Discuss the Need for a Total Customer Response Program and Outline

question 55

Essay

Discuss the need for a total customer response program and outline the keys for successful implementation of the program.

Understand the importance of reading and comprehending contracts to avoid unenforceable agreements.

Recognize that contracts are enforced according to their clear and obvious terms as determined by courts.

Differentiate between actual contracts and quasi contracts and understand their legal implications.

Grasp the concept that quasi contracts are imposed to ensure fairness and justice.

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Definitions:

Revenue

The result of the price charged to customers multiplied by the number of units sold.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Business Operation

The day-to-day activities and processes undertaken by a company to produce goods and provide services, maintain workflows, and generate profits.

Expenses

Costs incurred by a business in its operational activities.