Question

Penguin, an ice-cream parlor, has introduced a Special Shopper Card that allows its customers to pay in advance for ice-cream and flavored yoghurts. This effort by Penguin ice-cream parlor is most likely an example of a growth strategy called __________.

Answer 1

The initiative taken by Penguin ice-cream parlor to introduce a Special Shopper Card, enabling customers to prepay for ice-cream and flavored yogurts, can be seen as an example of a growth strategy focused on fostering customer loyalty. This approach aims to encourage customers to come back for repeat purchases, thereby ensuring a steady and sustainable growth for the business.