A Multifaceted Process Focusing on Creating Two-Way Exchanges with Customers

question 23

Multiple Choice

A multifaceted process focusing on creating two-way exchanges with customers to foster intimate knowledge of their needs, wants, and buying patterns is called _____ management.

• A)customer relationship
• B)total quality
• C)human resources
• D)customer analytics
• E)buyer-behavior

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Definitions:

Fixed Expenses

Costs that do not fluctuate with the level of production or sales, such as lease payments and salaries of permanent staff.

Net Income

The profit remaining after all expenses, taxes, and costs have been subtracted from total revenue.

Variable Expenses

Costs that vary in direct proportion to changes in an organization's activity level or volume of output.

Operating Leverage

A measure of how sensitive net operating income is to a given percentage change in dollar sales.