________ allows the company to discover who its target markets are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.
A) Network management
B) Supply chain management
C) Marketing management
D) Customer relationship management
E) Total quality management

Question

Quizplus · Accepted Answer

Customer relationship management (CRM) is a set of strategies, methodologies, tools, and technologies that allow companies to manage and analyze their interactions with customers and prospects throughout the customer journey, with the objective of improving customer satisfaction, loyalty, retention, and advocacy. CRM enables companies to gain insights into customer behavior, preferences, needs, and wants, and to tailor their products, services, marketing campaigns, and communication channels to meet and exceed customer expectations. By using CRM, companies can also identify and prioritize high-value customers, cross-sell and up-sell opportunities, and customer service issues, and allocate their resources and efforts accordingly. Therefore, CRM is essential for companies that want to build long-term relationships with their customers and create sustainable competitive advantages.

________ Allows the Company to Discover Who Its Target Markets