The Twofold Goal of Marketing Is to Attract New Customers

question 10

True/False

The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.

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Definitions:

Factor Analysis Method

A statistical technique used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.

Benchmarking Method

A process of comparing business processes and performance metrics to industry bests or best practices from other companies.

Comparable Worth Laws

Legislation designed to ensure that jobs of equal value to the employer are compensated equally, irrespective of gender or other irrelevant factors.

Male-Female Wage Gap

The persistent disparity in average earnings between men and women, often measured within the same roles, industries, or across the labor market as a whole.