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

Branding, The Boeing Company makes a number of different types of aircraft ...

The Boeing Company makes a number of different types of aircraft for the commercial airline industry, e.g., the 727, 747, 757, 767, and 777 jet models. Is there any way for Boeing

Discuss about the product line simplification, Discuss about the product li...

Discuss about the product line simplification. In certain circumstances, a company may accept the strategy of slimming or contracting the product mix this may do so by abandoni

Assignment, explain the various approaches that are followed by FMCG compan...

explain the various approaches that are followed by FMCG companies in test marketing

Marketing, the value delivery process

the value delivery process

Developing and Qualifying Prospects and Accounts, Think about a specific sa...

Think about a specific sales job with a specific company that you might want to do. Then,if you were starting your own prospect list, explain in detail how you would use your own

Types of marketing information system, Types of Marketing Information Syste...

Types of Marketing Information System: the information needs of the marketing job are large and diverse. It is not easy to classify that information into a few types: 1. Class

What are the characteristics of a knowledge worker, Question 1: (a) Wh...

Question 1: (a) What are the characteristics of a knowledge worker and how do they differ from those of the traditional worker? (b) Using relevant examples, illustrate how

Marketing communication for a new product (Diet cupcakes), 1. Use any tool ...

1. Use any tool of the promotion mix tools to promote and sell your new product “Diet cupcakes”. Specify the tools and the reason for selecting it. 2. Screen the communication o

Fundamental marketing concepts, Q.  Explain some fundamental marketing con...

Q.  Explain some fundamental marketing concept? Ans.: The several fundamental concepts are :- (1) Exchange Concept: Exchange concept holds the concept that the exchange

Marketing strategy development - new product development, Marketing Strateg...

Marketing Strategy Development a. The fourth step is marketing strategy development that involves designing primary marketing strategy for a fresh product depends on the manuf

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