BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

CUSTOMER RELATION MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Processing of data about customers and their relationship with the company to improve the company’s future sales and service and lower costs is called ____
A
Database marketing
B
CRM analysis
C
Customer relationship management
D
B2C
Explanation: 

Detailed explanation-1: -Customer relationship management (CRM) is the combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle. The goal is to improve customer service relationships and assist in customer retention and drive sales growth.

Detailed explanation-2: -Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.

Detailed explanation-3: -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.

Detailed explanation-4: -Database marketing is a systematic approach to the gathering, consolidation and processing of consumer data. Database marketing is also a form of direct marketing and may be called customer relationship management. Data of both customers and potential customers are collected and are maintained in a company’s database.

Detailed explanation-5: -Predictive analytics is the process of using data analytics to make predictions based on data. This process uses data along with analysis, statistics, and machine learning techniques to create a predictive model for forecasting future events.

There is 1 question to complete.