CRM firms focus on increasing their share of customers rather than share of market because ________.
A)customers come and go so quickly
B)it is always hard and expensive to get new customers
C)it is usually easier but more expensive to keep an existing customer than to get a new customer
D)it is easier and less expensive to keep an existing customer than to get a new customer
E)it is harder but less expensive to keep an existing customer than to get a new customer

Question

Quizplus · Accepted Answer

CRM firms focus on increasing their share of customers because it is easier and less expensive to keep an existing customer than to get a new customer. This is because existing customers are already familiar with the company, its products and services, and have established a connection with the brand. Acquiring new customers, on the other hand, requires more effort and cost, such as advertising, marketing, and sales efforts. Therefore, increasing the share of customers is a more practical and efficient strategy for CRM firms.

CRM Firms Focus on Increasing Their Share of Customers Rather