Which of the following is true of customer relationship management (CRM)
A) A typical CRM system includes market segmentation and analysis.
B) It helps firms gain competitive advantage by making counterfeit knock-offs of genuine products.
C) It encourages the production of standardized goods for all customers to reduce manufacturing costs.
D) A CRM system prohibits firms from bundling goods and services together.

Question

Quizplus · Accepted Answer

Customer relationship management (CRM) involves using data analysis to understand customers' needs and behaviors. A typical CRM system includes market segmentation and analysis as an essential component to understand the needs of various customer groups better. This helps organizations to tailor their products and services to meet the unique needs of different customers, improving customer satisfaction and loyalty. B, C, and D are incorrect because they are not relevant to CRM.

Which of the Following Is True of Customer Relationship Management