Assignment: Customer Retention & Satisfaction
Overview
Customer retention is key in maintaining a successful business. The cost of gaining a new customer is much greater than the cost of keeping one satisfied. Today's customer expects availability, accessibility and accountability as there are many technologies available that should allow a business to offer all three.
Instructions
Part A:
Locate an online article related to customer retention and customer satisfaction, which provides an example of the importance of these topics in business today.
Briefly summarize the article, relating it to specific information discussed in your text. Identify how the practices of the business are addressing the customer expectations of availability, accessibility and accountability. Address how the needs of the twenty-first century are being met by the points in the article.
Part B:
The second part of the paper should include the following:
1) Your assessment of how customer satisfaction and retention are related and need to be valued in regards to business processes.
2) Support your finding with examples of your own personal experiences into your assessment of this topic
3) Relate your assessment to the information discussed in your text in regards to this topic.
Format your assignment according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.