The Realization That Attracting New Customers Is Much More Expensive

question 17

Multiple Choice

The realization that attracting new customers is much more expensive than retaining old customers led organizations to pursue what strategy?

• A)Total quality management
• B)Loyalty oaths
• C)Retention bonuses
• D)Relationship marketing

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Definitions:

Cultural Isolation

A state where a group or community is detached from interacting with or being influenced by different cultures.

National Identity

A sense of a belonging to a nation and a belief in its culture, language, and common descent, which distinguishes one nation from another.

Hyphenated Canadian

A term used to describe Canadians who identify with both their Canadian nationality and their ethnic or cultural heritage, using a hyphen to connect them.

Host Culture

The dominant culture or social environment in which an immigrant, foreign visitor, or minority group is immersed and must adapt to.