Can customer relationship management (CRM) systems and revenue management systems (RMS) recommend not selling a particular product to certain customers? If so, why; if not, why not?
What will be an ideal response?
Yes, CRM and RMS can recommend ignoring certain customers or not selling a bundle of products to a particular set of customers. Part of this effort involves identifying lifelong customer profitability. These approaches rely heavily on forecasting techniques, which are typically described as predictive analytics. These systems attempt to predict who their best (i.e., most profitable) customers (and worst ones as well) are and focus on identifying products and services–or none at all–at appropriate prices to appeal to them.
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________ research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings
A) Experimental B) Behavioral C) Observational D) Focus group E) Descriptive
When fixed costs are $18,000 and the contribution margin per unit is $4, the breakeven point is
a. 4,500 units. b. 2,230 units. c. $22,300. d. $72,000.
________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments
A) Targeted marketing B) Market segmentation C) Product positioning D) Value proposition E) Niche marketing
Joel is displeased with his son's lifestyle choices and, instead of dividing his estate, Joel wants to leave all of his property to his daughter, Marie, when he dies. Joel may A) not leave everything to his daughter and nothing to his son. If Joel tries to do this, his son can take a forced share of his father's estate
B) disinherit his son, but he must indicate in the will his reason for doing so. C) disinherit his son for any reason as long as Joel indicates in the will that the son was omitted on purpose. D) disinherit his son only if Joel leaves the son a nominal amount, such as $1.