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Customer Loss Impact Quiz

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Questions and Answers

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?

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?

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?

Replacement of the lost customer becomes necessary (D) Signup and view all the answers

In what way does losing a customer differ from just a simple transactional loss?

It triggers a ripple effect on other potential customers (B) Signup and view all the answers

What is the potential impact of losing a customer based on the text?

Immediate financial loss (B) Signup and view all the answers

What does the 'ripple effect' mentioned in the text refer to?

Sharing negative experiences with others about the business (D) Signup and view all the answers

How does losing a customer go beyond just that individual transaction?

Leads to loss of future business and a ripple effect (B) Signup and view all the answers

How can losing a customer impact the business beyond financial losses?

Negative word-of-mouth leading to further losses (B) Signup and view all the answers

What is one of the challenges associated with replacing a lost customer as per the text?

Risk of losing more customers due to poor service recovery (C) Signup and view all the answers

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