Firms Such as GM and Frito-Lay Have Learned Which of the Following

question 124

Multiple Choice

Firms such as GM and Frito-Lay have learned which of the following marketing lessons?

• 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 and retain existing ones.
• C) Existing customers do not spend as much as new customers since the former like the old products rather than the new ones new customers like.
• D) The buying experience, customer satisfaction, and customer 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.

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Definitions:

Biological Factors

Elements within an organism's biological makeup or environment that influence its behavior, health, and development.

Refractory Period

Following an initial stimulus, a phase where a nerve or muscle cannot react to more stimulation.

Achieve An Erection

The process where increased blood flow to the penis results in its enlargement and hardening, often due to sexual arousal.

Sexual Activity

Behaviors related to sex or the experience of sexual pleasure between individuals or with oneself.