Question
Customer retentions more profitable than customer question.
Answer :
Word Count : 248
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Customer retention is a critical aspect of marketing management, as retaining existing customers is generally more profitable than acquiring new ones. Loyal customers tend to make repeat purchases, exhibit higher brand loyalty, and often serve as advocates for the brand, which reduces the need for extensive marketing expenditures. Acquiring new customers usually involves higher costs in terms of advertising, promotions, and sales efforts, while retaining an existing customer typically requires lower investment, such as personalized communication, loyalty programs, or after-sales support. From a marketing
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