Loyal customers
a. are always more profitable than transient or transaction-oriented customers.
b. should be retained at all costs.
c. may cost more to serve than transaction-oriented customers.
d. have a cost to acquire that exceeds the cost to retain.
e. rarely increase their purchases from the selling company over time.
C
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A growing population does not mean growing markets unless ________
A) the people are under a democratic system of government B) there is common ownership of all resources C) people have sufficient purchasing power D) there is adequate governmental intervention in the market E) the government has a budget surplus
The objective of exploratory research is to explore or search through a problem or situation to provide insights and understanding (Table 3.2 in the text)
Indicate whether the statement is true or false
Ratios are most useful in identifying
A) causes. B) differences. C) relationships. D) trends.
How is the price elasticity of demand calculated?
A) averaging previous demand levels with new demand levels B) dividing percentage change in quantity demanded by percentage change in price C) dividing the new quantity demanded by the percentage change in price times 100 D) multiplying the percentage change in quantity demanded by the percentage change in price E) dividing the percentage change in price by the percentage change in quantity demanded