Retaining customers that generate revenues in excess of the costs of customer service,returns,promotional items,and the like are critical;and are the underlying reason for __________.
A)EDI
B)ERP
C)CRM
D)SCM

Question

Quizplus · Accepted Answer

CRM (Customer Relationship Management) focuses on building strong relationships with customers, understanding their needs and preferences, and providing excellent customer service. By retaining customers who generate more revenues than their associated costs, businesses can increase profitability and ensure long-term success. EDI (Electronic Data Interchange), ERP (Enterprise Resource Planning), and SCM (Supply Chain Management) are important business tools, but they do not directly address customer retention or relationship building.

Retaining Customers That Generate Revenues in Excess of the Costs