Building and maintaining profitable value-laden relationships with customers of a company is called ________.
A)customer lifetime value
B)customer perceived value
C)customer relationship management
D)database marketing
E)societal marketing

Question

Quizplus · Accepted Answer

Customer relationship management (CRM) is a strategy that focuses on developing and maintaining long-term relationships with customers. It involves using data and technology to manage interactions with customers and provide personalized experiences that create value for both the customer and the company. A high level of customer lifetime value and customer perceived value can be achieved through effective CRM practices. Database marketing, on the other hand, is a tactic that involves using customer data to target specific marketing messages to individuals, while societal marketing is a concept that focuses on the ethical and social responsibility of marketing activities.

Building and Maintaining Profitable Value-Laden Relationships with Customers of a Company