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Answer :
The ultimate goal of the CRM process is to build customer loyalty, as it entails long-term customer engagement and preference for a company's offerings. Companies like Nordstrom exemplify this focus by providing personalized services to meet specific customer needs, which may cost more initially but generate long-term value. Therefore, option (C) Customer loyalty is the correct answer
The ultimate goal of any customer relationship management (CRM) process is to build customer loyalty. While aspects like customer purchases, retention, and positive customer/employee relationships are important, they are in service of the final aim--loyalty. Customer loyalty indicates a long-term engagement where customers consistently prefer the company's products or services over competitors'. This dedication often results from a business's efforts to know its customers well and provide tailored solutions, leading to a perception of high value by the customer. Companies like Nordstrom are known for employing strategies that prioritize customer satisfaction and long-term value over immediate profits, ensuring they meet each customer's specific needs even if it requires a higher initial cost.
Organizations utilize systems that can track and differentiate the level of service needed for various customer segments. By focusing on long-term value and satisfaction, companies not only retain customers, but they also leverage positive experiences to generate more stable and predictable revenue streams. This is crucial as it helps in identifying areas of success and those requiring improvement, further refining CRM strategies to maximize customer satisfaction.
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