Which of the Following Strategies Involves Building, Maintaining, and Enhancing

question 150

Multiple Choice

Which of the following strategies involves building, maintaining, and enhancing interactions with customers and other parties so as to develop long-term satisfaction through mutually beneficial partnerships?

• A) customer maximization
• B) relationship management
• C) a developing strategic alliance
• D) profit maximization

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Definitions:

Average Total Cost

The total cost of production divided by the total quantity of output produced.

Legal Cartel Theory

A concept where regulations permit or create conditions for the existence of cartels, which are agreements between competing firms to control prices or markets.

Public Interest Theory

Suggests that regulations are supplied in response to the demand of the public for the correction of inefficient or inequitable market practices.

Price-fixing Theory

The economic analysis concerning agreements between competitors to sell a product or service at a set price, limiting competition.