CRM - Customer relationship management is a multifaceted process. It is mediated by a set of information technologies, and it focuses on creating two-way exchanges with customers so that firms have a specific knowledge of their wants, needs and buying patterns. So the Customer relationship management helps companies understand (and anticipate) the needs of current and potential customers. There are many functions that support this business purpose: customer service, sales marketing, training, performance management, professional development, human resource development, and compensation. There also were many CRM initiatives that failed because implementation was limited to software installation, but without alignment to a customer-centric strategy.
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