Firms that make their customers better off get more repeat business and make earn more profits.

Question

Quizplus · Accepted Answer

This statement reflects the fundamental principle of customer-centric business, which is to create value and provide benefits to customers. Firms that prioritize customers' needs and preferences, offer high-quality products or services, and provide excellent customer service tend to have higher customer satisfaction, loyalty, and retention rates. As a result, they have a better chance of getting repeat business, positive word-of-mouth referrals, and increased profits in the long run.

Firms That Make Their Customers Better Off Get More Repeat