Customer acquisition strategies and the marketing mix
Discussions of marketing have traditionally focused attention on how to attract new customers – a process typically described as customer acquisition. Increasingly it is recognized that the retention of existing customers may be every bit as important as the acquisition of new ones. The elements of marketing used for acquisition and retention are in many respects very similar, but the ways in which they are used can be quite different. In Part II of this text we focus upon aspects of marketing management which are particularly concerned with the acquisition of new customers. Specifically, we focus on the well-established concept of the marketing mix which is introduced in this chapter and subsequently explored in more detail.