CRM (Customer Relationship Management)

Posted in Marketing and Strategy Terms, Total Reads: 2068

Definition: CRM (Customer Relationship Management)

It is a model which puts the customer at the centre of the information flow which helps to maximize profitable relationships. It uses information technology to share the customer related information across departments and analyse the information to increase the value addition to the customers.

CRM organises, synchronizes and automates the business process of marketing, sales and customer service.  Here all the customers are not treated as equals; rather preference is given to the valuable customers such that he feels more valuable. It helps in reducing marketing and sales expenses; and improves efficiency of sales, marketing and customer service.



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