________ Refers to Developing,maintaining,and Managing Long-Term Relationships with Customers So

question 29

Multiple Choice

________ refers to developing,maintaining,and managing long-term relationships with customers so that they will want to keep coming back.

• A)Customer Relationship Management
• B)Customer Retention Management
• C)Customer Management Software
• D)Customer Reassurance Management

---

Definitions:

Differentiated Products

Goods or services that are distinguished from one another by quality, design, features, or branding, allowing firms to compete on factors other than price.

Monopolist

A monopolist is a market participant that has exclusive control over the market for a particular good or service, without any competition.

Vigorously On Price

An expression that may not accurately define a specific economic term but suggests active competition or negotiation around prices. NO.

Bargaining Power

The relative capacity of parties in a negotiation to exert influence over each other, often influencing the terms and conditions of agreements.