It Is More Costly for Firms to Try and Attract

question 279

True/False

It is more costly for firms to try and attract new customers than it is to build a strong relationship with existing customers.

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Definitions:

Pay-Per-Click

An internet advertising model used to drive traffic to websites, where advertisers pay a publisher when the ad is clicked.

Social Media Networks

Online platforms where users can create profiles, share content, and interact with individuals and organizations globally.

Local Retailers

Small-scale stores or businesses that sell goods directly to consumers within a specific locality or community.

Immediate Customer Response

A business strategy focusing on promptly addressing customer inquiries, complaints, or needs.