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Companies may be good at capturing demographic data, such as gender, age, income, and education, and connecting them with purchasing information to categorize customers into profitability tiers, but this is only a firm's industrial view of customer relationships. [30]
Ultimately, the goal is to improve the long-term interests of both parties through cooperative relationships. The study also argues that the cost of maintaining an old customer is far lower than the cost of developing a new customer and that maintaining a relationship with old consumers is more economical than developing new customers.
Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
Relationship maintenance (or relational maintenance) refers to a variety of behaviors exhibited by relational partners in an effort to maintain that relationship.Scholars define relational maintenance in four different ways: [1] to keep a relationship in existence, to keep a relationship in a specified state or condition, to keep a relationship in a satisfactory condition, and to keep a ...
Kit Hoover is seeking out advice for her listeners on how to maintain a relationship with exes one week after Us Weekly confirmed that she and her husband, Crowley Sullivan, split. “You’re ...
Business relations are connections between stakeholders in the process of businesses, such as employer–employee relationships, managers as well as outsourced business partners. The association of businesses began relationships that have been constructed through communication channels such as the likes of telephones , personal contacts, and e ...
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