Which of the Following Is a Component of Relationship Management

question 64

Multiple Choice

Which of the following is a component of relationship management?

• A) converting prospects into customers who need to be supported
• B) increasing the value of existing customers by selling them more products
• C) positioning products in the minds of customers through promotional strategies
• D) sending messages to target audiences to attract customer prospects

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Definitions:

Barrier To Entry

Factors that prevent or hinder companies from entering a specific market or industry.

Invention And Innovation

Invention refers to the creation of new ideas, goods, or services, while innovation involves improving or implementing new ideas into existing products or processes.

Demand Schedule

A table that lists the quantity of a good or service that consumers are willing and able to purchase at various prices.

Marginal Cost

The cost upsurge due to the production of one extra unit of a product or service.