"Customer relationship is only present when the customer has emotional loyalty, not just
functional (behavioral) loyalty"
Elaborate the statement above by referring to the Five Es of Customer Relationships by Barnes.
Answers
Emotional loyalty involves a deep, emotional connection between the customer and the brand, leading to long-term commitment and advocacy.
Barnes' Five Es of Customer Relationships framework emphasizes the importance of emotional loyalty in building strong customer relationships. The five Es include Emotion, Engagement, Empathy, Experience, and Equity. Emotional loyalty refers to the customer's emotional attachment to a brand or company, which goes beyond mere satisfaction with the product or service.
Functional loyalty, on the other hand, is based solely on the customer's repeat purchase behavior. It focuses on the customer's rational assessment of the product's functional benefits and convenience. While functional loyalty is important for short-term transactions, it does not create a strong foundation for a long-lasting customer relationship.
Emotional loyalty, driven by positive emotions such as trust, affection, and a sense of belonging, leads to a deeper level of customer engagement. Customers who are emotionally loyal are more likely to actively engage with the brand, seek out interactions, provide feedback, and promote the brand through word-of-mouth recommendations.
The emotional bond between the customer and the brand also enables empathy, as the company can better understand and address the customer's needs and concerns. This empathy fosters a personalized and tailored customer experience, further strengthening the emotional connection. Moreover, emotional loyalty contributes to the perception of equity, where customers feel valued and appreciated by the brand.
In conclusion, while functional loyalty focuses on transactional behavior, emotional loyalty delves deeper into the emotional connection between the customer and the brand. By nurturing emotional loyalty through the Five Es of Customer Relationships, companies can foster long-term commitment, advocacy, and mutual satisfaction, leading to a stronger customer relationship.
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Related Questions
what is the limit of money the u.s. government is authorized to borrow called
Answers
The debt ceiling, also referred to as the borrowing limit, is the maximum amount of money that the United States government is permitted to borrow.
The debt ceiling, which is often referred to as the borrowing limit, is a statutory cap placed by the US Congress on the total amount of national debt that the federal government is permitted to incur. The debt ceiling instead sets a ceiling on how much money the government can borrow in order to pay its spending. When the government reaches the debt ceiling, it is unable to continue issuing Treasury bonds to fund operations and must either increase the debt ceiling or cut spending in order to stay current with its debt payments. Political parties have disagreed on whether to raise the cap or cut spending, making the debt ceiling a divisive topic in recent years.
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a fitness electronics company is a first-mover in wearable fitness trackers. its innovative everyday activity and exercise bracelet has created a monopoly for its product. executives are apprehensive about the company's ability to maintain its competitive advantage because they know that rival companies have competent research and development skills and access to marketing, sales knowhow, and manufacturing capabilities. these rivals are considered:
Answers
The rivals that have competent research and development skills and access to marketing, sales know-how, and manufacturing capabilities will be considered as d. capable competitors.
In the field of business, capable competitors can be described as competitors that have the potential in them to do better and produce more outcomes.
In the scenario above, the fitness electronic company has an idea that its competitors in the market are capable competitors because they have competent research and development skills, access to marketing, and knowledge about sales and manufacturing. Hence, the fitness electronic company works hard to innovate everyday activities to have a competitive advantage as the first mover in wearable fitness trackers so that it can remain better than the capable competitors.
Although a part of your question is missing you might be referring to this question:
A fitness electronics company is a first-mover in wearable fitness trackers. its innovative everyday activity and exercise bracelet has created a monopoly for its product. executives are apprehensive about the company's ability to maintain its competitive advantage because they know that rival companies have competent research and development skills and access to marketing, sales know-how, and manufacturing capabilities. these rivals are considered:
a. complementary assets.
b. barriers to imitation.
c. first-movers.
d. capable competitors.
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Organizational purchasing differs from consumer purchasing in that organizational purchasing ____
A. is influenced more by subconscious and emotional factors
B. usually involves closer relationships between buyers and sellers
C. has lower complexity in product usage
D. is less clearly driven by economics
E. lacks a formal buying process
Answers
Organizational purchasing differs from consumer purchasing in that organizational purchasing usually involves closer relationships between buyers and sellers.
