BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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best-selling products.
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most talented employees.
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financial strengths and weaknesses.
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most valuable customers.
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Detailed explanation-1: -In essence, CRM helps a business to recognise the value of its customers and to capitalise on improved customer relations. The better you understand your customers, the more responsive you can be to their needs. CRM can be achieved by: finding out about your customers’ purchasing habits, opinions and preferences.
Detailed explanation-2: -CRM solutions can help keep track of contacts within a business, to allow both sales and marketing teams to personalize communication. Good CRM solutions can supplement their account and contact data through third-party data sources so that all information is complete and up to date.
Detailed explanation-3: -With the help of the right CRM system, firms can easily respond to their prospects in real-time. CRM software also helps the sales team in nurturing and building relationships with new leads and existing clients. Engaging customers in real-time helps in improving customer service.
Detailed explanation-4: -Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.