The process of creating, maintaining and enhancing strong relationships with customers and other stakeholders is termed as which of the following?
A)Reverse Marketing
B)Reciprocal Buying
C)Relationship Marketing
D)Stakeholder Management

Question

Quizplus · Accepted Answer

Relationship marketing is a strategy focused on building and maintaining long-term relationships with customers and other stakeholders, such as suppliers and distributors. This approach involves creating value for customers beyond the actual product or service, with a focus on trust, communication, and personalized interactions. Reverse marketing refers to situations where customers actively seek out and approach a company, rather than the other way around. Reciprocal buying involves a mutual exchange of goods or services between two parties. Stakeholder management involves identifying and prioritizing the needs of different stakeholders, such as employees, investors, and customers, and balancing these interests to ensure the long-term success of the business. While all of these concepts are important in business, relationship marketing specifically refers to the process of building strong, ongoing relationships with customers and other stakeholders.

The Process of Creating, Maintaining and Enhancing Strong Relationships with Customers