Posted in Marketing and Strategy Terms, Total Reads: 6088
Definition: Customer Database
Firms maintain a record of all their present and potential customers using customer database. The database stores information like personal details, buying habits, last interaction with the firm, contact information etc. Such databases help the firms to understand the customers buying pattern which is used to design products and decide on prices. The companies use the available list of potential customers to generate higher sales. Also, such database makes it possible for the firm to provide personalized service to the customers.