A key to successful customer relationship management (CRM) is to:
A) develop marketing strategies that are universal.
B) collect, manage, and apply the right data at the right time for the right person.
C) help customers identify new needseven if they are met by other firms.
D) focus most marketing resources on the pricing and distribution functions of the marketing mix.

Question

A key to successful customer relationship management (CRM) is to:
A) develop marketing strategies that are universal.
B) collect, manage, and apply the right data at the right time for the right person.
C) help customers identify new needs­even if they are met by other firms.
D) focus most marketing resources on the pricing and distribution functions of the marketing mix.

Quizplus · Accepted Answer

Collecting, managing, and applying the right data at the right time for the right person is crucial for effective CRM. This allows for personalized and targeted marketing strategies, which can improve customer satisfaction and loyalty. Developing universal marketing strategies (A) may not effectively address the unique needs and preferences of individual customers. Helping customers identify new needs (C) is important, but it is not the primary goal of CRM. Focusing most marketing resources on pricing and distribution (D) may neglect other important aspects of marketing, such as product development and promotion.

A Key to Successful Customer Relationship Management (CRM) Is To