Contact Management Falls Under the Category of the Customer Service

question 69

True/False

Contact management falls under the category of the customer service department's CRM tools.

---

Definitions:

Price Maker

A firm or entity that has the power to influence the price of goods or services in the market due to a lack of significant competition.

Total Revenue

The overall amount of money generated by a business from selling its goods or services before any costs are subtracted.

Elastic Than Industry

A condition or scenario where a particular firm or product has a higher sensitivity to price changes compared to the overall industry.

Monopolist

A single seller in a market, possessing significant market power, and facing little to no competition in offering a unique product or service.