In the Practice of Relationship Marketing, the Definition of a Customer

question 72

Multiple Choice

In the practice of relationship marketing, the definition of a customer is taken to another level. Which of the following best illustrates how a company practicing relationship marketing is different from a traditional transaction-based marketer?

• A) The city pool allows kids 12 years and younger to swim for free on Fridays.
• B) A local coffee shop distributes coupons for $.50 off each cup of coffee.
• C) The purchasing department of a defense contractor invites its suppliers to attend an annual golf outing.
• D) The heads of the financial departments meet with the Chief Financial Officer to discuss year-end financial reporting.

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Definitions:

Mutual Fund

An investment program funded by shareholders that trades in diversified holdings and is professionally managed.

Annual Management Fee

A charge by investment managers for managing assets, calculated as a percentage of the total assets under management annually.

Overtime Wages

Additional compensation paid to employees for hours worked beyond the standard working hours, typically at a higher rate.

Hourly Rate

The total compensation or income received per hour of employment.