A local swim team has 150 swimmers at any given time. The revenue from each swimmer is $960 per year, and the return on sales is 20%. It costs $100 to acquire every swimmer. The swim team currently does not spend on retaining its customers. 40% of its swimmers are new every year. The team decides to spend more on customer relationship marketing by organizing an annual banquet to retain more swimmers. An additional 10% percent of the swimmers will be retained if this banquet is held. This annual banquet will cost the team $10 per swimmer. Should the swim team spend on customer relationship marketing? Yes, because the team will make an additional profit of $450 No, because the team will make a loss of $450 Yes, because the team will increase revenues by $450 No, because the team will increase costs by $450 Recommended textbook solutions
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