Firms like Ford and Frito-Lay have learned which of the following marketing lessons?
A. It is a lot easier to find new customers than to retain existing ones.
B. Unless a marketing promotion to retain customer loyalty can increase market share by at least 5 percent, it is not worth the expenditure.
C. Existing customers do not spend as much as new customers since that former like the old products rather than the new ones new customers like.
D. The buying experience, customer satisfaction, and retention can increase a firm's profits.
E. According to research, it is equally costly to acquire new customers and retain existing ones.
Answer: D
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Answer the following statements true (T) or false (F)
1. Concerns regarding trade relations, importing/exporting, and international business ventures are addressed in the ethical imperative. 2. Advances in the Communication Age, including the Internet’s ability to increase our access to the world, are part of the technological imperative. 3. Gender refers to the biological traits associated with being a man or a woman. 4. Androgyny refers to a person exhibit feminine traits. 5. Ethnicity is most often determined by visual cues of physical appearance.
The lower of cost or market (LCM) rule violates the historical cost principle
a. True b. False Indicate whether the statement is true or false
Given the following data: Selling price per unit$2.00Variable production cost per unit$0.30Fixed production cost$3,000Sales commission per unit$0.20Fixed selling expenses$1,500The break-even point in dollars is: (Round your intermediate calculations to 2 decimal places.)
A. $4,000 B. $6,000 C. $2,647 D. $4,500
The breakeven point is the point where the sales revenues are equal to the fixed costs
Indicate whether the statement is true or false