CRM Is Based on the Philosophy That Retailers Can Increase

question 27

Multiple Choice

CRM is based on the philosophy that retailers can increase their profitability by ___.

• A)providing better assortments
• B)expanding their services
• C)building relationships with their better customers
• D)extending hours of operation
• E)advertising more

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Definitions:

Direct Labor Hour

A measure of the labor directly spent on manufacturing a product, often used as a basis for allocating labor costs to products.

Direct Materials Price Variance

The difference between the actual cost of materials used in production and the expected (standard) cost.

Direct Materials

Raw materials that are consumed in the production process and can be directly traced to the end product.

Total Variable Overhead Variance

The difference between the expected and actual costs of variable overheads in a manufacturing or production process.