Every summer, jasmine and tanya have stayed in a hotel at the same location. the hotel has changed ownership three times and has had two different names during that same period, but jasmine and tanya still find it a convenient place to have a real connection with the area they stay in and to meet locals. jasmine and tanya’s relationship with the hotel exemplifies how a service provider uses to support its customer retention strategy.

Jasmine and Tanya’s relationship with the hotel exemplifies how a service provider uses social bonds to support its customer retention strategy.

Explanation:

A social bond is a form of bond in which the customer builds a bond over a period of time by the continuous usage of it. At the same time, it needs to be noted that such bonds may not provide the fixed rate of return to the investors. The social outcomes achieved performs the function of repaying the investors respectively.