The Two Primary Metrics in Customer Relationship Management (CRM)programs Are

question 123

Multiple Choice

The two primary metrics in customer relationship management (CRM) programs are:

• A)data-driven communications and data-driven marketing programs.
• B)lifetime value and customer cluster analysis.
• C)data mining and data coding.
• D)lifetime value of customers and share of customer.

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Definitions:

Actual Hours Incurred

The real number of hours worked or used in the completion of a task or production of a good, as opposed to the estimated hours.

Materials Price Variance

The difference between the actual cost of materials and the expected (standard) cost multiplied by the quantity of materials used.

Standard Costing System

A cost accounting system that uses standard costs for product costs and measures variances to actual costs for performance evaluation.

Overhead Volume Variance

The difference between the expected (budgeted) overhead costs and the actual overhead allocated based on actual volume of production.