What Is the Focus of CRM Programs

question 64

Multiple Choice

What is the focus of CRM programs?

• A) utilizing social media marketing
• B) monitoring Internet privacy
• C) retaining current customers
• D) gaining website sponsors
• E) prospecting for new clients

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Definitions:

Profit Maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit.

Profit Level

Refers to the degree of financial gain achieved by a business, indicating its success in generating earnings above its costs.

Perfectly Price-Discriminating

A theoretical market condition where a seller charges each buyer their maximum willingness to pay, capturing all possible consumer surplus.

Socially Optimal Level

The point of balance where the social benefits of an economic activity equal its social costs, maximizing overall welfare.