Customer Satisfaction Is an Important Focus for Marketers Because

question 29

Multiple Choice

Customer satisfaction is an important focus for marketers because

• A)marketing research is an expensive proposition; the fewer times it needs be done, the better.
• B)over time, the financial value of a retained customer can be significant.
• C)customer value is a non-quantifiable statistic.
• D)attracting new customers is easier than keeping old ones.
• E)a market development strategy is preferable to a market penetration strategy.

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Definitions:

Premium

An amount paid for an insurance policy, or the price above the normal or nominal cost in financial transactions.

Discount

A reduction from the usual cost of something, often expressed as a percentage off the original price.

Convertible Bond

A financial instrument that allows the bondholder to convert the bond into a predetermined number of shares of common stock of the issuing company.

Market Value

The dollar amount required to replace the inventory as of the inventory date.