Without Understanding CRM's Impact,a Business Cannot Understand Whether Its CRM

question 51

Multiple Choice

Without understanding CRM's impact,a business cannot understand whether its CRM practices are adding to its success.How can organisations best understand their CRM's impact?

• A)CRM metrics
• B)Customer conversions
• C)Service requests
• D)Order cycle times

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Definitions:

Supplier Technology

The technical capabilities and innovations offered by a supplier that can impact the quality, delivery, and cost of their products or services.

Total Costs of Ownership (TCO)

An evaluation of the total expenses associated with purchasing, operating, and maintaining a product over its entire lifecycle.

Standard Cost Models

Accounting models that use predetermined costs for calculating inventory valuations, cost of goods sold, and assessing operational efficiency.

Pretransaction Costs

Expenses incurred before the actual purchase or transaction takes place, such as research, supplier evaluation, and negotiation costs.