Afia, a Team Leader in Charge of Customer Relationship Management

question 93

Multiple Choice

Afia, a team leader in charge of customer relationship management, is planning strategies for improving the profitability of her firm's least profitable but loyal customers. She is also examining methods for "firing" customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong?

• A)butterflies
• B)true friends
• C)strangers
• D)barnacles
• E)short-term customers

Understand the relationship between marginal cost, average total cost, and price in determining long-run equilibrium.

Identify the conditions under which purely competitive firms make economic profits or losses in the short run and long run.

Evaluate the impact of technological changes, entry and exit of firms, and resource price changes on the industry's supply curve and market equilibrium.

Distinguish between allocative efficiency and productive efficiency in the context of purely competitive markets.

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Definitions:

Disciplinary Action

Measures taken by an organization against an employee who has violated company policies or failed to meet expected standards of conduct.

Conciliation and Mediation Services

Services focused on resolving disputes between parties through mutual agreement, without resorting to legal action.

Union Members

Individuals who belong to a labor union, an organized association of workers formed to protect and further their rights and interests.

Visible Minorities

Refers to groups of people who are not of the dominant race in a given society and who are recognizable by their distinct physical characteristics.