Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps banks to ________.
A) reduce the rate of customer defection
B) make low-profit customers more profitable
C) enhance the growth potential for each customer through cross-selling
D) increase the longevity of the customer relationship
E) focus disproportionate effort on high-value customers

Question

Quizplus · Accepted Answer

By charging fees for once-free services, banks and phone companies can make low-profit customers more profitable. This helps offset the costs of serving these customers and can ultimately increase their value to the company.

Many Banks and Phone Companies Now Charge Fees for Once-Free