Sample Thesis Paper
Research into customer purchase trends has also proven over time that the cost of acquiring a new customer and initiating the relationship and identity building process costs over five times more than it does to continue an already founded relationship with a former customer (Peck 1997). Of course, the figure varies from industry to industry, but it is important to note that this overall trend remains the same. If success is to be achieved, it is imperative for an organization to realize that potential migration is the primary threat to the company. Marketing gurus around the world now speak of the importance of the retention programs for the organization instead of the acquiring process as part of their CRM strategies (Gitomer 2005).