One Reason Follow-Up Is So Important Is That Research Shows

question 17

Multiple Choice

One reason follow-up is so important is that research shows that the cost and effort to obtain repeat sales from a satisfied customer is roughly __________ of that necessary to gain a sale from a new customer.

• A)25%
• B)50%
• C)100% (or the same as)
• D)200% (or double)
• E)300% (or triple)

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Definitions:

Substitute Product

A product that can be used in place of another, fulfilling the same needs or desires.

Chicken Prices

The market value or cost of chicken, which can fluctuate based on factors like demand, feed prices, and production costs.

Price of Beef

The cost at which beef is sold in the market, which can vary based on factors like quality, supply, and demand.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.