The business philosophy that relies on a set of strategies, programs, and systems that focus on identifying and building loyalty among a firm's most valued customers is called
A)GDP.
B)OEM.
C)GNI.
D)4Ps
E)CRM.

Question

Quizplus · Accepted Answer

The given description matches the concept of Customer Relationship Management (CRM) which focuses on identifying and building long-term relationships with the most valued customers of a firm. GDP (A) stands for Gross Domestic Product and is a measure of a country's economic performance. OEM (B) stands for Original Equipment Manufacturer and refers to a company that produces components or parts that are used in another company's product. GNI (C) stands for Gross National Income and is a measure of the income earned by a country's residents and businesses. 4Ps (D) stands for Product, Price, Promotion, and Place, which are the key elements of a firm's marketing mix strategy.

The Business Philosophy That Relies on a Set of Strategies