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2 months ago

Question 1.

One-to-one marketing is not for every company.  For whom does this style of marketing work best?

Question 2.

A 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry.  Explain how this is so.
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Marketing Management
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Answer 1

One-to-one marketing works best for companies that normally collect a great deal of individual customer information, carry a lot of products that can be cross-sold, carry products that need periodic replacement or upgrading, and sell products of high value.

Answer 2

Acquiring new customers can cost five times more than satisfying existing customers.  Customer profit rate also tends to increase over the life of the retained customer due to increased purchases, referrals, and price premiums and reduced operating costs to service.
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