test 2 marketing - Mohamed Salem Test 2 Marketing. 1. CRM(...

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Mohamed Salem Test 2 Marketing. 1. CRM( CUSTOMER RELATIONSHIP MANAGEMENT): Programs that involve systematically tracking consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts. The four steps in customer relationship management(CRM) are: 1. Identify customers and get to know them in as much detail as possible. 2. Differentiate among these customers in terms of both their needs and their value to the company. 3. Interact with customers and find ways to improve cost efficiency and the effectiveness of the interaction. 4. Customize some aspect of the goods or services that offer to each customer. This means treating each customer differently based on what has been learned through customer interaction. CRM strategy allows a company to identify its best customer, stay on top of their needs, and increase their satisfaction. The ultimate purpose of CRM, like any organizational initiative, is to
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test 2 marketing - Mohamed Salem Test 2 Marketing. 1. CRM(...

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