A Local Bank Is Contemplating Adding a New ATM to Their

question 7

Multiple Choice

A local bank is contemplating adding a new ATM to their lobby. They will need another phone line to provide communications that has a monthly cost of $50 per month. This is an example of:

• A)incremental cash flow.
• B)sunk cost.
• C)complementary costs.
• D)none of these.

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Definitions:

Customer Needs

Customer needs refer to the essential requirements and desires of customers that motivate their purchase decisions and loyalty to a product or service.

Continuous Improvement

A continuous process aimed at enhancing products, services, or processes through gradual improvements progressively.

Internal Customers

Employees or departments within an organization that rely on the support or services of each other to accomplish their tasks.

CRM Program

Customer Relationship Management program; a system for managing a company's interactions with current and potential customers, often leveraging data analysis about customers' history with a company to improve business relationships.