Technical Terms - Internet (A-Z) - CRM

What does CRM stand for?

• Customer Revenue Management

• Customer Relationship Management

• Customer Retention Management

• Customer Resource Management

What is the main goal of CRM?

• Expand market reach

• Reduce employee workload

• Improve customer service

• Increase company profits

Why is it challenging for companies to develop relationships with customers in e-commerce?

• Limited product range

• High costs

• Impersonal interface

• Lack of technology

What is the number one priority in CRM?

• Marketing campaigns

• Employee training

• Customer service

• Product development

What does CRM aim to provide to customers when they buy products online?

• 24/7 customer support

• Low prices

• Personalized experience

• Fast delivery

What does the term 'e-commerce' refer to?

• Digital advertising

• Online shopping

• Electronic communication

• Social media marketing

What is the significance of the firm handshake and sparkling smile mentioned in the text?

• They represent trust and friendliness

• They indicate high prices

• They show professionalism

• They symbolize quality products

Why do companies make customer service their top priority in CRM?

• To attract new investors

• To increase customer complaints

• To reduce costs

• To improve brand reputation

What is the role of CRM in managing businesses' relationships with customers?

• To expand market share

• To increase employee satisfaction

• To enhance product quality

• To improve customer interactions

What is the origin of the term CRM?

• Healthcare domain

• Marketing industry

• IT world

• Finance sector