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Answer :
Final answer:
Cory's focus on relationship-building and excellent service leads to strong customer loyalty, best described by the term customer retention. This concept emphasizes keeping existing customers satisfied for repeat business and referrals. Other terms like prospecting and objections do not capture this idea.
Explanation:
Understanding Customer Loyalty
Cory's approach to sales emphasizes the importance of building strong relationships with customers and providing excellent service, which is key to fostering long-term loyalty. In this context, the term that BEST describes the loyalty exhibited by Cory's customers is customer retention. Customer retention refers to the strategies and actions companies take to keep their existing customers engaged and satisfied, ultimately leading to repeat purchases and referrals to their friends and family.
Components of Customer Retention
- Building Relationships: Cory’s emphasis on relationships helps create a trusting environment where customers feel valued.
- Excellent Customer Service: By providing top-notch service, Cory enhances customer satisfaction, which is critical for retention.
- Repeat Purchases and Referrals: As seen in Cory's case, satisfied customers are more likely to return and refer others, contributing to sustained sales growth.
In contrast, the other terms provided do not accurately capture this concept: prospecting involves seeking new customers, objections relate to customer concerns during the sales process, and collaborative selling indicates a joint effort in the selling process.
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