How does the concept of customer stickiness relate to the 80/20 rule?
What will be an ideal response?
According to the 80/20 rule, 20 percent of purchasers account for 80 percent of a product's sales. In other words, a relatively small group of purchasers makes up the majority of sales. Customer stickiness is a concept used to actively target the 20 percent of highest-volume purchasers to encourage customers to follow through on purchases, buy repeatedly, and recommend the product to others. Marketers can encourage customer stickiness, or a strong bond to a brand, through designing marketing that rewards customer loyalty.
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Vegan restaurants are a good example of which strategy?
a. low-price provider b. differentiation c. market-niche d. brand image
Jessica sells exercise equipment to health clubs and similar facilities. During a sales call, her prospect says, "Our clients are quite happy with the results they are getting from the use of our current equipment." This is an example of a ________ objection.
A. stalling B. dodging C. process D. hidden E. product
While ethical behavior is important for everyone in an organization, why is it especially important for leaders?
What will be an ideal response?
Which of the following is not a good guideline for documentation?
A) Include documentation of any unpublished source in the narrative. B) If you mention a certain study twice on the same page, you need not cite it more than once. C) Include enough documentation in your citation that your reader can locate the source. D) Carefully document facts that are common knowledge to the reader. E) Facts that can be verified easily do not need to be documented with source citations.