This is due to the fact that organizational buyers are looking for better value, efficiency, and long-term stability from their suppliers. As a result, the relationship between buyers and sellers is often more collaborative and intimate. Additionally, organizational purchasing is more clearly driven by economics than consumer purchasing, since the decisions made by organizational buyers are often based on cost, quality, and other economic factors. Furthermore, organizational purchasing typically has higher complexity in product usage, since organizational buyers must consider the technical specifications of the products they are purchasing. Finally, organizational purchasing is less driven by subconscious and emotional factors than consumer purchasing, as the buying decisions are often made in a logical, analytical manner.
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a natural person who wishes to open an individual account at a brokerage firm is generally permitted to do so upon reaching age:
Answers
A natural person wishing to open an individual account at a brokerage firm is generally permitted to do so upon reaching the age of majority, which is typically 18 or 21 years old, depending on the jurisdiction.
This age requirement ensures that the individual is legally capable of entering into a binding contract with the brokerage firm. Opening an account involves providing personal identification, such as a social security number, and completing an application to verify eligibility.
Once approved, the individual can deposit funds and begin trading stocks, bonds, and other securities through the brokerage platform. It is important for the account holder to understand the risks and responsibilities associated with investing and to make informed decisions to protect their financial interests.
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ownership is a key issue in data ethics. who owns data?1 pointthe law enforcement agencies that enforce data protection law
Answers
Ownership of data can be a complex and nuanced issue, and there isn't one clear answer. In general, data ownership refers to the rights and control over data, including who has the right to access, use, and share data.
In some cases, data may be owned by the individual or organization that created it, such as a company that collects customer data through its website or a researcher who collects data for a study.
In some cases, data may be considered public property and not owned by any one individual or organization. This could be the case for data that is collected by government agencies or other public entities. It is also important to note that laws and regulations can also play a role in determining data ownership.
For example, data protection laws may specify who has the right to access and use certain types of data. In these cases, law enforcement agencies that enforce data protection laws may have the authority to determine data ownership.
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Hartley electronics, inc. , in nashville, produces short runs of custom airwave scanners for the defense industry. You have been asked by the owner, janet hartley, to reduce inventory by introducing a kanban system. After several hours of analysis, you develop the following data for scanner connectors used in one work cell. How many kanbans do you need for this connector?.
Answers
Hartley electronics, inc., in Nashville, produces short runs of custom airwave scanners for the defense industry. You have been asked by the owner, Janet Hartley, to reduce inventory by introducing a Kanban system. After several hours of analysis, you develop the following data for scanner connectors used in one work cell. 62.4kanbans need this connector.
What do you mean by Kanban?Kanban, which means "sign" in Japanese, is an inventory management technique used in just-in-time (JIT) manufacturing to monitor production and place orders for fresh shipments of components and materials.Taiichi Ohno, an industrial engineer at Toyota, created Kanban, which uses visual cues to motivate the activity required to maintain a process flow.Limiting the accumulation of surplus inventory at any stage along the manufacturing chain is one of the key objectives of Kanban.What are the four Kanban rules?Never distribute faulty goods.Take only what is necessary.Produce the precise amount needed.Production should be leveled, fine-tuned, stabilized, and rationalized.Learn more about Kanban here:
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(14%) Let A[1..n] be an array of n positive numbers. Entry A[i] represents the trading price of a stock X on the i-th day (and hence the numbers are ordered chronologically). Write an algorithm max-profit that returns a pair (a, b) such that if one buys stock X on the a-th day and sells it on the b-th day, the maximum profit is made. Give the time complexity of your algorithm in Big-O. Show the derivation of the complexity result.
Answers
To solve this problem, we can use a simple algorithm that iterates through the array and keeps track of the minimum price seen so far and the maximum profit.
The algorithm works as follows: Initialize variables: min_price = A[1], max_profit = 0, buy_day = 1, sell_day = 1. Iterate through the array A from the second element to the last: If A[i] < min_price, update min_price = A[i]. If A[i] - min_price > max_profit, update max_profit = A[i] - min_price, buy_day = index of min_price, sell_day = i. Return the pair (buy_day, sell_day). The time complexity of this algorithm is O(n), where n is the size of the array A. This is because we perform a single pass through the array, comparing and updating values in constant time for each element. Therefore, the algorithm has a linear time complexity.
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how does increase demand for a product help lower its price to consumers?
