What is the primary focus of Customer Relationship Management (CRM)?

• Reducing operational costs
• Managing and nurturing customer relationships
• Increasing product inventory
• Decreasing employee turnover

CRM utilizes technology and processes to:

• Increase employee satisfaction
• Collect, analyze, and utilize customer data
• Decrease marketing expenses
• Simplify legal compliance

Which type of CRM focuses on automating the sales process?

• Analytical CRM
• Collaborative CRM
• Operational CRM
• Strategic CRM

What does marketing automation within CRM help businesses achieve?

• Reduce employee training time
• Streamline production processes
• Deliver personalized messages and increase conversion rates
• Cut down on research and development costs

Analytical CRM is used to:

• Automate customer service responses
• Facilitate team collaboration
• Analyze customer data for insights
• Reduce the need for customer feedback

Collaborative CRM aims to improve:

• Supplier relationships
• Information sharing among departments
• Inventory management
• Product quality control

One of the objectives of CRM is to:

• Simplify marketing and sales processes
• Increase the company's stock value
• Eliminate all customer complaints
• Reduce the variety of products offered

CRM systems help in discovering new customers by:

• Analyzing customer behavior and preferences
• Reducing the amount of customer data collected
• Ignoring past sales data
• Decreasing marketing activities

An advantage of CRM is that it:

• Eliminates the need for market research
• Allows businesses to retain more customers
• Decreases the importance of customer service
• Makes personalization unnecessary

A disadvantage of implementing a CRM system is:

• Increased customer defection rates
• The significant initial investment required
• The automation of all business processes
• Reduced need for employee training