Customer satisfaction-customer retention and profitability

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There clearly seems to be a relationship between customer satisfaction, customer retention and profitability. For example, the whole concept of Customer Lifetime Value suggests that we need to consider the profits received from customers from all of the transactions over their lifetime. Further, we know that other organizations are constantly vying for our customers. In this conference, please share your thoughts and perspectives on this issue. Especially, consider the difficulty of customer retention during economic downturns. You might also want to investigate the experience of McDonald’s, NetFlix, Bank of America or some of the many other companies in the news in regard to their efforts to retain customers and maximize profits.

Reference no: EM131482173

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