Questions: Which of the following statements is true about customer loyalty? Customer loyalty generates customer satisfaction. Loyal customers provide valuable feedback. Customer loyalty helps in delivering value to a product Loyal customers do not require service.

The answer is: Loyal customers provide valuable feedback.

This statement is not entirely accurate. While customer loyalty and customer satisfaction are related, they are not the same. Customer satisfaction can lead to customer loyalty, but loyalty itself does not generate satisfaction. Satisfaction is a precursor to loyalty, not a result of it.

This statement is true. Loyal customers are more likely to provide honest and constructive feedback because they have a vested interest in the product or service. Their feedback can be invaluable for making improvements and innovations.

While customer loyalty can enhance the perceived value of a product through word-of-mouth and repeat purchases, it is not the primary factor in delivering value. The value of a product is primarily determined by its quality, features, and how well it meets customer needs.

This statement is false. Even loyal customers require service and support. In fact, providing excellent service is often a key factor in maintaining customer loyalty. Loyal customers may have higher expectations for service and support, making it crucial to continue meeting their needs effectively.