Questions and Answers
Which of the following best describes customer relationship management (CRM)?
A model for managing a company's interactions with current and future customers
What is the purpose of CRM?
To help a business keep customers
Which of the following is NOT a component of CRM?
Inventory management
What does CRM aim to do?
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How does CRM help a business?
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Study Notes
Customer Relationship Management (CRM)
- CRM is a business strategy that enables companies to manage and analyze customer interactions and data throughout the customer lifecycle.
Purpose of CRM
- The primary purpose of CRM is to improve customer relationships, enhance customer satisfaction, and drive business growth.
Components of CRM
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CRM typically consists of three main components: sales force automation, marketing automation, and customer service and support.
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It does NOT include accounting and financial management.
Goals of CRM
- CRM aims to provide a unified customer view, enhance customer experiences, and drive business growth through increased sales and revenue.
Benefits of CRM
- CRM helps businesses by providing a centralized customer database, automating sales and marketing processes, and enabling data-driven decision-making.
- It also helps businesses to identify new business opportunities, improve customer retention, and enhance customer loyalty.
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Description
Test your knowledge on CRM and learn about customer relationship management, a model for managing a company's interactions with customers. Explore the use of technology in organizing, automating, and synchronizing sales, marketing, customer service, and technical support.
