You will now read a short passage and listen to a lecture on the same topic. You will then be asked a question about them. After you hear the question, give yourself 30 seconds to prepare your response. Then record yourself speaking for 60 seconds.
Listen to Track 220.
Now read a passage from a marketing textbook. You have 45 seconds to read the passage. Begin reading now.
Reading Time: 45 seconds
An effective, well-known method of customer attraction and retention is a strategy called “loyalty marketing.” This strategy includes any practice that gives customers added benefits simply for using, or continuing to use, products or services that a company sells. In recent years, loyalty marketing programs have flourished in various consumer-focused industries. Some prominent examples include airline mileage programs and reward programs for credit card users. Alternatively, a loyalty marketing program may involve price discounts that are available only to members at such places as grocery stores or gas stations.
Listen to Track 221.
Using the examples from the lecture, explain the practice of loyalty marketing.
Preparation Time: 30 seconds
Response Time: 60 seconds