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:

Older Adults

Individuals in the later stages of life, often considered to be age 65 and older.

Children's Households

The domestic environments where children reside, which play a crucial role in their development and wellbeing.

Volunteer Work

Unpaid activities where an individual freely offers time and effort to contribute to a community or assist those in need.

Well-Being

The state of being comfortable, healthy, or happy, encompassing both physical and mental health.