The broad focus of customer relationship management allows companies to spend time and money prospecting for new customers rather than trying to obtain maximum profits from customers they already have.

Question

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The statement is incorrect. The broad focus of customer relationship management is to build long-term relationships with existing customers by providing them with value and personalized experiences, leading to increased loyalty and repeat business. It is not about solely prospecting for new customers, but rather balancing acquisition with retention efforts. CRM strategies also aim to maximize profits from existing customers by upselling and cross-selling, among other tactics.

The Broad Focus of Customer Relationship Management Allows Companies to Spend