This document discusses customer relationship management (CRM). It begins by outlining the purpose and history of CRM, including defining key terms. It then discusses the underlying theory of CRM, including retaining existing customers being more cost effective. Potential benefits and costs of CRM are identified. The document also outlines elements, applications, types of customers, and steps to improve CRM. It concludes by discussing advantages of CRM, such as increased customer satisfaction, and potential disadvantages like significant investment required.