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

question 55

Multiple Choice

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

• A) customer decision area
• B) customer loyalty
• C) customer relationship management
• D) intratype competition
• E) strategizing

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Definitions:

Price

The amount of money required to purchase a good, service, or asset.

Total Costs

The full expenditure associated with the production and delivery of products or services, encompassing both direct and indirect costs.

Deli

A store that sells prepared foods, such as sandwiches and salads, typically also offering a selection of meats and cheeses.

Maximize Profits

Refers to strategies or actions taken by businesses to increase their net earnings and return on investment.