Firms Focus on Acquiring New Customers Rather Than Retaining Existing

question 12

True/False

Firms focus on acquiring new customers rather than retaining existing customers,as new customers account for nearly 70 percent of new business for a firm.

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Definitions:

Neutral Stimuli

Stimuli that do not initially elicit a strong emotional or physiological response but can become associated with meaningful outcomes through conditioning.

Classical Conditioning

A training method where two stimuli are paired together repeatedly, leading to a response initially triggered by the second stimulus being later triggered by just the first stimulus alone.

Psychological Treatment

A range of therapies used to treat mental health problems, focusing on changing dysfunctional behaviors, thoughts, emotions, and patterns of interaction.

Anxiety-Related Disorders

Mental health disorders characterized by excessive fear and anxiety, which impact daily functioning.