Business Management 3.02 LAP 017

The key to business success is

• increasing sales on a quarterly basis

• creating new products

• beating the competition

• developing long-term customer relationships

Customer trust can provide a business with

• a competitive advantage

• more effective advertising campaigns

• discounts on raw materials

• better credit terms

When a company delivers a product on time, it is building customer trust by

• keeping information safe and private

• displaying appropriate knowledge

• keeping promises

• being transparent

Jaimie calls a plumber to fix a broken sink. The plumber knows exactly what the problem is and repairs it quickly and efficiently. This plumbing business has built trust with Jaimie by

• being transparent

• using customer information wisely

• keeping promises

• displaying technical competence

A bakery accidentally placed the wrong goods in the gluten-free case, causing some customers to get sick. The owner of the bakery admitted the mistake, apologized, and offered complimentary gluten-free goods to those customers for the rest of the year. This is an example of a business attempting to build customer trust by

• using customer information wisely

• being transparent

• keeping promises

• keeping information safe and private

A fitness center keeps its clients' credit card information on file so it can charge their monthly fees. No client has ever had her/his credit card information lost by or stolen from this business. This is an example of building trust by

• keeping information safe and private

• being transparent

• displaying appropriate knowledge

• keeping promises

To build trust, a business should use customer information to

• share with other businesses

• send frequent emails

• make money

• personalize customer experiences

When an employee isn't sure whether to put the business or the customer first, s/he is facing an ethical dilemma involving

• consistency

• loyalty

• transparency

• privacy

When protecting customer privacy, a business has more ethical obligations than it has __________ obligations.

• financial

• social

• legal

• organizational

A business is legally required to create a privacy policy and

• share it with customers

• publish it online

• have customers sign it

• have it approved by the government