A company decides to start a 'members only' club offering special promotions and regular price discounts.
A)customer retention
B)customer abandonment
C)customer acquisition
D)customer accrual
E)market basket analysis

Question

Quizplus · Accepted Answer

The company's decision to start a 'members only' club with special promotions and regular price discounts is aimed at retaining customers by offering them exclusive benefits. Therefore, the appropriate choice is customer retention (A). Customer abandonment (B) refers to the loss of customers, whereas customer acquisition (C) refers to gaining new customers. Customer accrual (D) is not a term often used in marketing. Market basket analysis (E) is a technique used to understand customers' purchase behavior and recommend complementary products.

A Company Decides to Start a 'Members Only' Club Offering