Sophisticated firms have learned the following marketing lesson:
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 as it is to retain existing ones.
C)Existing customers do not spend as much as new customers since that former like the old products rather than the new ones new customers like.
D)The buying experience,customer satisfaction,and 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

Sophisticated firms have learned that retaining existing customers and ensuring their satisfaction can have a significant impact on profits. By providing a positive buying experience and focusing on customer satisfaction and retention, firms can foster loyalty and repeat business, ultimately leading to increased sales and profits.

Sophisticated Firms Have Learned the Following Marketing Lesson