Every day,buyers from large utility companies and sellers from energy companies visit an online exchange dealing in wholesale electricity and gas to negotiate prices for the energy that heats and lights many homes and businesses.The exchange knows there are competitors vying for its customers so it relies heavily on technology to build and retain strong,one-on-one relationships with each customer.The exchange uses _____ to know its customer and to win their allegiance.

Question

Quizplus · Accepted Answer

The exchange relies on technology to build and maintain strong, one-on-one relationships with each customer. This is done through customer relationship management (CRM) systems, which help to keep track of customer interactions and preferences, tailor marketing and sales efforts to their needs, and ultimately increase customer loyalty. A flexible marketing system and competitive intelligence may also be helpful, but they are not specifically mentioned in the context of the exchange's customer relationships. A database warehouse may also be useful, but it is not as directly focused on customer relationship management as a CRM system.

Every Day,buyers from Large Utility Companies and Sellers from Energy