Which of the Following Defines CRM

question 65

Multiple Choice

Which of the following defines CRM?

• A) An approach to inventory that seeks to eliminate excess waste and reduce inventory to a minimal level.
• B) A computerized inventory control system that schedules the production of goods and takes into consideration the available and the required inventory.
• C) The active management of the distribution of materials throughout a system.
• D) A series of techniques designed to eliminate waste from manufacturing and service processes and provide greater customer value.
• E) A service approach that hopes to build a long-term and sustainable relationship with customers that has value for both the customer and the company.

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Definitions:

Maximum Price

A price ceiling set by a governing body meant to control the maximum price that can be charged for a product or service, often implemented to prevent prices from reaching levels considered too high for consumers to afford.

Equilibrium Price

The price at which the quantity of a good supplied is equal to the quantity of the good demanded.

Price Ceiling

A legal maximum price that can be charged for a good or service, intended to protect consumers.

Price Ceiling

A legally imposed maximum price on goods or services, intended to protect consumers from high costs.