A Company's First Step in Customer Relationship Management Should Be

question 94

Multiple Choice

A company's first step in customer relationship management should be to ________.

• A)rank its customers in terms of sales volume
• B)identify customers that cost the company money
• C)identify types of transactions and determine which will be abandoned
• D)identify customers and get to know them in as much detail as possible
• E)determine which aspect of the product will be customized to meet the individual needs of its customers

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Definitions:

Variety of Products

An assortment or range of different items or merchandise that a company offers to meet diverse customer needs and preferences.

Operations Management

The administration of business practices aimed at ensuring maximum efficiency within a company, focusing on managing processes that transform inputs into outputs.

Executive Compensation

The total of all benefits, perks, and salary provided to top-level management and company executives, reflecting their role and responsibilities.

Resource Acquisition

The process of identifying, obtaining, and managing resources needed by an organization for its operations.