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What does 'customer relationship management' (CRM) aim to achieve?

Practice Questions

Q1
What does 'customer relationship management' (CRM) aim to achieve?
  1. To increase product prices
  2. To manage customer interactions and data
  3. To reduce marketing costs
  4. To standardize customer service

Questions & Step-by-Step Solutions

What does 'customer relationship management' (CRM) aim to achieve?
  • Step 1: Understand that CRM stands for Customer Relationship Management.
  • Step 2: Know that CRM is a system used by businesses.
  • Step 3: Recognize that the main goal of CRM is to manage interactions with customers.
  • Step 4: Learn that CRM helps businesses collect and organize customer data.
  • Step 5: Realize that by using this data, businesses can improve their relationships with customers.
  • Step 6: Remember that better relationships can lead to more sales and customer loyalty.
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