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Not100 % although this is one of the prime goal of marketing but marketing should represent the way of communication and explanation of a organization or its products which can create a brand image, force the organization to maintain quality and WITHOUT ANY DOUBT the marketing should be able to generate revenue.
Rest retention of consumers always depends on quality and the service which are provided.
Marketing is creation of customer acquisition & retention.
Customer acquisition of course , customer loyalty is priceless
Yes That is one perspective.
100% Agreed! Marketing is all about customer acquisition and retention.
Existing customers are much easier to sell to. According to Marketing Matrices, the probability of converting an existing customer is60 percent to70 percent. The probability of converting a new prospect, on the other hand, is only5 percent to20 percent. These numbers make perfect sense, and as we all know, people are more responsive to individuals or companies they’re already familiar with, compared to complete strangers. -
Agree, as by all mean of effort we just acquiring and retaining customer
- Retention for me as they are the source of all marketing data that is required to analyse and hence create a strategic plan for customer acquisition.
Thank you all for answering my question, for me i would add " Brand Awareness " .
