Explore the link between market segmentation and customer relationship management (CRM)?

Question

Quizplus · Accepted Answer

The Answer is Segmentation is part of a wider process of understanding the wants and needs of customers. Analyzing customers to identify a market segment is useful but it is more useful to look at ways to maintain a relationship with those customers and continually adjust and modify the market segmentation variables according to their needs and wants. CRM is a term used to describe this process of managing relationships, allowing companies to continually improve their profiles of purchasing behaviours and regularly communicating with selected customers.

Explore the Link Between Market Segmentation and Customer Relationship Management