2nd DAY FOURTH PERIODICAL MGA PAREEEE

Question 1

is a strategy that concentrates on keeping and improving relationships with existing customers.
it focuses on ensuring that prospective and current cusstomers maintain a long, profitable relationship with the company.

Answer 1

Relationship Marketing

Question 2

are lifeblood of every business

Answer 2

customers

Question 3

What does the customer value, satisfaction and retention means?

Answer 3

If acustoemrs see good value in a product, they are satisfied, making them loyal customers.

Question 4

is a ratio between the customer’s perceived benefits and the resources to obtain those benefits.

Answer 4

customer value

Question 5

is the evaluating of the product’s performance in relation to the expectations set by the customer.

Answer 5

customer satisfaction

Question 6

is an effort made by companies in order to keep customers happy and loyal.

Answer 6

customer retention.

Question 7

It is the economic and psychological difficulty perceived by the customers if they switch from one brand to another.

Answer 7

switching barrier

Question 8

are retention strategies that keep the customer buying the same brand.

Answer 8

Relationship bonds

Question 9

the customer patronizes a brand because of the financial incentives that he or se may receive form the company.

Answer 9

Financial Bond

Question 10

focuses on the social and interpersonal relationship between the company and the customer.

Answer 10

Social Bond

Question 11

Customer loyalty may be encouraged when customers are allowed to avail of tailored services to fit their individual needs.

Answer 11

Customization Bond

Question 12

Structural Bond financial, social, and customization bonds are all combined in order to deliver services that fit the need of the client or customer.

Answer 12

Structural Bond

Question 13

Define the evolution of customer relationship and the marketing goal at each stage/Relationship development stages

Answer 13

the first relationship of the customer to the product starts as strangers. They start to aquire the brand and its benefits through advertising. Second, they start to try the products of the company and investing a little by buying a product or two. Third, those customers who are satisfied with the company’s products and services will develop loyalty. Lastly, the customers will want to maintain loyalty but also enchance their relationship with the company.

Question 14

what are the marketing goal?

Answer 14

Acquiring, satisfying, retaining, enhancing

Question 15

Evolution Stage>

Answer 15

Strangers, Acquaintances, Friends, Partners