Among the Arguments for the Importance of Customer Retention Are

question 37

Multiple Choice

Among the arguments for the importance of customer retention are:

• A)it costs at least seven times as much to acquire a new customer as it does to retain an existing one.
• B)a satisfied customer does not talk about the firm and product.
• C)reducing customer defections will increase sales, but not necessarily profits.

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Definitions:

Specified Limits

Predetermined boundaries or constraints that define the scope, actions, or conditions under which a process or operation can occur.

Employee Retention

Strategies and practices employed by organizations to prevent valuable employees from leaving their jobs.

Engagement Level

The degree of enthusiasm and dedication an employee exhibits toward their job and the organization they work for.

Behaviorally Specific Questions

Questions tailored to elicit detailed and action-oriented responses by focusing on specific behaviors or events.