The Process Cycle for CRM May Be Broken Down into the Following

question 27

Essay

The process cycle for CRM may be broken down into the following four elements: 
(1) knowledge discovery, (2) market planning, (3) customer interaction and (4) analysis and refinement.

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Definitions:

Environmental Category

A classification of the various types of environmental impacts or considerations, such as air quality or biodiversity.

Sustainable Business Initiatives

Business actions and strategies that are designed to have a positive impact on the environment, society, and economy while also being economically viable.

Universal Standards

Refers to the globally accepted principles and practices that companies and organizations are expected to follow, such as ethical conduct, sustainability, and quality assurance.

Economic Development

The process of improving the economic well-being and quality of life for a community or country by creating and retaining jobs and supporting or growing incomes.