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    cost of acquisition and the cost of retention

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    Why is it important to know the differences between the cost of acquisition and the cost of retention? How does that cost differ consumer to consumer? How may it differ by industry?

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    https://brainmass.com/business/mergers-and-acquisitions/cost-acquisition-cost-retention-316743

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    It is important to know the difference between the cost of retention and acquisition because it costs more to get a new customer than it does to keep one you already have. In a practical application, the cost of customer service is an important cost and in budgeting and the importance of the function of after service care is established in the assessment of acquisition versus retention costs.

    Customer loyalty patterns and motivations differ. An example of cost of acquisition differing from customer to customer would be the automobile insurance ...

    Solution Summary

    Why is it important to know the differences between the cost of acquisition and the cost of retention?
    It is important to know the difference between the cost of retention and acquisition because it costs more to get a new customer than it does to ...

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