Question

The technological component of the communication, transaction, and relationship building functions of a business that leverages the network of customers and prospects to promote value co-creation is known as _____ ______.

A) Customer Relationship Management (CRM)
B) Social Media Marketing (SMM)
C) Customer Engagement Platform (CEP)
D) Networked Value Promotion (NVP)

Answer 1

A Customer Engagement Platform (CEP) is the technological component of a business that leverages the network of customers and prospects to promote value co-creation through communication, transaction, and relationship building.

Step-by-step explanation:

The technological component of the communication, transaction, and relationship building functions of a business that leverages the network of customers and prospects to promote value co-creation is known as Customer Engagement Platform (CEP). A Customer Engagement Platform is a software solution that integrates various communication channels like social media, email, and online chat to facilitate customer interactions and enhance customer experience. It provides businesses with the tools to manage and analyze customer interactions, promote collaboration, and personalize communication.