List and briefly describe the four customer types based on their levels of satisfaction and loyalty
What will be an ideal response?
a. Loyalist/Apostle – these customers are completely satisfied, have high loyalty, and are very supportive of the company.
b. Defector/Terrorist – these customers tend to be dissatisfied or somewhere in the middle, switch to competitors, and are unhappy with you.
c. Mercenary – these customers have high satisfaction but high switching rates as well. Their commitment to you is low.
d. Hostage – these customers are stuck with you. They may be dissatisfied, but they are highly loyal because there may not be a viable alternative.
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Melody Instruments, Inc. sells musical instruments. On December 31, 2017, after its first month of business, Melody Instruments, Inc. had the following balances in its accounts, listed alphabetically
Accounts Receivable $ 5,000 Accounts Payable 15,000 Advertising Expense 2,000 Building 16,500 Cash ? Common Stock 50,000 Dividends 1,200 Equipment 2,000 Land 70,000 Notes Payable 60,000 Office Supplies 3,400 Salaries Expense 4,000 Service Revenue 72,000 Utilities Expense 4,100 Determine the balance in the cash account and prepare the trial balance. What will be an ideal response
Which of the following statements regarding the cost-of-living rider is NOT correct?
A) The typical cost-of-living rider is provided through a form of term insurance coverage. B) If the face amount is increased through the cost-of-living adjustment, there is typically an increase in the premium. C) A drawback of the rider is that a drop in the Consumer Price Index (CPI) can result in a decrease in the coverage previously added. D) It is not necessary for the insured to demonstrate evidence of insurability to receive the increased coverage provided through a cost-of-living adjustment."