The estimated cost of gaining a new customer over retaining a current customer has the following multiple:
A) 3
B) 5
C) 7
D) 10
E) 20

Name: The estimated cost of gaining a new customer over retaining a current customer has the following multiple: A) 3 B) 5 C) 7 D) 10 E) 20
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Question

Quizplus · Accepted Answer

The generally accepted estimate is that it costs five times more to acquire a new customer than to retain an existing one. Therefore, the correct choice is B.

The Estimated Cost of Gaining a New Customer Over Retaining