Identify and Describe the Two Types of Customer Relationship Management

question 85

Essay

Identify and describe the two types of customer relationship management applications.

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Definitions:

Fair Market Value

The cost at which a financial asset is exchanged between a ready buyer and a ready seller, where neither party is obligated to proceed with the transaction and both parties are well-informed of all pertinent information.

Noncurrent Assets

Long-term resources owned by a company, which are not expected to be converted into cash or used up within one year or the operational cycle, whichever is longer.

Liabilities

Financial obligations or debts owed by a business to others, that must be paid in the future.

R&D Costs

Refers to expenditures related to the research and development of a company’s goods or services. These costs are intended to provide for future growth and innovation.