A Key Element of Customer Relationship Management Is To

question 40

Multiple Choice

A key element of customer relationship management is to:

• A)keep the price of goods as low as possible.
• B)develop a strategy to achieve the largest possible market share.
• C)allow customers to participate in the management of the firm.
• D)learn as much as possible about customers.

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Definitions:

Direct Materials

Direct materials refer to the raw materials that become an integral part of the finished product and can be easily traced back to it.

Direct Labor-Hours

Complete work hours of employees directly incorporated in production tasks.

Variable Overhead

Indirect production costs that vary with the level of production, such as electricity costs or materials used in the maintenance of machinery.

Manufacturing Overhead

All indirect costs associated with manufacturing, such as indirect materials, indirect labor, and other overhead costs.