customer retention programs are based on what concept? group of answer choices it is important to maximize profits in the first few months of a customer relationship. customer excellence is the easiest macro strategy to follow. segmentation, targeting, and positioning analysis should not be rushed. firms must spend large amounts of money to retain customers. customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis.

Customer relationship management (CRM) is the process by which a company or other organization manages its interactions with clients typically by analyzing large amounts of data.

CRM systems collect information from a variety of communication channels such as a company's website, phone, email, marketing materials, and, more recently, social networking sites. They enable businesses to learn something about their intended audience and how to best meet their needs, resulting in customer retention and sales growth. CRM can be used with current, past, or potential customers. CRM refers to the concepts, guidelines, and rules that a company follows when communicating with its customers.

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