Question

Objectives are statements of specific outcomes that are to be achieved.
In context to the given statement, explain whether the following objective
“Improve customer retention" could drive management effort towards the
desired goals?

Answer 1

Explanation:

Yes of course this objective could drive the management effort towards the desired goals as through this we can analyse the demand and supply of product and do our production according to the customer's preferences.

Answer 2

Yes, the following objective “Improve customer retention" can drive management effort towards the desired goals.

Customer retention merits:

• Customer retention refers to retaining as much as customers possible through brand loyalty.
• Improving customer retention can help the management to achieve desired results as it helps in generating more revenue by selling to the same customers they already have a good relationship with.
• It is an efficient process as it saves time because the customers they are marketing to are already familiar with the brand and have shown an interest in it.
• The customers trust the company with their money as the company provides them value in exchange.
• Improving customer retention helps the company to gain the lifetime loyalty of customers and boosts revenue. It leads to the fulfillment of organizational goals.