Reciprocal buying is a practice where a seller of a product or service also purchases another product or service from one of their customers, creating a mutually beneficial relationship.
Relationship capital refers to the value created by a business's relationships with external parties, such as customers, suppliers, and partners. This concept is a subcomponent of intellectual capital, focusing on the trust, loyalty, and long-term connections that can enhance business performance.
Relationship marketing is a strategy designed to foster long-term relationships with customers, suppliers, and distributors, aiming to enhance overall profitability and business success.
A trade reference is a critical component for assessing the creditworthiness of a trader, typically provided by another member within the same trade, often required by suppliers before extending credit terms.
