what is customer relationship management quizlet

what is customer relationship management quizlet

According to [1] and [2], Customer Relationship Management (CRM) is a business philosophy and set of strategies, programs, and systems that focuses on building and maintaining profitable, long-term customer relationships beyond the one-off buy and sell transaction. It aims to increase customer satisfaction, loyalty, and retention, while also increasing revenue and growth of customer base through referrals. In short, CRM is about identifying and building relationships with a retailer’s valued customers. As for your question about Quizlet, it is an online learning platform where users can create, share, and study various educational materials, including flashcards, quizzes, and games. However, I couldn’t find any specific information about Quizlet related to CRM.


[1] Customer Relationship Management Flashcards

[2] Ch 11: Customer Relationship Management (CRM)

[3] Customer Relationship Management Flashcards

What is customer relationship management quizlet

According to [1] and [2], owning a Customer Relationship Management (CRM) software has several benefits for businesses, including:

  1. Centralized customer data: CRM software allows businesses to store all customer information in one place, making it easier to access and manage.
  2. Increased lead conversion: With a CRM, businesses can track leads and identify which ones are most likely to convert, allowing them to focus their efforts on those leads.
  3. Improved customer retention: CRM software allows businesses to personalize their interactions with customers, leading to better customer experiences and increased loyalty.
  4. Data-driven decision making: By analyzing customer data, businesses can make informed decisions about marketing and sales strategies.
  5. Automation: CRM software automates tasks such as data entry and lead tracking, freeing up time for businesses to focus on other areas.

In addition to the above, [3] adds that owning a CRM software can also help businesses maintain a centralized database across their sales organization and manage all communication and interactions with prospects.

References: [1] 6 Key Benefits Of CRM For Your Business [2] The 5 Greatest Benefits of CRM Platforms [3] 12 Key Benefits CRM Systems Provide to a Business

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