Broadly speaking, customer relationship management $($CRM$)$ allows marketers to do which of the following?

Identify customers who are the most resistant to purchasing and focus product modifications on feedback from those customers

Analyze customers$$ buying habits to predict future purchases

Identify several large groups of consumers to which they can send one broad message

Collect information about customers and create marketing promotions and communications specific to groups of consumers

Assessment question

What is the first step of relationship marketing?

Use technology to reach customers and strengthen relationships

Provide excellent customer service after the customer purchases a product

Develop loyalty programs to encourage repeat purchases

Determine what customer needs and wants are and develop products to fit those needs

Assessment question

Which of the following occurs when marketers focus on customers with higher customer lifetime value $($CLV$)?$

They do a better job of understanding customer needs and wants.

They develop deeper relationships with customers and stave off competition.

They neglect other customers who may be valuable to the organization.

They earn higher profits in future periods than when they focus on customers for other reasons.