A CRM Program Primarily Attempts to Monitor And/or Manage Three

question 11

Essay

A CRM program primarily attempts to monitor and/or manage three things: an organization's customers, sales force, and customer service level.
List two different tools or components of CRM for each of three areas:
a.Customers
b.Sales Force
c.Customer Service Level
Describe how each tool or component is utilized in the monitoring and/or managing of the customers, sales force, or customer service level.

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Definitions:

Replacement Projects

Investments undertaken to replace old or obsolete assets with new ones, aiming to maintain or enhance efficiency, productivity, or the competitive position of a business.

Sunk Costs

Costs that have already been incurred and cannot be recovered, and thus should not factor into the decision-making process for future investments.

Internal Rate of Return (IRR)

A metric used in capital budgeting to estimate the profitability of potential investments, calculated as the discount rate that makes the net present value of all cash flows equal to zero.

Net Present Value (NPV)

A method used in capital budgeting to assess the profitability of an investment or project by calculating the difference between the present value of cash inflows and outflows.