Discuss three reasons that it is essential for an organization to engage actively in relationship marketing.
What will be an ideal response?
(1) The cost of lost customers. No amount of advertising is likely to win back a customer lost as a result of shoddy products or poor service. (2) The cost of acquiring new customers. It costs substantially more to acquire a new customer than to keep an old one. The fragmentation of media and the resistance of sophisticated consumers to advertising make it difficult for a brand to break out. (3) The value of loyal customers. Long-term customers are more willing to pay premium prices, make referrals, increase their annual buying, and demand less hand-holding.
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The Greenbook is a directory of marketing research firms
Indicate whether the statement is true or false
Which of the following accounts has a normal credit balance?
a. Dividends b. Automotive Equipment c. Advertising Fees Earned d. Interest Expense
Transfer pricing
a. is a concept readily accepted by managers of divisions, because it relies on concepts used in cost-based pricing methods. b. incorporates procedures that allow for ease in determining the amount of profit associated with each division of a decentralized company. c. involves determining the cost and profit if the output of one division is transferred to another division of the same company. d. is not used by many companies because it is difficult to eliminate intercompany profits.
A ________ occurs when an agent makes an untrue statement that he or she knows is not true
A) partially disclosed agency B) misrepresentation C) respondeat superior D) dual-purpose mission