CRM Systems

question 16

Multiple Choice

CRM systems:

• A) focus only on gathering information about new sales.
• B) add a relationship marketing focus.
• C) emphasise customer retention.
• D) options A and C.
• E) options B and C.

---

Definitions:

Elastic

Describes the responsiveness of demand or supply to changes in price or income.

Free Entry

A market condition where there are no barriers or restrictions preventing new competitors from joining the market.

Long-Run Profits

Long-Run Profits refer to the sustained earnings a firm can achieve over time, considering all input costs are variable and market conditions may change.

Fixed Costs

Costs that do not vary with the quantity of output produced