Relationship Management

The video discusses the role of marketers as the face of organizations, emphasizing the importance of relationship management. It explains CRM and BRM, contrasting them with historical sales practices that lacked focus on customer relationships. The necessity of data in modern relationship management is highlighted, along with the critical role of trust in maintaining strong business relationships.

What is the primary responsibility of marketers within an organization?

• Handling finances

• Designing products

• Managing relationships

• Creating advertisements

What does CRM stand for in the context of relationship management?

• Company Resource Management

• Customer Relationship Management

• Client Relationship Management

• Customer Resource Management

How did companies traditionally approach sales before focusing on relationship management?

• By investing in customer loyalty programs

• By making sale after sale without considering customer relationships

• By building strong customer bonds

• By focusing on customer feedback

Why is data important in relationship management?

• To track employee performance

• To understand customer buying patterns

• To design marketing campaigns

• To manage company finances

What is essential for maintaining strong business relationships?

• Frequent communication

• Trust and reliability

• Competitive pricing

• Innovative products