Webopedia Term of The Day: What is CRM?

“Short for customer relationship management. CRM entails all
aspects of interaction a company has with its customer, whether it
be sales or service related. Computerization has changed the way
companies are approaching their CRM strategies because it has also
changed consumer buying behavior. With each new advance in
technology, especially the proliferation of self-service channels
like the Web and WAP phones, more of the relationship is being
managed electronically. Organizations are therefore looking for
ways to personalize online experiences (a process also referred to
as mass customization) through tools such as help-desk software,
e-mail organizers and Web development apps.”

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