The Bay Street Bakery has a respected following. When it moved the business to a famous resort area, it took a big risk; however, the owners were confident that its unique cookies and pastries would win customer raves. Fortunately, one of the members of the family business was convinced the bakery needed to stay in touch with its customers. While visiting the bakery, the business collected names and addresses in order to send messages about promotions and coupons to valued customers. Marketing professionals refer to this strategy as:

Question

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The strategy of collecting customer data and using it to send targeted promotions and coupons is an example of customer relationship management (CRM). This approach aims to build strong relationships with customers to increase their loyalty and repeat business. Niche marketing refers to targeting a specific, narrow segment of the market. Production management and sales management refer to internal processes for managing a business's operations and sales activities, respectively.

The Bay Street Bakery Has a Respected Following