By creating superior customer value, the hospitality business creates highly satisfied customers who stay loyal and buy more. Select one: True False Question 35 The only value your company will ever create is the value that comes from customersthe ones you have now and the ones you will have in the future. Without customers, you don't have a business. True False Question 36 When considering the Lifetime Value ofa customer: losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. Select one: True False 4. One of the biggest challenges for management is to increase the blank of its product for its blank. To do this, managers must know their customers and understand what blank for them. This is an ongoing process, as customers and competition change over time