Answer: False. An arm's length transactional relationship is typically not one of the best approach for building a long-term relationship with a customer. An arm's length transactional relationship refers to a situation where interactions between a business and a customer are primarily focused on individual transactions without much deeper connection or ongoing engagement.
Step-by-step explanation: In contrast, a long-term relationship with a customer is usually based on trust and mutual understanding. It involves going beyond transactions to establish a deeper connection and providing ongoing support and personalized experiences. Building a long-term relationship requires a customer-centric approach, proactive problem-solving, and a focus on customer satisfaction and loyalty.