Building and Maintaining Profitable Customer Relationships by Delivering Superior Customer

question 53

Multiple Choice

Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called ________.

• A) customer lifetime value
• B) customer-perceived value
• C) customer relationship management
• D) partner relationship management
• E) customer equity

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Definitions:

Quantum Meruit

A legal principle meaning "as much as he has earned," used to determine compensation based on the value of services rendered when no contract price is agreed upon.

Valid Contract

A legally binding agreement between parties that meets all required elements, such as offer, acceptance, consideration, and lawful purpose.

Eliminates Need

Removes the requirement or necessity for something, making it unnecessary.

Valid Offer

A proposal made in terms which are clear enough to be accepted and form a legally binding contract.