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:

Modern Western Society

Refers to contemporary societies in Western regions of the world, characterized by democratic political systems, industrialization, and a focus on individual rights and freedoms.

Cohabitation

The act of living together and having a sexual relationship without being married.

Serial Monogamy

The practice of engaging in a series of monogamous romantic relationships consecutively, rather than having multiple partners at the same time.

Cohabitation

The act of living together in a romantic or domestic partnership without being married.