A Business Philosophy and Set of Strategies,programs,and Systems Which Focuses

question 47

Multiple Choice

A business philosophy and set of strategies,programs,and systems which focuses upon identifying and building loyalty with a retailer's most valued customer is called ______.

• A)customer loyalty management
• B)strategic relationship management
• C)most valued customer management
• D)strategic consumer management
• E)customer relationship management

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Definitions:

Systematic Improvement

An organized method of identifying and implementing the best practices to enhance efficiency, quality, and outcomes.

Scientific Management

A management theory that advocates for the scientific study of work methods to improve efficiency and productivity by optimizing tasks and work processes.

Max Weber

A German sociologist, philosopher, and political economist known for his theories on social organization, authority, and the development of capitalism.

Contingencies

Possible events or conditions that can occur in the future, often requiring planning or preparation.