Which of the following statements apply to CRM?

A leading supermarket chain is undertaking environmental scanning as it is concerned that it is becoming uncompetitive and profits have started to fall. The Board is concerned that when the next Annual General Meeting is held, it will need to have a viable strategy to present to its shareholders, in order to prevent shareholders’ protests.

In the past the company has been reluctant to offer an Internet shopping

service. However, it now believes that by offering this service and also introducing customer relationship marketing (CRM) this will produce a strategy that will help it to improve its competitiveness.

Which of the following statements apply to CRM? Select ALL that apply.
A . CRM utilises marketing resources to retain, rather than simply attract new customers.
B . The company must be prepared to take customers’ needs into account and be able to meet these needs.
C . In mature markets, existing customers provide the most likely source of future earnings.
D . CRM is about marketing to customers to obtain their loyalty, so customer research is not needed.
E . The CRM process needs to include increasing the range of products that will be offered to customers.

Answer: A,B,C