Identify and briefly explain the four steps a company should take to practice CRM and develop one-to-one relationships with its customers
What will be an ideal response?
The first step in developing one-to-one relationships with customers is customer identification. A company should collect demographic and usage pattern information about its customers, as well as information about customers' needs. With this information, a company can move to the second step of customer differentiation. The company can group its customers according to shared characteristics and identify its top customers in terms of profitability. The third step is customer interaction. Through tracking customer interactions, a company can see and address trends in customer purchases and needs. The last step is customization, which involves delivering what customers actually need. Customization creates good will and loyalty, as customers see the value in their relationship with the company.
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When the Income Statement columns of the work sheet are initially totaled, they should be in balance
Indicate whether the statement is true or false
Baylaine is a company that sells affordable, low-end cell phones. Baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. In the context of customer relationship management, Baylaine most likely establishes _____ with its customers.
A. limited relationships B. partial partnerships C. full partnerships D. distinct relationships
Use the information below to determine the sales revenue, cost of goods sold and gross profit that would be reported for the company related to the March 16 sale assuming the company uses FIFO inventory valuation and a perpetual inventory system.January 1:Purchased 100 units at $10 per unit.February 5:Purchased 60 units at $12 per unit.March 16:Sold 40 units for $16 per unit.
What will be an ideal response?
"Talk to Ann. She doesn't work here anymore, but I think she is the best one to get this deal done for us," is an example of lingering apparent authority given to an agent
Indicate whether the statement is true or false