Companies Use the Term Customer Relationship Management (CRM) to Describe

question 6

Multiple Choice

Companies use the term customer relationship management (CRM) to describe

• A) a strategy that integrates people and technology in all business functions to enhance relationships with customers.
• B) a strategy that integrates people and technology in all business functions to enhance relationships with customers and partners.
• C) a strategy that integrates people and technology in all business functions to enhance relationships with customers, partners, and distributors.
• D) a strategy that integrates people and technology in a few business functions to enhance relationships with customers, partners, and distributors.
• E) a strategy that integrates people and technology in a few business functions to enhance relationships with customers and partners.

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Definitions:

Competitive Buyer

A buyer in a market who has no influence on the market price and must accept the market price as given.

Marginal Expenditure Curve

Curve describing the additional cost of purchasing one additional unit of a good.

Factor of Production

An economic resource that is used to produce goods and services, including land, labor, capital, and entrepreneurship.

Average Expenditure Curve

Supply curve representing the price per unit that a firm pays for a good.