Firms such as Ford and Frito-Lay have learned which of the following marketing lessons?
A)It is a lot easier to find new customers than to retain existing ones.
B)According to research,it is equally costly to acquire new customers and retain existing ones.
C)Existing customers do not spend as much as new customers since the former like the old products rather than the new ones new customers like.
D)The buying experience,customer satisfaction,and customer retention can increase a firm's profits.
E)Unless a marketing promotion to retain customer loyalty can increase market share by at least 5 percent,it is not worth the expenditure.

Question

Quizplus · Accepted Answer

The financial value of a satisfied customer over time has focused marketer attention on the buying experience,customer satisfaction,and retention.Ford executives say that each additional percentage point of customer retention is worth $100 million in profits.See Marketing Matters in the text.

Firms Such as Ford and Frito-Lay Have Learned Which of the Following