When a company seeks to keep its customers engaged and satisfied, which strategy are they employing?

The strategy employed when a company focuses on keeping its customers engaged and satisfied is customer relationship management. This approach involves using data and strategies to understand and respond to customer needs and preferences.

Customer relationship management (CRM) emphasizes building strong relationships with customers, enhancing their experiences, and increasing their loyalty over time. It involves various tactics, including personalized communication, feedback mechanisms, and tailored marketing efforts that address the specific needs of the consumer. By implementing CRM, companies can foster long-term engagement and satisfaction, which can lead to repeat business and referrals.

In contrast, market penetration focuses on increasing a company’s market share in its existing markets, which does not necessarily address ongoing customer engagement. Brand loyalty refers more specifically to a customer's commitment to repurchase or continue using a brand, which is a result of successful customer relationship management rather than a strategy in itself. Competitor analysis involves studying competitors to identify their strengths and weaknesses but does not directly involve strategies aimed at customer engagement and satisfaction.