Explain the Process of Customer Relationship Management (CRM) in Terms

question 131

Essay

Explain the process of customer relationship management (CRM) in terms of how it affects marketing activities.

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Definitions:

Market Economy

An economic system where the forces of supply and demand determine the allocation of goods and services without much intervention by the government.

Aggregate Output

The total value of goods and services produced in an economy over a specific time period.

Personal Income

The total amount of income received by an individual from all sources, including wages, salaries, investments, and other earnings.

Income Distribution

The way in which total income is shared among individuals or groups of people in an economy.