A _______ is the set of tools and processes a firm uses to identify,attract,and retain customers and to leverage its relationships with customers.
A)customer relationship management (CRM)system
B)customer database
C)market database
D)prospecting plan

Question

Quizplus · Accepted Answer

A customer relationship management (CRM) system is a comprehensive set of tools and processes that a firm uses to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving customer retention and driving sales growth. It includes strategies and technologies for identifying, targeting, and engaging with customers, as well as for analyzing customer data to gain insights that can inform marketing and sales efforts. A customer database and market database are both components of a CRM system, but they are not the full system itself. A prospecting plan is a specific strategy for identifying and reaching out to potential customers, and is not synonymous with a CRM system.

A _______ Is the Set of Tools and Processes a Firm