Final answer:
Customer Relationship Management (CRM) is a business strategy that focuses on building and maintaining strong relationships with customers. It involves managing interactions and data related to customers, with the goal of improving customer satisfaction and loyalty.
Step-by-step explanation:
Customer Relationship Management (CRM) is a business strategy that focuses on building and maintaining strong relationships with customers. It involves managing interactions and data related to customers, with the goal of improving customer satisfaction and loyalty.
CRM systems use technology to collect and analyze customer information, such as purchase history, preferences, and feedback. This helps businesses understand their customers better and tailor their products and services to meet their needs.
For example, a CRM system can help a company track customer inquiries, manage sales leads, and automate marketing campaigns. By centralizing customer data, businesses can provide more personalized interactions, resolve issues more efficiently, and identify opportunities for cross-selling or upselling.