Examlex
The process cycle for CRM may be broken down into the following four elements: 
(1) knowledge discovery, (2) market planning, (3) customer interaction and (4) analysis and refinement.
Positive Profit
Positive profit occurs when a business's total revenues exceed its total costs, indicating financial gain from its operations.
Marginal Costs
Relates to the additional expenses faced when a business decides to increase its output or product quantity by one more unit.
Average Total Cost
The total cost of production divided by the quantity produced, representing the per-unit cost of production.
Price-Taker Industry
A sector in which businesses must accept the prevailing prices in the market as they have no influence over setting them.
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