Rather Than Focusing on Improving Cost Efficiencies, a CRM Program

question 45

True/False

Rather than focusing on improving cost efficiencies, a CRM program helps marketers focus on the effectiveness of each interaction with a customer.

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Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in a net profit or loss.

Owner's Equity Statement

A financial document detailing the changes in the equity of an owner in a company over a specific period.

Time Period Assumption

An accounting principle that suggests a business's activities can be divided into specific time periods for reporting purposes.

Fiscal Year

The one-year period an organization uses for accounting purposes and preparing financial statements, which may or may not align with the calendar year.