Any company's marketing plan must include improving and maximizing customer loyalty and retention. Describe why this is the case and provide two examples of businesses that use this strategy.
Any company's marketing plan must include improving and maximizing customer loyalty and retention. Describe why this is the case and provide two examples of businesses that use this strategy.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Any company's marketing plan must include improving and maximizing customer loyalty and retention. Describe why this is the case and provide two examples of businesses that use this strategy.
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Two of the most important strategies that a company always adopts are customer loyalty and customer retention. When a customer buys a particular company's product or service while having a pleasant experience and decides to do business with them again is known as customer loyalty. Customer retention refers to the ability of the company to retain its customer over a specific period of time. When a customer is retained by the company, those customers continue to buy their products or services.
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