Asked by Mikerlange Charles on Jun 06, 2024
Verified
Which of the following reduces buyer power?
A) Globalization
B) Loyalty programs
C) Intermediation
D) Internet searching
Buyer Power
The influence that consumers have on the pricing and availability of goods and services in a market.
Loyalty Programs
Marketing strategies designed by businesses to encourage repeat customers by offering rewards, discounts, or other incentives.
Globalization
The process by which businesses or other organizations develop international influence or start operating on an international scale, often associated with cultural and economic integration.
- Identify the strategies employed by companies to reduce buyer power and increase customer loyalty.
Verified Answer
Learning Objectives
- Identify the strategies employed by companies to reduce buyer power and increase customer loyalty.
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