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:

Economic Value

A measurement of the benefit provided by a good or service to an individual or society, often quantified in terms of money.

Compounded Semi-Annually

Interest that is calculated and added to the principal twice a year, resulting in increased interest earnings due to the compound effect.

Savings

Money that has been set aside and saved, typically in a bank account, for future use or emergencies.

Account

A record summarizing all the transactions pertaining to a single item in the accounting equation.