Norms

question 64

Multiple Choice

Norms:

• A) are specific rules of behavior.
• B) prescribe limits of acceptable behavior.
• C) are agreed-upon rules of behavior.
• D) are shared rules of behavior.
• E) all of the above

Recognize different customer profitability analysis categories.

Identify the factors that influence customer profitability, including networking and learning potential.

Grasp the importance of customer relationship management and the role of customer portfolios.

Realize the significance of word-of-mouth in acquiring new customer relationships.

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Definitions:

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief or behavior or for a chain of reasoning.

Behavioral Predictions

The process of forecasting individual or group behaviors based on past actions, trends, or patterns.

Overconfidence

The tendency to hold too strong a belief in one's own abilities, judgments, or predictions, often leading to errors or mistakes.

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner that is shared by nearly all people.