Marketing, Competition, and the Customer Exam Practice ✍🏽
LIT Trendz is a public limited company. It makes a range of clothing products including T-shirts and jeans for the mass market.
Last year LIT Trendz’s revenue fell. The Marketing Director has been looking at some results from its primary market research. 10% more customers bought clothing products online this year. LIT Trendz currently has a large customer base. She believes maintaining customer loyalty is more important than attracting new customers.
(e) Do you think maintaining customer loyalty should be more important to a business than attracting new customers? Justify your answer.