MANAGEMENT

Detailed explanation-1: -The company can segregate its customers into groups based on their characteristics like purchasing power, frequency and volume of sale transactions. Marketing allows the consumer to experience the brand, usually by utilizing multiple touch points and targeting multiple senses.

Detailed explanation-2: -Definition: Demographic segmentation groups customers and potential customers together by focusing on certain traits such as age, gender, income, occupation & family status.

Detailed explanation-3: -The 4 components of customer relationship management are satisfaction, loyalty, profitability, and customer retention. Read on to learn more.

Detailed explanation-4: -3 keys to building customer relations, according to the experts. Some of the simplest wisdom about customer relations is the best: Be kind. Treat everyone as a human being. Know your stuff.

Detailed explanation-5: -Offer rewards Reward your customers for coming back with a loyalty program, be it a with a digital software program or an old-school punch card. Loyalty programs serve as encouragement to return, and are especially helpful to differentiate your business from similar ones in your area, respondents said.