Business Organizations Are Recognizing the Value of Sales Data and Are

question 50

Multiple Choice

Business organizations are recognizing the value of sales data and are purchasing software solutions to gather, maintain, and use these data to provide better service and promote customer loyalty.These software solutions are called:

• A)Customer relations data solutions
• B)Customer relationship management solutions
• C)Sales data management solutions
• D)none of the above

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Definitions:

Accounting Profits

The difference between total revenues and explicit costs, representing the net income a company reports on its financial statements.

Most Efficient Output

The level of production at which a firm operates with the lowest average total cost, achieving optimal efficiency.

Long Run

A period in economic analysis in which all inputs can be adjusted and no factors are fixed.

Perfect Competition

a market structure characterized by a large number of small firms, producing identical products, with no single firm able to influence the market price.