Question

Attracting and retaining customers is necessary to survive in the competitive environment. Which of the following statements on this issue is incorrect *

4 points

A loyal set of customers keeps the "cost of selling" down

Word of mouth as a medium of communication that help in attracting customers

Company must try to attract new customers instead of retaining customers

answer

Listening to customer queries helps retain them

​

Answer 1

This statement is wrong:

Company must try attract new customer instead the retaining customers

Answer 2

The company must try to attract new customers instead of retaining customers. This statement is incorrect on this issue.

• Maintaining relationships with your current customers to delight them long after they purchase your product or service is known as customer retention management.
• Once a customer has developed a product and determined their target market, their business may experience rapid growth, so it's critical to allocate equally as many resources to selling to new customers as to keeping the ones they already have.
• The success of a business in both acquiring new customers and keeping its current clientele is measured by its customer retention rate. Additionally, it boosts customer loyalty, increases ROI, and attracts new clients.

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