Which of the Following Statements About the CRM Cycle Is

question 121

Multiple Choice

Which of the following statements about the CRM cycle is true?

• A) The letters CRM are an acronym for consumer relationship marketing.
• B) The CRM cycle does not affect employees outside the marketing and management functional areas.
• C) The CRM cycle takes a simplistic perspective on customers.
• D) The CRM cycle is continuous and circular with no predefined start or end point.

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Definitions:

Law of Diminishing Marginal Returns

A rule of economics that asserts when a single production element is expanded and the rest stay unchanged, there will ultimately be a decline in total output after reaching a specific threshold.

Cost Curves

Graphical representations in economics that show how the costs of production vary with different levels of output.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, holding all other inputs constant.