Question

As the manager of a leading bank, Ashley regularly collates information about the bank's clients from the "customer preference" page of the bank's website. This enables the bank to make more client-oriented decisions, leading to longer-lasting affiliations with clients. Ashley's actions are an example of _____.

Answer 1

Answer:    Customer Relationship Management (CRM)

Explanation:  It is a system that operates simply on the principle of constant, active participation in a management relationship and interaction between the company, in this case bank, and both, existing and potential clients. In particular, it uses an existing, legal database from which to find information about the history between the company and customers, in other words, all interests, aspirations, i.e customer preferences, on the basis of which it can improve the relationship with customers, improving their own scope and bundle packages according to customer preferences. This achieves retention of existing customers while the company policy aligns and seeks to meet customer needs, focus on the customer, as well as improving the offer that can attract new customers, resulting in higher sales by the company i.e bank.