Answers
Answer:
The four basic laws of supply and demand are: If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
bennett company has a potential new project that is expected to generate annual revenues of $256,700, with variable costs of $141,600, and fixed costs of $59,500. to finance the new project, the company will need to issue new debt that will have an annual interest expense of $21,500. the annual depreciation is $24,000 and the tax rate is 23 percent. what is the annual operating cash flow?
Answers
The annual operating cash flow for Bennett Company's potential new project can be calculated using the given financial information: revenues of $256,700, variable costs of $141,600, fixed costs of $59,500, annual interest expense of $21,500, annual depreciation of $24,000, and a tax rate of 23%.
First, calculate the earnings before interest and taxes (EBIT):
EBIT = Revenues - Variable Costs - Fixed Costs
EBIT = $256,700 - $141,600 - $59,500 = $55,600
Next, calculate the earnings before taxes (EBT):
EBT = EBIT - Interest Expense
EBT = $55,600 - $21,500 = $34,100
Now, calculate the taxes:
Taxes = EBT * Tax Rate
Taxes = $34,100 * 0.23 = $7,843
Subtract the taxes from the EBT to get the net income:
Net Income = EBT - Taxes
Net Income = $34,100 - $7,843 = $26,257
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Frank is an employee of guitar makers, llc. guitar's employee manual states that workers, such as frank, will be dismissed only for good cause. with respect to the employment-at-will doctrine, this is
Answers
Answer: An exception based on contract theory.
Explanation:
Contract theory is an agreement reached by two parties over a set of deal to be entered, these negotiation met guides what the agreement is all about, violators of the agreement would attract extra bodies(Law makers) to come into their decision. At Ilc, if the guitar producers only release their workers based on good cause, it's seen as a contract theory, based on what both parties agreed.
this type of financial institution does not take deposits, but gathers money from charging premiums for coverage. this is a (n) .
Answers
Insurance Company is a type of financial institution does not take deposits, but gathers money from charging premiums for coverage.
What does Insurance Company mean?
An insurance company is a company that provides various types of insurance to both individuals and businesses. They protect policyholders financially against a variety of risks, such as death, disability, illness, and property damage. Insurance companies assess risk and set premiums for insurance policies based on factors such as policy type, insured age, health, and lifestyle.
What does premiums mean?
A "premium" is the amount of money paid by the buyer to the seller for a financial product or service. Insurance, investments, and other financial products are commonly associated with premiums. In the case of bond premiums, they can also refer to the cost of borrowing money.
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ca
‼️‼️ HELP. 15. Bill and Mary Randall deposited their paychecks for $611.33 and
56 $701.45 and a check from their insurance company for $75.25. They
received $150 in cash. What was their total deposit?
Answers
Answer:
$1, 238.03
Explanation:
The total deposit will be composed of
1. Pay checks $611.33 + $701.45 = $1,312. 78
2. Plus Insurance check
= $1,312. 78 + $75.25
=$1,388. 03
3. Minus cash received
= $1,388. 03 - $150
=$1, 238.03
What does it mean to consider logic when prioritizing tasks?
Answers
Explanation:
To consider logic when prioritizing task means: You should order them by how long they take to achieve.
Answer:
Considering logic requires understanding which tasks need to be completed first in order to allow other tasks to become possible to complete. Setting priorities using logic assumes that it will just make sense for some tasks to be completed earlier.
Explanation:
Assume that a monopolist faces the demand schedule given below, and a constant marginal cost of $2 for each unit of output. To maximize profits, this monopolist would produce what number of units of output and charge what price per unit
Answers
Which of the following are valid reasons to deny someone a job?
-The company is not hiring for new positions.
-This job requires someone with a high school diploma.
-The job requires someone be able to speak French.
Answers
Answer:
The first one and last one.
Explanation:
If this could be 2 answers I think it would be both of these. That is because if the company is not hiring, they most likely won't even look at your resume. Also another one is if you don't speak French, than that job is not for you.
Answer:
you left out an answer.
its a,c,d
Explanation:
measure the diameter of a tin in mm and write down the real diameter in mm
Answers
Based on the context of the question and the image, the required real diameter of the tin is 250 mm.
What is the diameter?Diameter is a term. that is used to describe the measurement of the length of a straight line that passes through the center of a circular object, such as a circle or a sphere.
Generally, diameter is defined as the distance between two points on the object's edge that are furthest from each other and that pass through the center of the object.
