Which of the Following Is True About Customer Retention

question 79

Multiple Choice

Which of the following is true about customer retention?

• A)Increased focus on new customers will result in more profit and sales.
• B)Making a sale to a new customer is comparatively less expensive than making a sale to a current customer.
• C)Long-term customers normally tend to be less price-sensitive.
• D)The cost of acquiring a customer, which occurs only after establishing the relationship, leads to increased profitability.

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Definitions:

Instrumental Value

Refers to the value that something has as a means to a desired or valued end, not valuable in itself but for what it leads to.

Aesthetic Value

The perceived beauty or artistic importance of something, often influencing human appreciation and conservation efforts.

Planetary Management

A worldview advocating for the management of Earth's resources to meet human needs while ensuring long-term sustainability.

Spaceship-Earth

A metaphor suggesting that Earth operates like a spaceship, with finite resources that must be managed wisely to sustain life.