MANAGEMENT

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BUISENESS MANAGEMENT

MARKETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Involves creating, maintaining and enhancing strong relationships withcustomers and other stakeholders. Increasingly, marketing is moving away from a focus on individual transactions and towards a focus on building value-ladenrelationships and marketing networks.
A
Word of mouth marketing
B
Relationship marketing
C
Customer relationship
D
None of the above
Explanation: 

Detailed explanation-1: -Definition of Relationship Marketing According to Gilaninia et al (2011) Relationship marketing involves creating, maintaining and enhancing strong relationships with customers and other stakeholders.

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: -A relationship marketing strategy uses a mix of tactics to promote long-term satisfaction and customer loyalty. Examples of relationship marketing include proactive customer service, loyalty programs, encouraging feedback, and promoting the benefits of a product rather than just its features.

Detailed explanation-4: -Relationship marketing refers to everything you do to develop strong, lifelong relationships with your customers.

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