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

Discuss the importance of customer care, Question: "Customer service i...

Question: "Customer service is an organization's ability to supply their customers' wants and needs. Customers and business managers alike like to talk about what good custome

What are tangible advantages in e-commerce, What are tangible advantages in...

What are tangible advantages in e-commerce? Tangible advantages are as explained below: Through the buyer’s perspective e-commerce gives very many tangible advantages: a.

Explain about transportation in scope of marketing, Explain about transport...

Explain about transportation within scope of marketing functions. Transportation: Modern organizations create on a huge scale to cater to the needs of customers scattered

What is competition based pricing, What is Competition Based Pricing In...

What is Competition Based Pricing In case of products where market is highly competitive and there is negligible difference in quality of competing brands, price is generally f

Test Marketing, Various approaches by FMCG companies ..

Various approaches by FMCG companies ..

What are the various stages of new product development, What are the variou...

What are the various stages of new product development? Each of New Product Development’s stages involves considerable study and analysis at each stage. A management decision i

Test marketing., explain the various approaches better followed by smcg com...

explain the various approaches better followed by smcg companies in test marketing?

What is psychographic or psychological segmentation, What is Psychographic ...

What is Psychographic or Psychological Segmentation? Psychographic/Psychological Segmentation: A Psychographic or Psychological characteristic taken as to inner character

Salesman, The Impact of the salesman on the turn over of a non alcoholic be...

The Impact of the salesman on the turn over of a non alcoholic beverage producer.

Advertising, Ask 1 A Chennai based soft –drink company has proposed to lau...

Ask 1 A Chennai based soft –drink company has proposed to launch a new variant of Soft-drink in three flavours lemon , rose , and orange priced at Rs.6 /- ,Rs.7/- Rs.8 /- in 300m

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