The Ultimate Aim of Customer Relationship Management Is to _

question 58

Multiple Choice

The ultimate aim of customer relationship management is to _ .

• A) produce high customer equity
• B) turn "strangers" into "butterflies"
• C) divide markets into distinct segments
• D) evaluate current sales share
• E) evaluate customer lifetime value

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Definitions:

Elastic Demand

Describes a market condition in which the demand for a product is sensitive to price changes.

Target Costing

A pricing strategy in which the selling price and profit margin are used to determine the maximum cost that can be incurred on a product, with the aim of ensuring competitiveness and profitability.

Target Profit

The specific net income a business intends to reach within a designated timeframe.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good.