Question: Small increases in customer retention can result in large increases in profit because A . returning customers always buy more units relative to new customers

Small increases in customer retention can result in large increases in profit because
A. returning customers always buy more units relative to new customers
B. It costs four to five times more to get a new customer than it does 10 retain one
C. existing customers can be serviced with less expensive staff members
D. new customers are fickle and frequently swith vendors
E. retention is very easy given most customers are reluctant to change suppliers
Small increases in customer retention can result

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!