Which of the following is true about customer relationship management (CRM)?
A) It eliminates the need for primary research.
B) It minimizes the need for costly data mining.
C) It relies on the use of exploratory and causal research.
D) It consists of sophisticated software and analytical tools.
E) It excludes data on existing customers to focus on potential customers.

Question

Quizplus · Accepted Answer

Customer relationship management (CRM) typically consists of software and analytical tools that help companies manage interactions with customers and potential customers. These tools can include data analysis, tracking customer behavior, and managing customer information. Therefore, option D is the correct answer.

Option A is incorrect because CRM doesn't eliminate the need for primary research but rather enhances customer knowledge with primary research. Options B and E are incorrect because CRM relies heavily on data mining and considers data of existing customers along with potential customers. Option C is incorrect because CRM primarily focuses on descriptive and predictive research rather than exploratory and causal research.

Which of the Following Is True About Customer Relationship Management