Which of the Following Is a Step in One-To-One Marketing

question 18

Multiple Choice

Which of the following is a step in one-to-one marketing that can be adapted for CRM marketing?

• A) Identify the lifetime value of lost customers.
• B) Define and measure the retention rate of customers.
• C) Offer the lowest price for a particular product.
• D) Distinguish the causes of customer attrition.
• E) Customize products, services, and messages to each customer.

---

Definitions:

Economic Profit

The total revenue of a business minus both explicit and implicit costs.

Long-run Equilibrium

A state in which all firms in a market are making normal profits, with no incentive for entry or exit, indicating a stable market condition.

Competitive Price-searcher Market

A market condition where firms have some power to set prices due to product differentiation, yet must actively seek out the best prices and competition exists.

Zero Economic Profits

A situation in which a firm's total revenues exactly equal its total costs, implying no excess return over the opportunity cost of resources.