BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -CRM stands for Customer Relationship Management. It’s a company-wide business strategy designed to improve revenues and profitability, reduce costs and increase customer loyalty.

Detailed explanation-2: -According to Gartner definition, CRM is a business strategy designed to optimize profitability, revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer-cen-tric behaviors and implementing customer-centric processes [23].

Detailed explanation-3: -Customer relationship management (CRM) is a business strategy that optimizes revenue and profitability while promoting customer satisfaction and loyalty. CRM technologies enable strategy, and identify and manage customer relationships, in person or virtually.

Detailed explanation-4: -CRM helps streamline the entire sales cycle, which results in closing deals in your sales pipeline and helping everyone in the team to reach targets faster. Since order processing and preparing quotes is automated in CRM, sales teams are able to reduce production costs and increase sales revenue.

Detailed explanation-5: -A CRM strategy is a company-wide plan for your business to grow revenues and profit, reduce costs and enhance customer relationships (putting them first). Many choose to do this with the help of CRM technology in addition to other marketing strategies and customer support models.