An Important Aspect of Customer Relationship Management (CRM)is That It

question 145

Multiple Choice

An important aspect of customer relationship management (CRM) is that it .

• A)requires organizations to look at customers as partners
• B)requires organizations to view their customers as adversaries
• C)creates clear win- lose situations
• D)can be implemented using any form of mass communication channel
• E)allows marketers to create consumer wants and needs

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Definitions:

Revenue Management

The use of analytics and data to predict consumer behavior, optimize product availability and pricing, and maximize revenue growth.

Differential Pricing

Differential pricing is a strategy where a company charges different prices for the same product or service in different markets or segments, based on factors like customer willingness to pay, market demand, or competition.

Supply Chain Surplus

The difference between the value generated by the final product to the end consumer and the costs involved in the supply chain.

Fashion Apparel

Clothing and accessories designed and manufactured according to current trends and styles.