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What Is Meant by Customer Relationship Management? How Does It

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Essay

What is meant by customer relationship management? How does it support the different parts of the customer life cycle?


Definitions:

Segmented Marketing

The practice of dividing a broad market into distinct subsets of consumers with common needs or characteristics and designing strategies specifically for them.

Unique Product

A product that offers a distinct set of qualities or features not possessed by similar products in the market, providing a competitive advantage.

Purchasing Product

The act of acquiring goods or services by customers in exchange for money, reflecting consumer behavior and market demand.

Benefit

An advantage, improvement, or gain that is obtained from something.

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