Firms Adopting a Relationship Marketing Strategy Often Establish a Database

question 5

True/False

Firms adopting a relationship marketing strategy often establish a database of information about each customer.

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Definitions:

Product or Service

The final output offered by a company to consumers, which can either be a tangible item (product) or an activity benefiting the customer (service).

Raw Materials Inventory

Goods or components that a company uses in the manufacture of finished products.

Completed Goods

Final products that have undergone the manufacturing process and are ready to be sold or distributed.

Cost

The total expense incurred in producing a product or providing a service, including materials, labor, and overhead charges.