Customer Loyalty = Customer Retention

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Customer Loyalty = Customer Retention
Bernadette, Member
Most firms believe that customer satisfaction is customer loyalty. Customer loyalty helps a firm to retain its customers. The cost of a retained customer is less than the cost of attracting a new one. I believe that any firm should have more retained customers than new customers to be profitable. This is so because the cost of gaining new ones is normally higher than the profits of the retained customers.



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