Customer Relationship Management (CRM) Is a Term for the Methodologies

question 51

Multiple Choice

Customer Relationship Management (CRM) is a term for the methodologies, technologies and _______ capabilities used by firms to manage customer relationships.

• A)Economic
• B)Political
• C)Cultural
• D)E-commerce

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Definitions:

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the good's sensitivity to price changes.

City Revenues

The income generated by a municipality from sources like taxes, fees, and grants which is used to fund public services.

Income Elasticity

A measure of how much the demand for a product changes in relation to a change in consumers' incomes.

Luxuries

Items or services that are considered non-essential but desirable, typically associated with high quality and a higher price.