5 Questions
Which theory suggests that an individual's self-concept is partially derived from group memberships, and people tend to have a favorable bias towards their own group?
Social Identity Theory
Which theory focuses on the exchange of goods, services, and resources between parties in a relationship?
Social Exchange Theory
Which theory emphasizes the value of a customer to a business over their lifetime?
Customer Lifetime Value (CLV)
Which theory suggests that businesses can build stronger relationships with customers by tapping into their social identity?
Social Identity Theory
Which theory focuses on dividing customers into distinct groups based on their characteristics and behaviors?
Customer Segmentation
Test your knowledge on the theories of relationships in Customer Relationship Management (CRM). This quiz covers various theories and frameworks that explain and guide the relationships between businesses and their customers. Challenge yourself and see how well you understand the concepts of CRM.
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