BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Relationship marketing pundits estimate that it costs five to ten times more to make sales to ____ than to ____
A
An existing customer, a new customer
B
A new customer, a supplier
C
A supplier, an existing customer
D
A new customer, an existing customer
Explanation: 

Detailed explanation-1: -Marketing consists of the strategies your company employs to generate interest in your business. Sales are the methods by which you convert that interest into a transaction. Marketing strategies attract cold, warm and hot leads, while sales techniques turn them into full customers.

Detailed explanation-2: -Relationship marketing is a long-term strategy focused on the customer relationship, not on a single transaction. It focuses on ensuring customer satisfaction for the long-hual rather than simply for a quick sale.

Detailed explanation-3: -Relationship Marketing is a strategy of Customer Relationship Management (CRM) that emphasizes customer retention, satisfaction, and lifetime customer value. Its purpose is to market to current customers versus new customer acquisition through sales and advertising.

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