Final answer:
The statement is true; service backup refers to the add-on services provided by a marketing channel, which enhance customer satisfaction and support the main product or service offered.
Step-by-step explanation:
The statement, 'Add-on services such as credit, delivery, installation, and repairs provided by the marketing channel are referred to as service backup,' is true. Service backup refers to the additional services that support the main product or service being provided. These services are important for enhancing customer satisfaction and can include a range of offerings, such as extended warranties, customer service support, credit facilities, after-sales services, and logistical support such as delivery and installation.
Having a strong service backup is crucial for businesses as it can be a key differentiator in the market and can help in building long-term customer relationships. Examples include electronics companies providing installation services for appliances or car dealerships offering maintenance and repair services.