Because Many Services Involve a Process of Continuous Interaction Between

question 160

Multiple Choice

Because many services involve a process of continuous interaction between the service organization and the customer,_____ marketing is an important strategy.

• A) interactive
• B) relationship
• C) patronage
• D) nonprofit
• E) affiliation

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Definitions:

Decline

A decrease in the quantity, quality, or level of something over time.

Constant-Cost Industry

An industry in which the cost of production does not change as the industry's output changes.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a period long enough for firms to enter or exit the market.

Prices of Resources

The costs associated with acquiring the inputs needed for production, such as labor, raw materials, and capital.