51
increases of between 25 and 85 percent.
In the US, Domino’s Pizza estimates that a regular customer is
52
more than five thousand dollars over ten years. A customer who receives a poor quality product or
53
on their first visit and
54
never returns, is losing the company thousands of dollars in
55
profits (more if you consider how many people they are likely to tell about their bad experience).
The logic behind cultivating customer
56
is impossible to deny. “In practice most companies’ marketing effort is focused on getting customers, with little attention paid to
57
them”, says Adrian Payne of Cornfield University’s School of Management. “Research suggests that there is a close relationship between retaining customers and making profits.
58
customers tend to buy more, are predictable and usually cost less to service than new customers. Furthermore, they tend to be less price
59
, and may provide free word-of-mouth advertising. Retaining customers also makes it
60
for competitors to enter a market or increase their share of a market.”
1.A. in particular B. in reality C. at least
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