Question

In addition to the new designer, Burberry also stepped up its involvement in social media, relationships with style magazines and connecting with high-profile trendsetters, such as Sarah Jessica Parker. This is an example of which functional-level strategy? a.Streamlining processes to take out unnecessary steps b.Customization of the product offering to reach different market segments c.Marketing efforts focused on brand building and perceived differentiation from rivals d.Increasing customer retention and reducing customer churn

Answer 1

Letter D is correct! Increasing customer retention and reducing customer churn.

Relationship marketing is a set of actions that a company uses to strengthen its relationship with the customer, in order to retain and retain them. The addition of Burberry has increased its involvement in social media with the goal of staying closer to its customers and offering benefits such as collaboration with a famous actress. This strategy strengthens the customer-brand relationship by translating the brand's interest in meeting its customer's needs and wants and thus strengthening brand recognition in the marketplace.