Describe the strategic importance of Customer Relationship Management (CRM) and discuss how CRM can be used to create customer satisfaction and greater profits for the firm.

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Businesses usually want to know the secret behind attracting and retaining customers. However, the current level of competition makes it hard for these businesses to retain customers. This is based on the fact that customers are being exposed to new brands of products almost every day. However, observers believe that the only way to retain customers is through satisfying them. For an organization to become successful, it must listen to its customers. This is because of the fact that this aspect leads to customer loyalty, something that is very important to businesses. For them to achieve this, they need to conduct both online and personal reviews. Through these reviews, they will be in a position to know the needs of their customers, hence coming up with …

589 words APA