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Explain What Is Meant by Relationship Marketing

question 65

Essay

Explain what is meant by relationship marketing.


Definitions:

Merit Pay Plan

A compensation strategy that rewards employees based on their performance and achievements rather than their position or seniority.

Unethical Behaviour

Actions that violate moral or professional standards of conduct.

Merit Pay Plans

Compensation strategies that award pay increases or bonuses to employees based on their performance or achievements.

Scanlon Plan

A type of gain-sharing program that incentivizes employees to improve productivity through teamwork and suggestions, sharing the resultant cost savings among employees and management.

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