{"id":1937,"date":"2018-03-27T19:48:33","date_gmt":"2018-03-27T19:48:33","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/?post_type=chapter&#038;p=1937"},"modified":"2024-04-25T02:44:55","modified_gmt":"2024-04-25T02:44:55","slug":"crm","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/crm\/","title":{"raw":"CRM","rendered":"CRM"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\n<ul>\r\n \t<li>Define the purposes of a CRM system<\/li>\r\n<\/ul>\r\n<\/div>\r\nCRM\u00a0systems are powerful software systems that serve several essential functions for marketing and sales.\u00a0Retail organizations use them to:\r\n<ul>\r\n \t<li style=\"font-weight: 400;\">Capture internal data about customers and customer interactions and house these data in a central location.<\/li>\r\n \t<li style=\"font-weight: 400;\">Provide business users with access to customer data in order to inform a variety of customer touch points and interactions.<\/li>\r\n \t<li style=\"font-weight: 400;\">Conduct data analysis and\u00a0generate insights about how to better meet the needs of target segments and individual customers.<\/li>\r\n \t<li style=\"font-weight: 400;\">Deliver a marketing mix tailored to the needs and interests of these target segments and individual customers.<\/li>\r\n<\/ul>\r\nLeading providers of CRM\u00a0systems include Salesforce.com, Oracle NetSuite, and Microsoft, as well as smaller players such as Lightspeed and Springboard. \u00a0These large, many-faceted systems include several components. Databases provide information infrastructure for\u00a0storing and accessing customer information. Contact management capabilities allow organizations to track a variety of customer interactions, including how each customer or prospective customer\u00a0relationship is progressing over time.\r\n\r\nCRM packages also include sophisticated analytical tools to help marketing and sales analysts examine data and find patterns and correlations that help them better anticipate and address customer needs (with the goal of strengthening each customer relationship).\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Questions<\/h3>\r\nhttps:\/\/assess.lumenlearning.com\/practice\/6418fbb5-a47f-44c4-a2aa-9eeede5ad890\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<ul>\n<li>Define the purposes of a CRM system<\/li>\n<\/ul>\n<\/div>\n<p>CRM\u00a0systems are powerful software systems that serve several essential functions for marketing and sales.\u00a0Retail organizations use them to:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Capture internal data about customers and customer interactions and house these data in a central location.<\/li>\n<li style=\"font-weight: 400;\">Provide business users with access to customer data in order to inform a variety of customer touch points and interactions.<\/li>\n<li style=\"font-weight: 400;\">Conduct data analysis and\u00a0generate insights about how to better meet the needs of target segments and individual customers.<\/li>\n<li style=\"font-weight: 400;\">Deliver a marketing mix tailored to the needs and interests of these target segments and individual customers.<\/li>\n<\/ul>\n<p>Leading providers of CRM\u00a0systems include Salesforce.com, Oracle NetSuite, and Microsoft, as well as smaller players such as Lightspeed and Springboard. \u00a0These large, many-faceted systems include several components. Databases provide information infrastructure for\u00a0storing and accessing customer information. Contact management capabilities allow organizations to track a variety of customer interactions, including how each customer or prospective customer\u00a0relationship is progressing over time.<\/p>\n<p>CRM packages also include sophisticated analytical tools to help marketing and sales analysts examine data and find patterns and correlations that help them better anticipate and address customer needs (with the goal of strengthening each customer relationship).<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Questions<\/h3>\n<p>\t<iframe id=\"assessment_practice_6418fbb5-a47f-44c4-a2aa-9eeede5ad890\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/6418fbb5-a47f-44c4-a2aa-9eeede5ad890?iframe_resize_id=assessment_practice_id_6418fbb5-a47f-44c4-a2aa-9eeede5ad890\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-1937\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>CRM. <strong>Authored by<\/strong>: Bob Danielson. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":62559,"menu_order":13,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"CRM\",\"author\":\"Bob Danielson\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"fb81c3c0-d245-45ad-8036-2d3691081a44, eb20fafc-345c-4047-800d-ca65486c249e","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1937","chapter","type-chapter","status-publish","hentry"],"part":1910,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/users\/62559"}],"version-history":[{"count":13,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1937\/revisions"}],"predecessor-version":[{"id":6448,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1937\/revisions\/6448"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/parts\/1910"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1937\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/media?parent=1937"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapter-type?post=1937"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/contributor?post=1937"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/license?post=1937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}