New Customer Acquisition and Retention Strategy - Marketing

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  276933 Customer acquisition and customer retention & outline marketing Explain the difference between customer acquisition and customer retention.

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  Compare and contrast the cost of customer retention versus customer acquisition.

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  These are as follows: - Investment: Cost of customer retention and customer acquisition is different in terms of investment in marketing activities (Chapter 9: Managing the customer - - Lifecycle: customer retention and development, 2008).

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  (Customer Acquisition and Retention, 2008).

• Please show me how to answer questions like the ones below. I will have similar on my exam.

  Customers are constantly bombarded with new products, services and technologies-making the development of effective customer acquisition and retention strategies more difficult.

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  value (LTV). (3) For retention of new customers, customer service departments and a customer service toll free number helps, but they also need an integrated marketing strategy that is directed at retention, and that defines retention as the measurement

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• cost of acquisition and the cost of retention

  The lines of retention and acquisition are blurred in this case as the new customer can also categorize as a customer that was retained.