(Answered) Why is it important to maintain a customer relationship

Management Studies

Why is it important to maintain a Customer Relationship instead of constantly seeking new customers?

First, you learn more from your existing customers because they know you and you know them.

Second, it costs on average 5 times more to get a new customer than to keep the ones you have.

Please see https://www.invespcro.com/blog/customer-acquisition-retention/ and comment

View complete question

Marketing Management, Management Studies

Category:- Marketing Management
Reference No.:- M92666693
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Marketing Management

Question read the worddoc first and answer those following

Question: Read the word.doc first and answer those following question 1. Provide a list of at least five pieces of information that airlines have about their customers, and for each, explain how that information might he ...

Question imagine that you are in the market for a new

Question: Imagine that you are in the market for a new career. How can the marketing research process apply to your career search? Think of a specific topic you need to learn more about that relates to your career as a o ...

Question find a company in your area that is known for its

Question: Find a company in your area that is known for its environmental and/or social responsibility. Set up an interview with a company representative. In the interview find out: 1. What the company representative bel ...

In this assessment students are required to submit a

In this assessment students are required to submit a written assignment and deliver an oral presentation relating to Integrated Marketing Communications. Students will apply skills and knowledge to propose an IMC campaig ...

Assignment descriptionprimary task response within the

Assignment Description Primary Task Response: Within the Discussion Board area, write 300-500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future ...

Marketing research assignment -1 case study - read the case

Marketing Research Assignment - 1. Case study - read the case and answer the questions which follow: Case - Your Supermarket Is Spying on You Tesco, one of the biggest supermarket retailers in the United Kingdom, has a w ...

Question a explain the differences between legal and

Question: (a) Explain the differences between legal and ethical behavior in marketing. Identify factors that influence ethical and unethical marketing decisions. (b) What do you think about companies incorporating social ...

Question business ideas for nurse practitioner

Question: Business Ideas for Nurse Practitioner Entrepreneurs Presentation Nurse practitioners can practice in many locations and can be a clinical practice as well as a consulting business, educational business. Read th ...

Question strategic marketing planintroductionthis

Question: STRATEGIC MARKETING PLAN INTRODUCTION This assignment entails development of a comprehensive strategic marketing plan for a new product or service that is ready to "go to market". A Project Template is provided ...

Question after watching this video -- we want to consider

Question: After watching this video -- we want to consider the shift in marketing from business to business. We have discussed direct marketing to target markets - but if we work for a organization whereby we market to o ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Marketing Management Expert