It is cheaper for a company to acquire new customers than to maintain relationships with current customers.

Question

Quizplus · Accepted Answer

This statement is false. It is usually more cost-effective for a company to maintain relationships with current customers than to constantly acquire new ones. This is because retaining existing customers involves lower marketing and advertising costs and has a higher likelihood of yielding repeat business and positive word-of-mouth referrals.

It Is Cheaper for a Company to Acquire New Customers