BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Establishing long term relationship
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One time transaction would be enough
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Pampering customers to help you support your business
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None of the above
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Detailed explanation-1: -Basic Components of Relationship Marketing Every relationship marketing needs to include these three basic components: customer service, customer feedback, and customer loyalty programs.
Detailed explanation-2: -Relationship Marketing is a strategy of Customer Relationship Management (CRM) that emphasizes customer retention, satisfaction, and lifetime customer value. Its purpose is to market to current customers versus new customer acquisition through sales and advertising.
Detailed explanation-3: -The Top Benefits of Relationship Marketing Increase customer satisfaction. Improve retention rates. Enhance word-of-mouth marketing. Lead to higher conversion rates.
Detailed explanation-4: -Building trust and commitment. Providing excellent customer service. Prioritizing customer retention (not acquisition) Focusing on how a product/service benefits the customer.