Therefore, in this case, given that the diameter of the tin in the picture is 10 cm, then the actual diameter of the tin can be calculated as:
Actual Diameter = 2.5 x Picture Diameter
Actual Diameter = 2.5 x 10 cm
Actual Diameter = 25 cm
Thus, to convert the actual diameter to millimeters (mm), we can multiply by 10 and it is depicted as follows:
Actual Diameter in mm = Actual Diameter x 10
Actual Diameter in mm = 25 cm x 10
Actual Diameter in mm = 250 mm
Therefore, in this case, it is concluded that the correct answer is 250 mm.
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The greater the risk associated with an investment, the greater is its _____. book value market appeal expected return price
Answers
Answer:
expected return
Explanation:
Microeconomics is the study of the behavior of individuals and companies and the choices they make in the economy
Answers
Answer:
Microeconomics studies the decisions of individuals and firms to allocate resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets but leaves the study of economy-wide aggregates to macroeconomics
, environmental trends and Ethical trends affect a pharmacy business? I need one whole paragraph for them
Answers
The negative impact of the production of pharmaceutical products on the natural environment is well known. However, this remains largely unregulated, meaning the extremely toxic impact it has on both animals and humans continues with no clear end in sight.
International organisations and the pharmaceutical industry have begun to notice that the detrimental impact pharma products have on the environment on a global scale.Pharmaceutical products enter the environment at various stages of their life-cycle, but particularly during the production phase. One of the main threats is that discharging antibiotics into the environment can promote the natural development of antibiotic-resistant pathogens that are harder to treat. Lord Jim O’Neill noted this trend in his 2016 UK government-funded independent Review on Antimicrobial Resistance.Although it is a global issue, like other environmental issues, pharma pollution more directly and seriously affects those living near production plants whose water and food sources are contaminated with waste pharma products.Health Care Without Harm (HCWH) Europe runs the Safer Pharma campaign to raise awareness of the negative relationship between pharma and the environment and challenge the healthcare industry to clean up its production.The production of both active pharmaceutical ingredients (APIs) and finished dose antibiotics is concentrated in specific locations so the resulting point, source pollution, is in incredibly high concentrations and encourages the development of drug resistance,” says HCWH Europe pharmaceuticals policy officer Dr Adela Maghear. “This practice has a detrimental impact on vulnerable populations living near manufacturing facilities and wastewater treatment plants in these countries.The pollution of pharma products into the environment also adversely affects animals, particularly fish living in contaminated water. For example, a report published in science journal Nature in 2009 noted that ‘many of Europe’s rivers are home to male fish that are ‘intersex’ and so display female sexual characteristics, including female reproductive anatomy. Some males also produce vitellogenin, a protein normally.
ABC Book Company has $1 million in cash, $8 million worth of property, and $50,000 worth of equipment and furniture. What is the total value of ABC Book Company’s assets?
Select One:
a. $9,050,000
b. $1,000,000
c. $9,000,000
d. $50,000
Answers
Answer:
a. $9,050,000
Explanation:
You just need to add that all together
The business environment involves transforming ___
Select one:
a. Products to make profit
b. Resources into products to meet the needs of the organisation
c. Inputs into outputs to meet the needs of the customers
d. Inputs into outputs to meet the needs of the environment
Answers
Answer:
a) products to make profit
Explanation:
Do not overthink your answer. The goal of business is to make profit, and many companies are not involved in being good for the environment or even their customers.
What type of special title insurance policy is used when a property is being purchased through a land sales contract, purchase money mortgage, or purchase money trust deed
Answers
Answer:
A vendee policy.
Explanation:
A vendee policy is a type of special title insurance policy that is used when a property is being purchased through a land sales contract, purchase money mortgage, or purchase money trust deed.
This ultimately implies that, a vendee policy is an equitable buyer's lien issued to the purchaser of a real estate property in order to protect them in terms of repayment of the money being made as payment. It serves as a form of security for the buyer of a real estate property and as such it is enforceable by a court of competent jurisdiction.
If the price of a pencil is $1.00 and the price of a pen is $2.00, what is the relative price? If the pencil
is $1.50 and the pen is $3.002 If the pencil is $2.00 and the pen is $3.00?
Answers
If the price of a pencil is $1.00 and the price of a pen is $2.00. 3 dollars will be the relative price.
