Even If Two Competitive Firms in the Same Market Have

question 107

Essay

Even if two competitive firms in the same market have different production technologies,they will each earn long-run zero profits.Why?

Understand the key components and goals of customer relationship management (CRM) programs.

Identify strategies for enhancing customer loyalty and profitability through CRM.

Recognize the importance of personalizing the marketing mix to retain and attract customers.

Understand the concept of customer loyalty and different types of loyalty.

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Definitions:

Construct Validity

The extent to which a test or instrument measures the theoretical construct or trait it is intended to measure.

Title VII

A provision within the Civil Rights Act of 1964 designed to eliminate employment discrimination arising from a person's racial, color, religious, sexual, or ethnic identity.

Department of Homeland Security

A federal department in the United States tasked with ensuring public security, primarily from terrorism but also including border security, cybersecurity, and disaster prevention and management.

Immigration Customs

Procedures and regulatory policies that govern the entry and exit of persons and goods across national borders.