You Have Just Identified the "Touch Points" of the 400

question 29

True/False

You have just identified the "touch points" of the 400 best customers in your database.At this point,you want to manage detailed information about each of them to maximize customer loyalty.You should use customer relationship management (CRM).

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Definitions:

Product Line Extension

The addition of new products to an existing product line within the same brand, usually to target a different customer segment or fill a gap in the product offering.

New-Product Strategies

The plans and approaches a business undertakes to bring new products to the market effectively.

Product Diversification

A strategy employed by companies to increase profitability and achieve growth by adding new products or entering into different markets that differ from the existing lineup.

Brand Extension

The strategy of using an established brand name to launch a new or modified product in a different category.