Customer Relationship Management
"The main aim of Customer Relationship Management (CRM) is to reinforce customer loyalty thereby decreasing costs and increasing profits. True CRM comprises having a single, consummate view of every customer in real time. For this, it is essential to merge information pertaining to a given customer from all internal data sources of an organization and if appropriate, from external sources. This view facilitates customer-facing employees to arrive at quick, informed decisions relating to sales, marketing, and customer support, such as competitive positioning tactics, target marketing strategies, up selling opportunities, and cross-selling.