Asked by
Brady Carter
on Nov 20, 2024Verified
Some banks offer special accounts designed to attract junior high school students. Savings in these accounts are generally small amounts, which cost banks more to maintain than they are worth; however, bankers know that consumers are creatures of habit and hope that these young people will become adult customers. These banks recognize
A) that operational excellence is an important macro strategy.
B) the lifetime value of customers.
C) that product excellence leads to loyal customers.
D) the importance of making decisions based on short-term results.
E) that if customers bring in some revenue, costs do not matter.
Lifetime Value
The total net profit a company expects to make from a customer over the entire duration of their relationship.
Operational Excellence
An element of organizational leadership that stresses the application of a variety of principles, systems, and tools toward the sustainable improvement of key performance metrics.
- Learn about the importance of customer retention and loyalty programs for long-term profitability.
Verified Answer
LM
Learning Objectives
- Learn about the importance of customer retention and loyalty programs for long-term profitability.
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