As the Second Step in the CRM Cycle a Company

question 4

Multiple Choice

As the second step in the CRM cycle a company must:

• A) establish marketing objectives
• B) captures relevant customer data on interactions
• C) identify customer relationships with the organization
• D) understand the interactions the company has with current customers
• E) decide on a segmentation strategy

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Definitions:

Business Firms

Organizations engaged in commercial, industrial, or professional activities, aiming to generate profits from their operations.

Profitability

The financial viability characterized by the ability to generate profits over time.

Women-owned Suppliers

Businesses that are at least 51% owned, operated, and controlled by one or more women, playing a crucial role in diversifying the supply chain.

Buying Objectives

The specific goals or intentions that motivate and guide consumers' purchasing decisions, such as cost savings, quality improvement, or innovation adoption.