In Managing Customer Relationships, the Three Primary Ways Profits Can

question 116

Multiple Choice

In managing customer relationships, the three primary ways profits can be obtained are by

• A)acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
• B)enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
• C)extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
• D)eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
• E)enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

Acknowledge the historical and theoretical foundations of health promotion practices.

Understand the physical and cognitive changes associated with aging.

Identify normal age-related changes versus health-related issues in older adults.

Know appropriate nursing interventions and care strategies for elderly patients.

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Definitions:

Gross Profit

Revenue minus the cost of goods sold, indicating the efficiency of a company in managing its labor and supplies in producing goods.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding direct production costs, such as rent, utilities, and administrative salaries.

Perpetual Inventory System

An inventory accounting system where adjustments to inventory levels are continuously recorded on a transaction by transaction basis.

Acquisition of Merchandise

The process of obtaining goods for sale, typically involving selection, ordering, and purchasing from suppliers.