Customer Relationship Management (CRM) is a comprehensive business model and process that focuses on customers to increase revenue and profits. CRM involves acquiring customer knowledge and using it at every customer touchpoint. The goals of CRM are to retain loyal customers, acquire new customers based on their characteristics, and increase individual customer profitability by offering the right products. CRM provides advantages like reducing advertising costs, improving awareness of customer needs, and allowing competition based on service rather than price.

1. Customer Relationship Management

7. The CRM Process Cycle