Final answer:
Customer relationship management (CRM) is the process aimed at building and maintaining profitable customer relationships, which involves strategies to manage customer interactions, improve relationships, retain customers, and drive sales.
Step-by-step explanation:
The overall process of building and maintaining profitable customer relationships is known as Customer relationship management (a). This process involves strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention, and driving sales growth. CRM systems compile customer data across different channels, or points of contact between the customer and the company, which could include the company's website, telephone, live chat, direct mail, marketing materials, and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences, and concerns.