UGC NET Exam > UGC NET Questions > _______is the process of making and keeping c...
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_______is the process of making and keeping customers and maximizing their profitability, behaviors and satisfaction.
- a)Supply Chain Management
- b)Total Quality Management
- c)Customer Relationship Management
- d)Partner Relationship Management
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
_______is the process of making and keeping customers and maximizing t...
Customer Relationship Management is the process of making and keeping customers while maximizing their profitability, behaviors, and satisfaction. It involves managing and nurturing relationships with customers throughout their entire lifecycle, from acquisition to retention and loyalty.
CRM focuses on understanding customers' needs, preferences, and behaviors to develop targeted strategies and initiatives. It encompasses various activities such as gathering customer data, analyzing customer insights, implementing personalized marketing campaigns, providing exceptional customer service, and maintaining ongoing communication with customers.
By effectively implementing CRM practices, organizations can enhance customer satisfaction, increase customer loyalty and retention, and ultimately maximize customer profitability. CRM systems and strategies enable businesses to build strong relationships with customers, tailor their offerings to meet customer needs, and provide a superior customer experience.
Supply Chain Management (Option a) refers to the coordination and management of all activities involved in the production, procurement, and distribution of goods and services. While supply chain management is important for overall business operations and efficiency, it is not directly focused on customer relationship management.
Total Quality Management (Option b) is an approach that focuses on continuously improving the quality of products, services, and processes within an organization. While customer satisfaction is a key aspect of Total Quality Management, it does not encompass the full scope of customer relationship management.
Partner Relationship Management (Option d) involves managing and nurturing relationships with business partners, suppliers, distributors, and other external partners. While partner relationships are important, they are not the sole focus of maximizing customer profitability and satisfaction as in customer relationship management.
Therefore, option c, Customer Relationship Management, is the most appropriate choice when it comes to the process of making and keeping customers while maximizing their profitability, behaviors, and satisfaction.
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_______is the process of making and keeping customers and maximizing t...
Customer Relationship Management is the process of making and keeping customers while maximizing their profitability, behaviors, and satisfaction. It involves managing and nurturing relationships with customers throughout their entire lifecycle, from acquisition to retention and loyalty.
CRM focuses on understanding customers' needs, preferences, and behaviors to develop targeted strategies and initiatives. It encompasses various activities such as gathering customer data, analyzing customer insights, implementing personalized marketing campaigns, providing exceptional customer service, and maintaining ongoing communication with customers.
By effectively implementing CRM practices, organizations can enhance customer satisfaction, increase customer loyalty and retention, and ultimately maximize customer profitability. CRM systems and strategies enable businesses to build strong relationships with customers, tailor their offerings to meet customer needs, and provide a superior customer experience.
Supply Chain Management (Option a) refers to the coordination and management of all activities involved in the production, procurement, and distribution of goods and services. While supply chain management is important for overall business operations and efficiency, it is not directly focused on customer relationship management.
Total Quality Management (Option b) is an approach that focuses on continuously improving the quality of products, services, and processes within an organization. While customer satisfaction is a key aspect of Total Quality Management, it does not encompass the full scope of customer relationship management.
Partner Relationship Management (Option d) involves managing and nurturing relationships with business partners, suppliers, distributors, and other external partners. While partner relationships are important, they are not the sole focus of maximizing customer profitability and satisfaction as in customer relationship management.
Therefore, option c, Customer Relationship Management, is the most appropriate choice when it comes to the process of making and keeping customers while maximizing their profitability, behaviors, and satisfaction.
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_______is the process of making and keeping customers and maximizing their profitability, behaviors and satisfaction.a)Supply Chain Managementb)Total Quality Managementc)Customer Relationship Managementd)Partner Relationship ManagementCorrect answer is option 'C'. Can you explain this answer?
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