Apart from long-term company profits, the major aim of customer relationship management (CRM) is to:
a. implement concentrated targeting strategies.
b. optimize customer satisfaction.
c. reduce personalization of products according to customers' needs.
d. minimize the use of database technology.
ANSWER: b
Customer relationship management (CRM) entails tracking interactions with customers to optimize customer satisfaction and long-term company profits. Companies that successfully implement CRM tend to customize the goods and services offered to their customers based on data generated through interactions between customers and a company.
You might also like to view...
Which of the following is an external backward-looking metric for a company?
A) intent to repurchase B) customer awareness C) perceived performance D) customer satisfaction E) customer retention
The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus
A) long-term B) profit C) short-run D) product E) price