Which of the following statements about marketing is true?
A)Most marketers are seeking a one-time exchange or transaction with their customers.
B)The focus of production-driven companies is on developing and sustaining relationships with their customers.
C)It is often more cost effective to use marketing to retain customers than to acquire new ones.
D)Marketing does not play an important role in developing and sustaining relationships with customers.
E)By definition,a marketing transaction involves the exchange of money.

Question

Quizplus · Accepted Answer

It is often more cost-effective to use marketing to retain customers than to acquire new ones. This is because acquiring new customers usually involves higher costs such as advertising, promotions, and sales efforts, while retaining existing customers involves maintaining and improving customer satisfaction through excellent customer service, loyalty programs, and personalized communication. Therefore, marketing plays a crucial role in retaining customers and building long-term relationships with them.

Which of the Following Statements About Marketing Is True