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How does losing a customer affect the business according to the text?
How does losing a customer affect the business according to the text?
- It results in immediate closure of the business
- It causes an increase in customer loyalty
- It has a ripple effect, impacting 8 to 10 other potential customers (correct)
- It leads to a decrease in employee benefits
What is the main concern associated with losing a customer?
What is the main concern associated with losing a customer?
- Difficulty in finding a replacement customer
- Loss of current revenue
- Loss of potential future revenue (correct)
- Negative impact on employee morale
How do lost customers contribute to the business's challenges?
How do lost customers contribute to the business's challenges?
- By boycotting the business completely
- By providing valuable feedback for improvement
- By hiring more employees to compensate for the loss
- By retelling their negative experiences to others (correct)
What is one of the consequences of losing a customer as mentioned in the text?
What is one of the consequences of losing a customer as mentioned in the text?
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In what way does losing a customer differ from just a simple transactional loss?
In what way does losing a customer differ from just a simple transactional loss?
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What is the potential impact of losing a customer based on the text?
What is the potential impact of losing a customer based on the text?
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What does the 'ripple effect' mentioned in the text refer to?
What does the 'ripple effect' mentioned in the text refer to?
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How does losing a customer go beyond just that individual transaction?
How does losing a customer go beyond just that individual transaction?
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How can losing a customer impact the business beyond financial losses?
How can losing a customer impact the business beyond financial losses?
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What is one of the challenges associated with replacing a lost customer as per the text?
What is one of the challenges associated with replacing a lost customer as per the text?
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