"Loyalty banking" programs are an example of ________.
A) industrial marketing
B) relationship marketing
C) personal selling
D) economic marketing

Question

Quizplus · Accepted Answer

Loyalty banking programs focus on building long-term relationships with customers and incentivizing them to continue using the bank's services. This is a key aspect of relationship marketing, which places a strong emphasis on building and maintaining lasting connections with customers through personalized communication and targeted promotions. Industrial marketing involves selling goods and services to other businesses, while personal selling refers specifically to the process of one-on-one sales interactions with customers. Economic marketing, while a valid concept, is not directly relevant to loyalty banking programs.

"Loyalty Banking" Programs Are an Example of ________