Concepts of customer satisfaction and customer loyalty

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1. Compare the concepts of customer satisfaction and customer loyalty. Are they related? Does one follow the other? Which of the two is more relevant to a business? Why? Explain.

2. “Acquiring new customers can cost five times more than satisfying and retaining current ones.” Why so? Explain. Justify the statement using the Marketing Funnel Concept

3. Write about 2000-2500words benchmarking in quality in project management. Must have 3-5 references

Reference no: EM132278006

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