Asked by Julian Munoz on Jun 20, 2024
Verified
Approximately how much more does it cost to attract one new customer than to keep an existing one?
A) Five times as much
B) Three times as much
C) Twice as much
D) About the same
Attracting Customers
The strategies and tactics businesses use to draw potential buyers towards their products or services.
Existing One
This term does not seem to have a clear definition in a professional or business context and might not be a standard key term.
- Familiarize with the impact of marketing eras on business strategies and practices.
Verified Answer
AA
Aleesha ArmstrongJun 22, 2024
Final Answer :
A
Explanation :
It costs approximately five times as much to attract a new customer than to keep an existing one, due to the higher expenses associated with marketing, sales efforts, and the overall process of establishing trust and value to new customers.
Learning Objectives
- Familiarize with the impact of marketing eras on business strategies and practices.