BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following should be goals in managing a company’s customer base?
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reduce customer defection
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terminate low-profit customers
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focus on high-profit customers
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increase customer longevity
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Explanation:
Detailed explanation-1: -Customer retention objectives include forming lasting relationships with consumers and building brand loyalty. Ideally, they will turn into brand advocates, spreading awareness of your business within their own circles of influence.
Detailed explanation-2: -Start a customer loyalty program. Brand loyalty programs, sometimes referred to as customer retention programs, are an effective way to increase purchase frequency because they motivate customers to purchase more often in order to earn valuable rewards.
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