A focus on long-run customer satisfaction is an important component of relationship retailing.

Question

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Relationship retailing focuses on building long-term relationships with customers, which means that the retailer prioritizes customer satisfaction over short-term gains. This approach involves understanding customers' needs, preferences, and shopping behaviors to provide personalized and relevant experiences that lead to loyal customers who return for repeat purchases over time. By fostering strong relationships with customers, retailers can increase lifetime customer value and improve brand reputation.

A Focus on Long-Run Customer Satisfaction Is an Important Component