Identify five benefits of customer relationship management systems
What will be an ideal response?
Benefits include: better customer service, make call centers more efficient, cross-sell products more effectively, help sales staff close deals faster, simplify marketing and sales processes, acquire new profitable customers, sell additional products and services, provide customer information for developing new products, increase product utilization, reduce sales and marketing costs, identify and retain profitable customers, optimize service delivery costs, retain high-lifetime value customers, improve customer loyalty, improve response rates to direct mail, increase product profitability, respond quickly to market opportunities.
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Which one of the following is an advantage of LIFO?
A) In periods of rising prices, less income tax is paid. B) In periods of rising prices, more holding gains are reported in net income. C) Record keeping and financial statement preparation are easier. D) Conservative income statements and balance sheet disclosures result from falling prices.
Which of the following responsibility centers can be evaluated using residual income?
a. cost center b. profit center c. revenue center d. investment center
If sales revenue stays the same but the contribution margin ratio decreases, then:
A) net operating income will increase. B) fixed costs will decrease. C) net operating income will decrease. D) fixed costs will increase.
Estelle, who owns and operates a commercial dairy farm, obtains a policy from Farm & Ranch Insurance Company, which agrees to pay $500,000 to Gabe, Estelle's son and beneficiary, on her death. This is
a. disability insurance. b. health insurance. c. liability insurance. d. life insurance.