_____ CRM Is One of the Approaches Used for Implementing

question 57

Multiple Choice

_____ CRM is one of the approaches used for implementing customer relationship management (CRM) applications that is often used by organizations with an established IT infrastructure,and is implemented much like any other IT system.

• A) Collaborative
• B) Reverse
• C) Web-based
• D) On-premise

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Definitions:

MC = MR

This signifies the point where Marginal Cost equals Marginal Revenue, optimizing profit for a firm.

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.

Monopoly Power

Refers to the capacity of a single firm or entity to control a majority share of a market, thus influencing prices and production levels without significant competition.

Natural Monopoly

An industry in which a single firm can provide cheaper service than could several competing firms.