PowerCruise,a holiday cruise firm,recently offered its existing customers an extension of two years in their membership without any additional charges.By doing this,which competitive strategy is PowerCruise implementing?

Question

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PowerCruise is implementing a lock-in strategy by offering an extension of two years on membership without any extra charge to their existing customers. This strategy aims to retain customers and make it less likely for them to switch to a competitor, ultimately increasing customer loyalty.

PowerCruise,a Holiday Cruise Firm,recently Offered Its Existing Customers an Extension