What are the needs for retention, Marketing Management

Assignment Help:

What are the needs for retention?

Need for Retention:

There are several interesting facts upon the basis of past researches about getting a customer and retaining him.

a) Obtaining new customer costs five times more than satisfying an existing customer.

b) Onto an average, companies lose ten percent of customers every year.

c) The customer profit rate rise over the lifetime of retained customer.

d) A five percent reduction in customer attrition may raise the profit rate by 25 to eighty five percent.


Related Discussions:- What are the needs for retention

Marketing Management Philosophies, Characteristics of Sellings oriented con...

Characteristics of Sellings oriented concept of marketing, Marketing Management

What is advertising standards council of principles, What is Advertising St...

What is Advertising Standards Council of principles? Explain in briefly. Advertising Standards Council of Principles: a) To make sure the truthfulness and honesty of demo

What is the role of marketing communications, What is The Role of Marketing...

What is The Role of Marketing Communications It is possible to deduce that marketing communications are about promotion of both the organisation and its offerings. Marketing co

Describe which method of primary data collection, Question: a) Many Mar...

Question: a) Many Marketing Managers have their favorite research techniques. Some maintain that the only way to collect primary data is through in-depth, qualitative research

Market segmentation and key competitors, Schovasice cream market can be bro...

Schovasice cream market can be broken down into basics of flavor, stock keeping unit, consumer segmentation, gender, ethnicity, income. The largest ice cream consumer group is peop

Characteristics of product oriented concept of marketing, Characteristics o...

Characteristics of old or product oriented concept of the marketing: Main characteristics of this concept of marketing are as follows: 1.      It stresses upon the produc

Ray ban, how to draw consumer profile of a typical buyer of ray ban?

how to draw consumer profile of a typical buyer of ray ban?

New product development, New Product Development Organizations have to...

New Product Development Organizations have to develop new services and products. A company must be good at making new products. It also ought to manage them in the face of mod

Explain about the advertisement and economy in marketing, Explain about the...

Explain about the Advertisement and Economy in Marketing. Advertisement and Economy: • Produces more employment • Fluctuations into Advertisement budget as per economi

Public relations practitioners, Question : (a) "There are those-usually...

Question : (a) "There are those-usually who have never experienced a crisis- who say that planning for a crisis is a waste of time because it is planning for something that wil

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd