Asked by Alyssa Palmer on Jun 03, 2024
Verified
A company that institutes a loyalty program in order to reward its most loyal customers and maintain a relationship with them is practicing _________ marketing.
Loyalty Program
A marketing strategy that rewards, and therefore encourages, loyal buying behavior, which is beneficial to the business.
Relationship Marketing
A strategic approach to marketing that focuses on building long-term relationships with customers through customer satisfaction and engagement rather than just focusing on individual transactions.
- Recognize the value and methods of maintaining customer relationships and loyalty.
Verified Answer
Learning Objectives
- Recognize the value and methods of maintaining customer relationships and loyalty.
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