Question

What does CRM stand for and how is it handled?

A) Customer Resource Management
B) Client Relationship Management
C) Customer Retention Management
D) Corporate Relationship Management

Answer 1

CRM stands for Customer Relationship Management, which involves managing interactions with current and potential customers using a system designed to streamline processes, improve business relationships, and ultimately drive growth.

Step-by-step explanation:

CRM stands for Customer Relationship Management. It is a technology for managing all your company's relationships and interactions with current and potential customers. The goal of a CRM system is to improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.

When it comes to handling CRM, it involves several activities:

• Collecting and managing customer data
• Tracking customer interactions and purchase history
• Managing marketing campaigns
• Customer support and service management
• Automating sales force operations
• Analyzing data and customer behavior

These activities aim to enhance customer satisfaction and retention, leading to increased company revenue and profitability.