Identify and Discuss the Reasons for Which Small Reductions in Customer

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Examlex · Accepted Answer

The Answer is 1) Loyal customers buy more products.
2) Long-term customers who are familiar with the company's products are an important asset for developing and testing new products and services. 3) Loyal customers are less price sensitive and pay less attention to competitors' advertising.
4) Servicing existing customers, who are familiar with the firm's offerings and processes, is cheaper.
5) Loyal customers spread positive word of mouth and refer other customers.
6) Marketing efforts aimed at attracting new customers are expensive. In saturated markets, there may not even be new customers.
7) Employees' jobs are easier and more satisfying when customers are loyal and easier to serve.

Identify and Discuss the Reasons for Which Small Reductions in Customer

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