CRM is perhaps the most important concept of modern marketing. Some marketers define it narrowly as a customer data management activity. By this definition, it involves managing detailed information about individual consumers and carefully managing consumer ‘touch points’ to maximise customer loyalty.
Most marketers, however, give the concept of customer relationship management a broader meaning. In this broader sense, customer relationship management (CRM) is the overall process of building and maintaining profitable consumer relationships by delivering superior customer value and satisfaction. It deals with all aspects of acquiring, keeping and growing customers.