In the context of customer relationship management (CRM), a firm selling a high-ticket product to a small customer base is most likely to:
A)pursue a full partnership with each of its key clients.
B)develop a limited relationship with its customers.
C)implement a soft-sell approach.
D)exclude its customers from the key aspects of the product development process.

Question

Quizplus · Accepted Answer

Selling a high-ticket product to a small customer base suggests that the customers are critical to the success of the business. Pursuing a full partnership with each key client allows the firm to understand their needs and tailor the product and experience as per their requirements, thus building long-term relationships and loyalty. This approach of creating a partnership and mutually beneficial relationship is a key aspect of CRM.

In the Context of Customer Relationship Management (CRM), a Firm