Transcription of Chapter 9 Managing the customer lifecycle: …
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Chapter 9 Managing the customer lifecycle: …
Chapter 9 Managing the customerlifecycle: customerretention anddevelopmentChapter objectivesBy the end of the Chapter , you will understand:1 what is meant by the term customer retention 2 the economics of customer retention3 how to select customers to target for retention4 the distinction between positive and negative customer retention5 several strategies for customer retention, including meeting and exceeding customerexpectations, finding new ways to add value, creating social and structural bonds, andbuilding emotional commitment6 the role of customer development7 why and how customers are sacked.
298 Customer Relationship Management Several important questions have to be answered when a company puts together a customer retention plan. Which customers will be targeted for retention?
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