Asked by Julian Cintron on Jul 24, 2024
Verified
When Ron complained to his bank's branch manager about the unprofessional behavior of one teller, the branch manager added a code into his accounts alerting all tellers that Ron was a valued, long-time customer and to provide whatever service he requests. The branch manager is using ________ segmentation to retain Ron as a customer.
A) benefit
B) geodemographic
C) psychographic
D) loyalty
E) geographic
Loyalty Segmentation
The process of dividing a customer base into groups based on their loyalty to a brand or company, which can inform targeted marketing strategies.
Geodemographic
The study of populations and their characteristics, such as age, gender, and income, in specific geographic areas for market segmentation purposes.
Psychographic
Pertaining to the study of consumer lifestyles, attitudes, beliefs, and values to understand buying behaviors and preferences.
- Apprehend the value of segmenting customers based on loyalty for the purpose of boosting retention rates and profitability.
Verified Answer
Learning Objectives
- Apprehend the value of segmenting customers based on loyalty for the purpose of boosting retention rates and profitability.
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