Your family owns and operates a horse farm where you board horses, provide riding lessons, and have a small retail operation where you sell saddles, horse food and other specialty products. When looking at the effectiveness of your CRM program what criteria can you use to determine if your CRM program is working?
What will be an ideal response?
The first criteria you can analyze is customer share that measures the amount of money that each customer spends on the firm's various products. Customer equity looks at the return on investment on expenditures for gaining and retaining customers. How effective your CRM program ranks and prioritizes customers based on profitability is what customer focus measures. The last criteria you can analyze is lifetime value that measures the total profit each customer generates while the person is the firm's customer.
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a. $ 1,600 b. $ 2,000 c. $ 2,200 d. $ 2,800
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A. Current liabilities B. Long-term liabilities C. Other assets D. Investments and funds
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A responsibility center in which a manager is responsible for revenues, cost, and investment is a(n)
A) cost center B) revenue center C) profit center D) investment center E) center not presented here