It Is Cheaper to Keep An________ Customer Than to Acquire

question 140

Short Answer

It is cheaper to keep an________ customer than to acquire a new one or win back a lost one.

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Definitions:

Assimilation

The process by which individuals or groups of differing cultural backgrounds are absorbed into the dominant culture of a society.

Egocentrism

In Piaget’s theory, the preoperational child’s difficulty taking another’s point of view.

Accommodation

In psychology, a cognitive process of altering one's existing schemas, perceptions, and understanding so as to adapt to new information.

Cognitive Developmental Stages

Theoretical stages proposed by psychologists to describe the progression of thinking and reasoning abilities as people grow.