The three types of benefits to organizations of maintaining and developing a loyal customer base are:
A) Economic benefits; customer behavior benefits; human resource management benefits
B) Economic benefits; confidence benefits; social benefits
C) Customer behavior benefits; human resource management benefits; social benefits
D) Special treatment benefits; economic benefits; customer behavior benefits
E) Confidence benefits; social benefits; customer behavior benefits

Question

Quizplus · Accepted Answer

- Economic benefits: loyal customers tend to spend more and make repeat purchases, leading to an increase in revenue and profitability for the organization.
- Customer behavior benefits: loyal customers are more likely to make recommendations to friends and family, leave positive reviews, and provide valuable feedback. This can lead to an increase in new customers and improved brand reputation.
- Human resource management benefits: having a loyal customer base can lead to higher employee satisfaction and retention, as employees feel a sense of pride and motivation in working for a company with a strong reputation and loyal customer base.

The Three Types of Benefits to Organizations of Maintaining and Developing