Question

Fat tire’s 20-year life would indicate their success at:

Answer 1

It would indicate their success at relationship marketing. Relationship marketing is a feature of customer relationship management (CRM) that centers on customer loyalty and long-term customer engagement instead of shorter-term goals like customer acquisition and individual sales. The aim of relationship marketing (or customer relationship marketing) is to make strong, even emotional, client connections to a product that can lead to ongoing business, free word-of-mouth advertising and data from customers that can generate leads.

Answer 2

The answer is relationship marketing.

Further Explanation:

Fat tire’s 20-year life will indicate success in relationship marketing. Relationship marketing is the ability to stay in close contact with customers by it can be understood how the customer uses the brand’s services and products. It is a facet of “Customer Relationship Management (CRM)” that focuses on the long term customer engagements rather than a short term goal like individual sales and customer acquisition.

The main aim of CRM is to create a strong and emotional career connection to a brand which can lead to ongoing business, free ‘word of mouth promotion’ and customer’s information that can generate leads.

It stands in opposition to the more “traditional transactional marketing approach” that focuses on the increase in the number of individual sales. Relationship marketing helps in retaining the customers over the long-term that results in customer’s loyalty rather than focusing on customers' purchase.  

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Answer Details:

Grade: College  

Chapter: Marketing  

Subject: Social Studies

Keywords: customer, information, business, traditional transactional, loyalty, relationship marketing, customer relationship management