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

What is consumer satisfaction about the marketing, What is consumer satisfa...

What is consumer satisfaction about the marketing? Consumer satisfaction: Today’s customers face a growing range of choices in the products and services they can buy. The

Production concept, The Production Concept The manufacture concept hol...

The Production Concept The manufacture concept holds that consumers will favour products that are available and extremely affordable and that management  should,  then,  focus

Caselet, considering the concept of product life cycle, where would you put...

considering the concept of product life cycle, where would you put video games in their life cycle?

What is insurance in functions of marketing, What is insurance in functions...

What is insurance in functions facilitating exchange in marketing? Insurance: A large number of risks are comprised in exchange of goods and services. It helps to cover s

Nuclear chem, what is the relationship of nuclear chemistry to marketing ma...

what is the relationship of nuclear chemistry to marketing management

What is the meaning of marketing concept, What is the meaning of marketing ...

What is the meaning of marketing concept? Meaning: Marketing concept means that the achievement of organizational goals based on determining the wants and needs of the tar

Effect on prices in advertising, Q. Effect on Prices in advertising? E...

Q. Effect on Prices in advertising? Effect on Prices:- The supporter of advertising quarrel that advertising helps to reduce prices Advertising results in decrease of per uni

Why sales promotion is an integral part of marketing, Question 1: Why s...

Question 1: Why sales promotion is an integral part of marketing? How does it differ from marketing and advertising? - Detail explanation on ‘Meaning and Importance of Sale

Explain the role of managers in marketing communication, Explain in role of...

Explain in role of managers in marketing communication Managers are now required not only to find new ways to communicate but also to do so on reduced budgets and they should a

Importance of marketing - under developed/developing economy, Importance of...

Importance of the marketing in under developed or developing economy : Marketing has a special significance in under developed economics. A rapid development of the economy is p

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