Customer satisfaction is an important focus for marketers because
A)marketing research is an expensive proposition; the fewer times it needs be done, the better.
B)over time, the financial value of a retained customer can be significant.
C)customer value is a non-quantifiable statistic.
D)attracting new customers is easier than keeping old ones.
E)a market development strategy is preferable to a market penetration strategy.

Question

Quizplus · Accepted Answer

Retaining customers is important because over time they can become valuable, repeat customers who generate more revenue for the company. In addition, acquiring new customers can be more expensive than retaining current ones, making customer satisfaction an important focus for marketers.

Customer Satisfaction Is an Important Focus for Marketers Because