can take to reduce defection are:
1. The company must define and measure its retention rate.
2. The company must distinguish the causes of customer attrition and identify those that can be managed better.
3. The company must compare the lost profit equal to the customer lifetime value from a lost customer to the costs to reduce the defection rate.
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______ is sent prior to a message’s delivery as a means of revealing something about the message to follow.
Fill in the blank(s) with the appropriate word(s).
________ refers to the location, time, and occasion where communication occurs.
a. Environment b. Context c. Temporality d. Atmosphere
Explain vendor exploitation
Which one of the following events creates a liability for a business?
A) An obligation to pay for goods purchased on credit from a supplier B) Inventories purchased for cash C) Amounts invested by the owners D) Stock sold to the general public