Question

An organization uses CRM systems to capture customer information and interactions data and to centrally store this information. It can also analyze this data and glimpse better solutions to meet the target segment and individual customers needs. What else can an organization use CRM systems for?

Answer 1

Answer:

(1) Gain Brand loyalty.

(2) Penetrate New markets

(3) Focus its marketing mix to the ineeds of customers and target markets.

Explanation:CRM(CUSTOMER RELATIONSHIP MANAGEMENT) is a concept used in Marketing to describe the steps and processes used by an organisation to enhance its relationship with its customers and meet their needs. This type of marketing helps businesses to enjoy PATRONAGE BY CUSTOMERS,BUILD BRAND LOYALTY, PENETRATE NEW MARKETS,AND FOCUS ITS MARKETING MIX TO THE NEEDS OF THE CUSTOMER AND TARGET MARKET SEGMENT etc. Customer relationship management is been applied by many business organisations especially the multinational companies to maintain a good competitive advantage and strength over others.