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customer retention is one of the promotional tools which is one of the marketing tools or marketing programs called (marketing mix) which is one of the marketing jobs.
So always marketing is the base and most important.Marketing is at the first, last and everywhere in between
manily both.but if bussines has a long presence than priroty to new prospect: means new business than after CR.if business is a new than carefull for customer retaintion,it can ruin loyal customer,repeat business and new customer.
so depend on situation and target segment for marketing .
Looking at business operations from a cost perspective, a companyspends much less to retain customers than to prospect for new. Both are vital to the health of a business and a balance much be reached.