What Is the Third Step in the CRM Process

question 28

Multiple Choice

What is the third step in the CRM process?

• A)analyzing data
• B)developing CRM programs
• C)constructing a customer database
• D)identifying the target customers
• E)implementing discounts

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Definitions:

Demand Schedule

A graphical representation that illustrates how much of an item or service consumers are ready and financially able to acquire at assorted price points.

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, leading to competition based on product quality, price, and marketing.

Demand Schedule

A table or graph showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Product Differentiation

The process by which companies distinguish their products or services from others in the market to make them more attractive to a particular target audience.