Which of the Following Statements About Technological Advance Is Not

question 156

Multiple Choice

Which of the following statements about technological advance is not true?

• A)It enhances both productive and allocative efficiency in the society.
• B)It can increase monopoly power through, for example, patents.
• C)It can eventually destroy old existing monopolies.
• D)It progresses automatically and inevitably.

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Definitions:

Customer Service

A direct one-on-one interaction between a consumer and a representative of the company aimed at enhancing the customer's experience.

Relationship Marketing

A strategy designed to foster customer loyalty, interaction and long-term engagement, developing strong connections with customers by providing them with information directly suited to their needs and interests.

Customer Relationship Management

A strategy for managing an organization's interactions with current and future customers, utilizing data analysis about customers' history with a company to improve business relationships.

Customer Value

The perception of what a product or service is worth to a customer versus the possible alternatives, reflecting the benefits, costs, and utility they receive.