ESB Domain 2

It is more cost-effective to keep current customers than to acquire new customers

• True

• False

• I don't know

Financial limitations would be an example of a/an _______in a SWOT analysis

• strength

• weakness

• opportunity

• threat

The main role of a customer service department is to cultivate _______ interactions with customers

• professional

• negative

• entrepreneurial

• positive

A business selling to another business is called

• B2B(Business to Business)

• BB(Business, Business)

• BFB(Business for business)

• none of these

Customer retention rates are found by ?

• subtracting the number of new customers acquired during a period from the number of customers at the end of a period, then dividing by the number of customers from the start of the period and multiplying by 100.

• adding the number of new customers acquired during a period from the number of customers at the end of a period, then dividing by the number of customers from the start of the period and multiplying by 100.

• adding the number of new customers acquired all time , then dividing by the number of customers from the start of the company and multiplying by 100.

• subtracting the number of new customers acquired all time, then dividing by the number of customers from the start of the company and multiplying by 100.

what provides an overview of the marketing plan ?

• executive summary

• business plan

• lean canvas

• none of these options are correct

is a business that sells different products or services but is similar enough to be competitive with another business

• monopolistic competition

• perfect competition

• direct competition

• indirect competition

Secondary data often contains more

• information

• facts

• errors

• personal bias

A target market identifies the________ to which a company markets its products and services

• Distribution channels

• businesses

• customer group

• none of these

A business should have clear ______ on how the customer service team should respond to negative feedback.

• strategies

• guidelines

• services

• process