Relationship Marketing Refers to Which of the Following

question 44

Multiple Choice

Relationship marketing refers to which of the following?

• A)Concerns the renewed focus on the acquisition of new customers and the subsequent management of relationships with the new customers
• B)Concerns the shifting from activities of attracting customers to activities concerned with current customers and how to retain them
• C)Concerns the management of relationships with all the external facilitators (e.g. suppliers, partners etc.) that help delivery of the product/ service to the final consumer
• D)Concerns initiatives to improve the relations between internal departments of an organization, in order to make the whole organization more customer focused

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Definitions:

Indifference Curve

An indifference curve represents a set of combinations of goods and services among which a consumer is indifferent, reflecting preferences and trade-offs.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Money Income

The total earnings received by an individual or household in the form of wages, salaries, benefits, and other monetary sources before any deductions.

Prices

The amount of money required to purchase a good or service, determined by factors like supply, demand, and market competition.