Customer Satisfaction Is an Important Focus for Marketers Because

question 322

Multiple Choice

Customer satisfaction is an important focus for marketers because

• A) marketing research is an expensive proposition; the fewer times it needs to be done, the better off the company is.
• B) the financial value of a satisfied, loyal customer over time can be significant.
• C) consumers are unable to assess it by themselves.
• D) attracting new customers is easier than keeping old ones.
• E) a 50 percent increase in customer retention can increase a company's profits by 5 percent.

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Definitions:

Leadership Style

The manner or approach that a leader uses to guide, motivate, and manage their followers or team members.

Internal Integration

The process of ensuring different parts of an organization work together smoothly to achieve common goals.

External Adaptation

The process by which an organization or organism adjusts and changes in response to changes in its external environment.

Visibility

The degree to which something is seen or known by the public, often referring to the extent of exposure or attention that a person or issue receives.