Question $18($Mandatory$)(2$ points$)$

Putting a dollar value on what a satisfied, loyal repeat customer spends on a firm's products during a year or a lifetime reveals that

focusing on customer retention is nice in theory, but in reality not very profitable.

the calculation is flawed; it relies on "guestimates" that are often overinflated.

companies that have focused on customer retention have not yet seen significant results. $-$

focusing on customer retention can be very profitable in the long run.

companies are generally more profitable if they try to attract new customers rather than if they focus on customer retention.