Which of the Following Is True About Customer Relationship Management

question 118

Multiple Choice

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

• A) Data mining has limited applicability in CRM activities.
• B) Sophisticated analytical tools are sparingly used in CRM activities.
• C) CRM reduces the number of customer touch points.
• D) CRM aims to maximize customer loyalty.
• E) CRM enables firms to compare various product and service categories.

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Definitions:

Opportunity Cost

The expense incurred by not selecting the next most favorable option when deciding or opting for one action instead of another.

Hourly Wage

The amount of money paid to an employee for one hour of work.

Leisure

Time free from work or duties, which can be used for relaxation, hobbies, or cultural activities.

Substitution Effect

The transformation in purchasing decisions resulting from changes in the relative pricing of goods, compelling consumers to replace one good with another.