Question

Customer relationship management refers to

a. the view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
b. the cluster of benefits that an organization promises customers to satisfy their needs.
c. the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
d. the links an organization has to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
e. the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace

Answer 1

Customer relationship management refers to the process of developing favorable long-term perceptions of the organization and its offerings to attract buyers in the marketplace.

Step-by-step explanation:

Customer relationship management refers to the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so buyers will choose them in the marketplace.

CRM involves building and maintaining relationships with individual customers, employees, suppliers, and other partners for their mutual long-term benefit.

For example, a well-established grocery store with a good reputation can charge a higher price than a temporary stand at a local farmer's market due to its strong customer relationships and positive perceptions in the marketplace.