Customer Relationship Management (CRM) as a source of competitive advantage

Companies are now in tune with the reality that customers are so powerful that they can easily switch from one product or service to another if they become dissatisfied. Therefore, to serve customers better, companies are looking for ways to connect with them on a personal level. This explains the gradual shift away from mass marketing techniques to a more personalized and tailored approach in reaching out to current and potential customers. Customer relationships have become even more impersonal given the proliferation of the internet; hence the increasing relevance of CRM.
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