Asked by George Maillard Jr. on Jun 12, 2024
Verified
Employees at People 1st Credit Union are encouraged by management to establish long-term buyer-seller relationships. They strive to learn each customer's name so that they can be greeted as they walk in the door. This is an example of which business concept?
A) marketing concept
B) production concept
C) relationship marketing
D) customer marketing
Relationship Marketing
The philosophy of business that concentrates on establishing a long-term buyer-seller relationship for the benefit of both parties.
- Comprehend the concept of relationship marketing and its significance in creating customer loyalty.
Verified Answer
WG
Westside GeminiJun 13, 2024
Final Answer :
C
Explanation :
This is an example of relationship marketing, which focuses on building long-term relationships with customers rather than just making a single sale. By learning each customer's name and greeting them personally, the credit union is working to establish a lasting connection.
Learning Objectives
- Comprehend the concept of relationship marketing and its significance in creating customer loyalty.
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