Customer Satisfaction Is an Important Focus for Marketers Because

question 98

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) the financial value of a satisfied, loyal customer over time can be significant.
• C) customer value is a non-quantifiable marketing metric.
• D) attracting new customers is easier than keeping old ones.
• E) a 50 percent improvement in customer retention can increase a company's profits by 5 percent.

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Definitions:

Roles

The functions, responsibilities, or expected behaviors associated with a particular position or status in society.

Punctuated Equilibrium

A theory in evolutionary biology that proposes that species evolve rapidly during short periods of radical change, punctuating long periods of stability.

Campus Group

An organized collection of students and/or faculty in a college or university, formed around shared interests, goals, or academic pursuits.

Hazing

A process involving tasks or activities that are potentially harmful or humiliating, used as a way of initiating a person into a group.