$1 + $2 = $3
A price relative is the ratio of the charge of a selected product in a single period to the rate of the identical product in a few different period. In buying power parity (PPP) comparisons a rate relative refers to the ratios of the equal product in two international locations.
The nominal price of a great is its value in phrases of cash, including bucks, French francs, or yen. The relative or actual rate is its fee in terms of some other suitable, carrier, or package of goods.
Relative-price movements convey critical facts approximately the scarcity of specific items and offerings. A growing relative charge suggests that call for is outstripping deliver (or that supply is falling at the back of call for), while a falling relative price denotes just the other.
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which of the following is the best example of shaping? 1 point (a) a child receives five dollars each time he cleans his room. (b) an employee receives a termination notice after coming to work late every day over a period of three months (c) a child gets candy from a dispenser one time but gets nothing from the dispenser the next two times. (d) a teacher rewards a student for sitting quietly for ten minutes on monday, fifteen minutes on tuesday, twenty minutes on wednesday, and thirty minutes on thursday. (e) a rat receives a mild shock each time it tries to open the door of its cage.
Answers
Answer:
A teacher rewards a student for sitting quietly for ten minutes on Monday, fifteen minutes on Tuesday, twenty minutes on Wednesday, and thirty minutes on Thursday.
Explanation:
You are offered a trend report for purchase at $500. Last year you overbought T-shirts by 300 units at $5 each and had to donate them. If the trend report eliminates this overbuy, is it worth the price?
Answers
If the purchase of the trend report will eliminate the overbuy, it is worth the price.
The overbuy cost the company $1,500 last year. The cost of the trend report is $500. Though, the cost of under-supply could help in making better decisions.
Data and Calculations:
Cost of trend report = $500
Cost of T-shirts overbought = $1,500 (300 x $5)
Thus, if using the trend report eliminates the overbuy, it is certainly worth it.
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Answer: Yes. It is worth it
Explanation:
portfolio a: a $100 face-value 2-year risk-free bond with 4% semi-annual coupons. coupons are paid on january 1 and july 1. portfolio b: a $100 stock with expected 3% annualized dividends paid quarterly. dividends are expected to be paid on january 1, april 1, july 1, and october 1. portfolio c: a $100 cryptocurrency etf with expected 4% annualized dividends paid quarterly. dividends are expected to be paid on january 1, april 1, july 1, and october 1. portfolio d: a $100 mortgage with two years remaining and 8 payments remaining. the interest is 3% annual interest. assume the interest is the same amount for each quarter (does not depend on the number of days). mortgage payments are quarterly. question 2 which cash flow(s) have an easy-to-identify discount rate? give at least 2 reasons.
Answers
With a bond quote of $104.0554, if we add a basis point to the yield, we get the value of Bond B as: P = $364.899 + $675.239 = $1,040.139.
How do bonds work?When they need to raise money, businesses and governments issue bonds. By purchasing a bond, you are effectively lending the issuer money, and in return they pledge to repay you the face amount of the debt on a particular date as well as make periodic interest payments to you along the way, typically twice a year.
Bonds—do they make wise investments?Bond yields have significantly risen, giving investors a chance to make a respectable living. By the end of 2023, inflation will likely be around 3.5%, but U.S. Treasuries with a 10-year maturity are already earning more than that. Their adjusted, or "actual," yield may therefore start to increase.
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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A list of reasons on why could it take 36 years and $61,060 to pay off a $10,000 credit card dept.
Help I need the answer fast
Answers
Answer:
This is due to compound interest on the credit card bills.
Explanation:
Credit card debt of $10,000 is repaid when its due. The bank lends the credit card amount and then charges interest on the debt amount. The compound interest is added to the debt amount and then future value of the debt is greater than the present value.
Fill in the blank. Those who borrow money are on the______________________ the financial market.
A. Price side
B. Supply side
C. Control side
D. Demand side
Answers
Answer:
Demand side
Explanation:
I am conducting a survey as a project. I need ur help Which one you like 1. Ferrari 2. Lamborghini 3. Mclaren and why?? ( If you couldnt give your choice as an answer, then write it in the comment box below the question )
Pls help
Answers
Answer:
Explanation:
Compared to the McLaren, the Lamborghini has less power, a heavier engine, and less active aerodynamic designs. This allows the Huracán Performante to be an excellent supercar with extreme sounds, feels, and the excitement of a Lamborghini, but in performance the McLaren is superior.