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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Promises made out of affection generally lack consideration.
a. true b. false
Informed consent is an ethical principal ________
A) applying to the contracts between clients and research agencies. B) applying primarily to syndicate firms. C) dealing with requests for social security numbers from respondents. D) where retailers don't take title to goods until they are purchased by customers. E) requiring researchers to avoid both uninformed and misinformed participation in marketing research projects.