Customer Relationship Management Refers to

question 22

Multiple Choice

Customer relationship management refers to

• A) the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
• B) the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace.
• C) the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
• D) the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
• E) the cluster of benefits that an organization promises customers to satisfy their needs.

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Definitions:

Pocket Money

An amount of money given at regular intervals by parents to their children, often to teach them about managing money.

Marginal Utilities

The incremental satisfaction or utility obtained through the consumption of an extra unit of a product or service.

Hard Candies

A type of confectionery that is based on sugar and other sweeteners, hardened into a solid mass.

Taste and Preference

The subjective individual factors that influence consumers' decisions to purchase or not purchase a product or service.