Definitions by Design - Business Management Glossary  
Business Management Definitions - R

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R&D/Research and Development
A company's activities that are directed toward developing new products, procedures, or services.

 

 

Relationship Marketing
The approach which emphasizes a company's pursuit of a long-term relationship with its customer base. It emphasizes the importance of minimizing customer turnover; increasing customer loyalty; enhancing customer service and quality; and developing a series of transactions rather than individual sales with consumers.

 

 

Retail Mix
A marketing term that refers to the variables that a retailer can combine in various ways to arrive at a marketing strategy for attracting consumers. The variables usually include factors such as merchandise variety; services offered; pricing; advertising; promotion; physical layout; store design; store location; and visual merchandising.






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