Firms Such as Ford and Frito-Lay Have Learned Which of the Following

question 137

Multiple Choice

Firms such as Ford and Frito-Lay have learned which of the following marketing lessons?

• A)It is a lot easier to find new customers than to retain existing ones.
• B)According to research,it is equally costly to acquire new customers and retain existing ones.
• C)Existing customers do not spend as much as new customers since the former like the old products rather than the new ones new customers like.
• D)The buying experience,customer satisfaction,and customer retention can increase a firm's profits.
• E)Unless a marketing promotion to retain customer loyalty can increase market share by at least 5 percent,it is not worth the expenditure.

---

Definitions:

Tactical Planning

Short-term, detailed planning that focuses on achieving specific goals or objectives within a limited timeframe.

Mitigation Planning

A strategic approach to lessen the severity and impact of potential risks and disasters on a project or organization.

Strategic Planning

The process of defining an organization’s direction and making decisions on allocating its resources to pursue this strategy.

Functional Planning

pertains to the process of developing detailed strategies and actions for specific functional areas within an organization, such as marketing or operations.