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Questions and Answers
What are some aspects considered when a customer is cultivated and starts operation?
What are some aspects considered when a customer is cultivated and starts operation?
- Supply chain management, inventory control, quality assurance
- Ordering, futuristic planning, nature of products (correct)
- Advertising strategies, employee training, financial projections
- Competitor analysis, market research, pricing strategy
What are the benefits of a good CRM program for a business?
What are the benefits of a good CRM program for a business?
- Maximize shareholder value, minimize tax liabilities, improve employee satisfaction
- Expand market reach, diversify product portfolio, enhance brand visibility
- Reduce operational costs, streamline production, optimize supply chain
- Acquire customers, increase customer value, retain good customers (correct)
What does a good CRM program help a business determine about its customers?
What does a good CRM program help a business determine about its customers?
- Which customers can be retained or given a higher level of service (correct)
- Demographic trends of potential customers
- Psychographic profiles of existing customers
- Geographic distribution of target market
Study Notes
Customer Relationship Management (CRM)
- A customer is "cultivated" when a business starts to build a relationship with them, typically through various touchpoints such as marketing campaigns, sales interactions, and customer service engagements.
Benefits of a Good CRM Program
- A good CRM program helps a business to streamline and manage customer interactions and data, leading to improved customer relationships and increased revenue.
- CRM programs provide businesses with valuable insights and data analysis to inform strategic decisions and drive growth.
What CRM Helps Determine About Customers
- A good CRM program helps a business determine customer needs, preferences, and behaviors, enabling personalized and targeted marketing, sales, and customer service efforts.
- CRM programs provide businesses with a comprehensive understanding of customer interactions, including purchase history, communication history, and customer feedback.
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Description
Learn about the importance of CRM programs in acquiring, servicing, and retaining customers, as well as determining the value of customers to the company.
