Customer retention
What Customer retention means in Business GCSE, as defined for AQA, OCR, Pearson Edexcel.
Definitions of Customer retention
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Reference: Pearson Edexcel
Maintaining customer relationships and encouraging repeat business, which e-newsletters foster through direct, personalised updates to existing customers.
Keeping customers so that dissatisfied ones do not stop buying and switch to a competitor, which would reduce revenue.
The ability of a business to keep its existing customers coming back to make repeat purchases.
The ability of a business to keep its existing customers returning to buy again.
Topics that use Customer retention
- Good customer services (AQA GCSE)
- Quality of goods and services (OCR GCSE)
- The sales process and customer service (OCR GCSE)
- Promotion (Pearson Edexcel GCSE)
Related terms
- Customer Service
- Product knowledge
- Brand awareness
- Brand reputation and repeat custom
- Business costs and benefits
- Business reputation
- Communication and feedback
- Communication channels
Using Customer retention in the exam
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