Business, 02.09.2021 20:30 rockinrosh12
A local restaurant prides itself in having a high number of return customers. To build loyalty, the owner of the restaurant offers a dinner (value $20) to any customer who purchases a meal during 10 previous visits. Meals purchased are tracked by stamps on a Loyalty Card. At the end of a month, the owner decides to calculate the customer retention cost.
The data is the following:
Number of customers at Start of Month = 10
Number of Customers at End of Month = 120
Number of New Customers = 40
Value of Free Dinners Redeemed = $240
What was the Customer Retention Cost?
A. $3
B. $12
C. $2
D. $6
Answers: 3
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A local restaurant prides itself in having a high number of return customers. To build loyalty, the...
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