CRM

Customer Relationship Marketing is an organization wide approach to learning about its customers in order to provide a better product or service. By combining the abilities to respond directly to customer concerns and to provide a highly customized experience, companies have a better opportunity of establishing and sustaining long-term customer relationships. The primary goal is to transform these relationships into greater profitability increasing repeat purchases and finding a way to retain customer in order to …

…beneficial to companies even when the economy is weak. The relationships that have been built in the past are now more important than ever before. If the company has taken care of it customers, these people will still be there even when the economy is down. So overall, practicing CRM will provide the company with more profitable group of customers that will be easier and cheaper to keep then if they did not practice CRM.