Question

Explain how do customer relationship management systems help firms achieve customer intimacy by using five potential touch points for a local retailer and explain what a touch is. Finally relate to describe cross-selling for the same retailer and why it is vital to a business.

Answer 1

CRM management systems help in drill down approach and generating insights about customer preferences and enhanced customer service with better sales and marketing through customer segmentation.

This helps achieve customer intimacy at various touch points like website, social media, billboard, retail stores, mobile apps, etc through which customers get attracted and indulge in purchasing behaviour.

Cross selling helps retailers diversify their assets, increase in customer lifetime value, more customers satisfaction, increases sales for non selling products and helps in capacity utilisation and risk mitigation.

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