Customer Retention

Customer retention is not as important as attracting new customers

• TRUE

• FALSE

Customers develop a stronger loyalty to those companies that show an interest in them

• TRUE

• FALSE

Existing customers will accept a decline in service without question.

• TRUE

• FALSE

Customer lifetime value is the percentage of customers who leave in one year

• TRUE

• FALSE

Customer retention involves conveying to the customer that they are more than just a business contact

• TRUE

• FALSE

When establishing a customer-retention program, it is important to examine who

your customers are and what specific needs they have.

• TRUE

• FALSE

When measuring current customer satisfaction, the upcoming advertising campaign is an important consideration.

• TRUE

• FALSE

Informal surveys are statistically measurable and are therefore an extremely reliable source of information

• TRUE

• FALSE

Focus groups are random groups of customers or prospective customers who are brought together to discuss current or future offerings of a business

• TRUE

• FALSE

Seeking feedback from customers will never result in positive customer retention

• TRUE

• FALSE