Customer-Centric Organizations Have Realized That It Is Cheaper to Attract

question 55

True/False

Customer-centric organizations have realized that it is cheaper to attract new customers than to try and retain their current customers.

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Definitions:

Promotional Mix

A combination of marketing tools used by a business to effectively promote its products or services.

Communication Tools

Communication tools include a range of software, platforms, and technologies used for sharing information and facilitating conversations among individuals or groups.

Prospective Buyers

Individuals or entities showing interest in purchasing a product or service but who have not yet made the purchase.

Integrated Marketing Communications

A strategic approach to marketing that combines multiple communication methods—such as advertising, sales promotion, public relations—to provide clarity, consistency, and maximum communicative impact.