Question

What does CRM stand for?

1) Customer Research Management
2) Customer Relationship Management
3) Customized Research Management
4) Customer Research Metrics

Answer 1

CRM stands for Customer Relationship Management, a system used by companies to manage their interactions with customers and improve business relationships. The correct option is 2.

Step-by-step explanation:

CRM stands for Customer Relationship Management. It is a strategy for managing an organization's relationships and interactions with current and potential customers. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.

While CRM systems are traditionally used to manage business contacts, client information, and sales leads, they can also include qualitative research data and quantitative research data, which can be used to better understand customer needs and behaviors.

For example, by analyzing customer feedback collected through various channels, including telephone greetings, a business can refine its CRM strategy to improve customer satisfaction and loyalty.