Customer Relationship Management Refers to

question 240

Multiple Choice

Customer relationship management refers to

• A)the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
• B)the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace.
• C)the idea that an organization should (1)strive to satisfy the needs of consumers (2)while also trying to achieve the organization's goals.
• D)the links an organization has to its individual customers,employees,suppliers,and other partners for their mutual long-term benefit.
• E)the cluster of benefits that an organization promises customers to satisfy their needs.

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Definitions:

Diagonal Merger

A merger between companies in unrelated business activities, potentially for strategic integration or diversification.

Market Shares

The portion of a market controlled by a particular company, indicated as a percentage of total sales in the industry.

Hypothetical Industries

Hypothetical industries are theoretical or imaginary sectors created for the purpose of analysis or illustration, often used in economic models or educational contexts.

Buyer-Seller Relationships

Interactions and exchanges between buyers and sellers, which can range from transactional to collaborative partnerships.