How Would a Marketing Manager Determine a Firm's Retention Rate

question 67

Multiple Choice

How would a marketing manager determine a firm's retention rate?

• A)by determining the percentage of existing customers that a firm keeps as compared to its total number of customers
• B)by figuring out the expense to the firm of attaining a new customer
• C)by considering the revenues and costs of retaining customers over the long term
• D)by analyzing the firm's customer base as compared to the forecast in the firm's marketing plan
• E)by determining the average profit margin for each of the firm's customers per year

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Definitions:

Anxiety Levels

Refers to the degree or intensity of feeling anxious or stressed, which can vary among individuals and situations.

Cross-National

Pertaining to or involving two or more nations, often used in research to describe studies that compare phenomena across different countries.

Cultural Competence

The ability to understand, communicate with, and effectively interact with people across cultures by acknowledging and respecting their beliefs and behaviors.

Cultural Competencies

The ability to understand, communicate with, and effectively interact with people across cultures.