question 22\nreplacing a customer cost over ten times more than servicing an existing customer.\ntrue\nfalse
question 22\nreplacing a customer cost over ten times more than servicing an existing customer.\ntrue\nfalse
Answer
Brief Explanations:
In business, customer - retention strategies are important because acquiring new customers (replacing a lost one) typically incurs much higher costs such as marketing, advertising, and on - boarding expenses compared to the costs of maintaining existing customers like providing ongoing service. It is a well - known principle that replacing a customer can cost over ten times more than servicing an existing one.
Answer:
True