The ability of an organization to effectively identify, acquire, foster, and retain loyal profitable customers is
A) customer service.
B) effective marketing.
C) customer relationship management.
D) ethical marketing.

Question

Quizplus · Accepted Answer

Customer relationship management, or CRM, refers to the strategies and technologies that companies use to manage interactions with customers and to analyze data about customer behavior and preferences. A company that is able to effectively use CRM to identify, acquire, foster, and retain loyal customers is likely to be more successful than one that does not prioritize CRM. While customer service and effective marketing are important components of a successful business, they do not necessarily involve the same level of holistic focus on customer relationships as CRM. Ethical marketing is also important, but it is focused more on ensuring that marketing campaigns are honest, transparent, and socially responsible rather than on building and maintaining lasting customer relationships.

The Ability of an Organization to Effectively Identify, Acquire, Foster