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It Is to a Firm's Advantage to Develop Long-Term Relationships

question 14

True/False

It is to a firm's advantage to develop long-term relationships with existing customers because it is harder and more expensive to make an additional sale to an existing customer than to make a new sale to a new customer.


Definitions:

Cases Per Year

A metric indicating the number of legal cases a court, lawyer, or firm handles within a one-year period.

Foreseeable Future

A term used to describe the period of time in which an event or condition can reasonably be predicted to occur based on current knowledge and conditions.

Judge's Decision

The ruling or verdict given by a judge at the end of a trial, which determines the outcome of the case.

Case Is Ripe

A legal principle indicating that a case has developed enough to be adjudicated by a court, primarily used in administrative law to prevent premature litigation.

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