BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In the Business Model Canvas, the Customer Relationships building block describes the type of relationships a business creates with different customer segments. In short, these represent the set of actions a company needs to take in order to grow and maintain its customer base.

Detailed explanation-2: -The Business Model Canvas consists of nine essential parts: Customer Segments, Value Proposition, Revenue Streams, Channels, Customer Relationships, Key Activities, Key Resources, Key Partners, and Cost Structure.

Detailed explanation-3: -Customer Relationships Describes the types of relationships a company establishes with specific Customer Segments. A company should clarify the type of relationship it wants to establish with each Customer Segment. Relationships can range from personal to automated.

Detailed explanation-4: -Customer Relationships grow by carefully integrating what the business wants and offers with what the customer wants and expects. The purpose of the Customer Relationships block on the canvas is to provide a space to capture how the business will acquire customers, retain them, and grow sales and the customer base.