In Managing Customer Relationships, the Three Primary Ways Profits Can

question 116

Multiple Choice

In managing customer relationships, the three primary ways profits can be obtained are by

• A)acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
• B)enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
• C)extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
• D)eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
• E)enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.

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Definitions:

Social Exchange Perspective

A theory in social science that assumes human relationships are formed by the use of a subjective cost-benefit analysis and the comparison of alternatives.

Separation Or Divorce

The process of ending a marital relationship, involving the legal dissolution (divorce) of a marriage or a mutual decision to live apart (separation).

Surveys

Data-collection methods that systematically collect information from respondents through questionnaires or interviews.

Systematically

Systematically means proceeding or acting according to a fixed plan or system, in a thorough and efficient manner.