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.

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Definitions:

Reality

Refers to the state of things as they actually exist, as opposed to how they may appear or might be imagined.

Socially Conscious

Being aware of and responsive to societal and social issues and injustices.

Generalized Other

A concept in sociological theory referring to the social control exercised by common social norms and values over an individual.

Self

Refers to the individual's consciousness of their own identity and personal characteristics.