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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Effective telephone calls include a three-point introduction: addressing the person you are calling by name, identifying yourself and your affiliation, and ________.
a. "winging" the rest of the introduction to sound more human b. letting the other person begin discussion of the main points c. sharing e-mail addresses in case the phone call gets interrupted d. giving a brief explanation of your reason for calling
Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $224,700, cash of $51,900, and accounts receivable of $313,900. What is the amount of the current assets?
a. 46,700 b. 56,000 c. 783,400 d. 975,000 e. 699,700