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:

Point System

A form of job evaluation that assesses the relative importance of the job’s key factors in order to arrive at the relative worth of jobs.

Compensation Information

Data and details regarding the pay rates, bonuses, benefits, and other forms of remuneration provided to employees for their services.

Consulting Companies

Businesses that provide expert advice and solutions to other organizations or individuals in specific domains, such as management, technology, or finance.

Perceived Inadequate

Feeling or being judged as insufficient or not meeting the required standards.