Which of the Following Is True About Customer Relationship Management

question 16

Multiple Choice

Which of the following is true about customer relationship management (CRM) ?

• A) It eliminates the need for primary research.
• B) It minimizes the need for costly marketing analytics.
• C) It relies on the use of exploratory and causal research.
• D) It consists of sophisticated software and analytical tools.
• E) It excludes data on existing customers to focus on potential customers.

Understand the effect of cost changes on supply and market equilibrium.

Explain the role of external factors such as natural disasters on markets.

Analyze the effect of competition on market operations and services.

Understand how supply and demand affect market equilibrium, prices, and quantities.

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Definitions:

Land Rent

The payment made for the use of land, which is determined by its location, fertility, and other factors influencing its productive capacity.

Acres

A unit of land area used in the United States and some other countries, equivalent to 43,560 square feet.

Relevant Columns

Important or pertinent columns in a database or spreadsheet that are significant to a particular analysis or task.

Positive Land Rent

The income received by landowners for the use of their land, typically due to the land's desirable location or fertility, which generates a return above the minimum needed to bring the land into production.