Lionel Smith Ltd.is a traditional men's clothing store.Every fall the owner sends an embossed invitation (much like a wedding invitation)to his regular customers,inviting them to a private reception showing the new fall line of clothes.For Lionel Smith Ltd.,one of the benefits of having established a loyal customer base is:

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Having an established loyal customer base allows Lionel Smith Ltd. to be less concerned about competitors' actions because these customers are more likely to remain loyal and continue to shop at his store despite external factors. This can give the business a certain level of stability and predictability, which can be beneficial for planning and decision-making. Additionally, having loyal customers can also lead to positive word-of-mouth advertising and referrals, which can help to attract new customers and generate more business. The other answer choices are not supported by the information provided in the scenario.