Firms such as GM 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

Firms like GM and Frito-Lay have learned that focusing on the buying experience, customer satisfaction, and customer retention can significantly increase profits, as retaining existing customers is generally more cost-effective and beneficial than acquiring new ones.

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