A Business Philosophy and Set of Strategies,programs,and Systems That Focus

question 5

Multiple Choice

A business philosophy and set of strategies,programs,and systems that focus on identifying and building loyalty with a retailer's most valued customers is called:

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

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Definitions:

Drive-Reduction Theory

A theory suggesting that behavior is driven by the need to reduce drives such as hunger, which creates a state of tension.

Physiological Need

a basic bodily requirement that humans need to survive, like food, water, and shelter.

Homeostasis

The self-regulating process by which biological systems maintain stability while adjusting to changing external conditions.

Hungry Person

An individual experiencing the physical sensation of needing or wanting food, which may affect their mood and behavior.