Building and Maintaining Profitable Value-Laden Relationships with Customers of a Company

question 160

Short Answer

Building and maintaining profitable value-laden relationships with customers of a company is called ________.
customer lifetime value
customer perceived value
customer relationship management
database marketing
societal marketing

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Definitions:

Availability of Substitutes

The presence of alternative goods or services that consumers can use in place of another.

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly altered when the price of that good or service changes.

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain period of time.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.