Final answer:
Customer relationship management (CRM) is a suite of applications, a database, and a set of inherent processes for managing all interactions with customers, from lead generation to customer service.
Step-by-step explanation:
The subject of the question is customer relationship management. Customer relationship management (CRM) is a suite of applications, a database, and a set of inherent processes for managing all interactions with customers, from lead generation to customer service. It is a system that helps businesses track and manage customer interactions and improve customer satisfaction.
An example of CRM software is Salesforce, which provides companies with tools for managing customer information, tracking sales leads, and delivering personalized customer service.
CRM is essential for businesses as it helps them understand their customers better, build stronger relationships, and ultimately increase sales and profitability.