If a Customer Has an RFM Score of 113,which of the Following

question 40

Multiple Choice

If a customer has an RFM score of 113,which of the following actions should be implemented by the sales team?

• A)should attempt to up-sell more expensive goods to this customer
• B)should contact this customer immediately
• C)should not waste any time on this customer
• D)should set up an automated contact system for this customer

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

Consumer Surplus

The contrast between the expected payment by consumers for a good or service and the actual price paid.

Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices during a given time period.

Market Demand

is the total amount of a product or service that consumers in a market are willing and able to purchase at different prices, during a certain time period.