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Discuss how customer relationship management software may assist a firm in understanding its customer needs and preferences,both present and anticipated.
Contribution Margin
The amount of revenue remaining after deducting variable costs, which can then be used to cover fixed costs and contribute to profit.
Product Mix
The variety of products that a company produces or sells, considering the diversity in type, size, and quality.
Prime Cost
The sum of direct materials and direct labor costs associated with the production of goods.
Manufacturing Overhead
Indirect costs associated with manufacturing, such as utilities, maintenance, and factory equipment depreciation, not directly tied to specific units of product.
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