Which of the following processes is key to customer relationship management (CRM)?

Market segmentation is a key process in customer relationship management (CRM) because it involves dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics. This enables organizations to tailor their marketing efforts and CRM strategies to specific segments, improving customer satisfaction and loyalty. It allows businesses to focus on the needs and preferences of distinct groups, thereby enhancing the effectiveness of marketing campaigns and customer interactions.

References:

“Customer Relationship Management: Concepts and Technologies” by Francis Buttle, Stan Maklan

“Market Segmentation: How to Do It and How to Profit from It” by Malcolm McDonald, Ian Dunbar