CRM is
A)applicable to both acquiring new customers and retaining old customers.
B)only applicable to customer retention and growth.
C)primarily concerned with feeding the pipeline with new customers since companies lose 40% of their customers each year.
D)the forerunner of the 4Ps.
E)both C and D

Question

Quizplus · Accepted Answer

CRM (customer relationship management) is applicable to both acquiring new customers and retaining old customers. It involves managing interactions with customers throughout the customer lifecycle, from prospecting and acquisition to retention and growth. While it is important for companies to acquire new customers, it is equally important to retain existing customers and build long-term relationships with them, which is where CRM comes in.

CRM Is