The Strategy of Improving Relationships with Existing Customers,which Is Based

question 27

Multiple Choice

The strategy of improving relationships with existing customers,which is based on the assumption that most customers prefer to maintain an ongoing relationship with one organization rather than switch continually among providers in their search for value,is defined as ______.

• A) customer value
• B) relationship marketing
• C) teamwork
• D) empowerment

---

Definitions:

"50 Percent" Rule

refers to an insurance rule where a damaged vehicle is considered a total loss if the cost of repair is 50 percent or more of its value before the damage.

Medical Expenses

Costs incurred for medical treatment and care, including consultations, procedures, medications, and hospital stays.

Tort Action

A legal lawsuit involving a civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act.

Foreseeable Risk

A hazard or threat that is known, or should have been known, under certain circumstances, necessitating its management or mitigation.