Question

Which of the following refers to the functions of Customer Relationship Management?

1. Active streamlining of a business's supply activities to maximize customer value and gain a competitive advantage in the marketplace.
2. Managing and analyzing customer interactions and data throughout the customer lifecycle.
3. Choosing from a set of alternatives to achieve organizational or managerial objectives or goals.
4. Automatization of basic accounting, invoicing, financial analysis, forecasting, reporting, procurem

Answer 1

The functions of Customer Relationship Management (CRM) involve managing and analyzing customer interactions and data throughout the customer lifecycle.

Step-by-step explanation:

The functions of Customer Relationship Management (CRM) involve managing and analyzing customer interactions and data throughout the customer lifecycle. This includes gathering information from customers and other stakeholders, finding expert information, and doing a root cause analysis to identify the real problems. CRM is a crucial business strategy that helps organizations build strong relationships with their customers, improve customer retention, and gain a competitive advantage in the marketplace.

CRM is about leveraging technology and processes to manage customer relationships effectively. It's a holistic approach that goes beyond simple automation and involves understanding, analyzing, and optimizing interactions at every touchpoint in the customer journey.