This document discusses customer relationship management (CRM). It defines CRM as a business strategy to understand, anticipate, and respond to customer needs to grow relationship value. There are five types of CRM discussed: analytical, collaborative, operational, geographic, and sales intelligence. The purpose of CRM is to create value for customers and the company over the long term. CRM enables competitive advantage over competitors providing similar products/services. Information technology plays a pivotal role in CRM by using databases and data mining to increase customer value and profitability. Benefits of CRM include reduced costs, increased customer satisfaction, ensuring external focus, growth in customer numbers, and long term profitability.