Instruction: Please explain and give example/s
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Instruction:
Please explain and give example/s.

Transcribed Image Text:ECONOMIC BENEFITS
One of the most commonly cited
economic benefits of customer
retention is increased purchases over
time; in many industries customers
tend to spend more each year with a
particular relationship partner

Transcribed Image Text:Human Resource Management
Benefits
Loyal customers may also provide a firm with
human resource management benefits. First,
loyal customers may. because of their experience
with and knowledge of the provider, be able to
contribute to the coproduction of the service by
assisting in service delivery: often the more
experienced customers can make the service
employees' job easier.
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