It costs more selling to new customers than old customers, therefore economic benefits of maintaining relationships with current customers will include all of the listed options EXCEPT: b. new customers increase profits more than current customers.
Customer relationship management is very key in every business as it is one very important strategy to customer retention.
When a good relationship is created and maintained with current customers, economic benefits that such business will get could include:
Thus, it costs more selling to new customers than old customers, therefore economic benefits of maintaining relationships with current customers will include all of the listed options EXCEPT: b. new customers increase profits more than current customers.
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