Final answer:
Customer relationship management processes information about changing customer needs, aiming to improve business relationships, assist in retention, and enhance sales growth.
Step-by-step explanation:
Customer relationship management (CRM) is a system that helps businesses manage and analyze customer interactions and data throughout the customer lifecycle. The goal of CRM is to improve business relationships with customers, assist in customer retention, and drive sales growth. One key aspect of CRM is its ability to process information about changing customer needs.
CRM systems are designed to compile information on customers across different channels, which could include the company's website, telephone, live chat, direct mail, marketing materials, and social media. CRM solutions track customer interactions and provide staff with detailed information on a customer's purchase history, preferences, concerns, and feedback. By using this data, businesses can tailor their outreach and sales strategies to meet the individual needs of their customers and improve the overall customer experience, often leading to increased sales and reduced operating costs. Therefore, the correct answer to the multiple-choice question is B: Customer relationship management processes information about changing customer needs.