Many marketers believe that both the strategies of gaining more customers, increasing market penetration or customer acquisition, and selling more to existing customers, retention or loyalty strategy, are equally good. However, the loyalty strategy is often the chosen route due to the cost of acquiring new customers.
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What’s the purpose of B2B marketing? Ask the question of any attentive marketing student and they’re likely to reel off a description that somewhere, somehow, involves increasing demand for the company’s products. But marketing is also about managing demand, too, which may actually require reducing demand – or moving demand away from particular products in a company’s range. That said, it still seems counter-intuitive to create marketing or sales materials aimed at putting a dent in sales…