Question

The Bay Street Bakery has a respected following. When it moved the business to a famous resort area, it took a big risk; however, the owners were confident that its unique cookies and pastries would win customer raves. Fortunately, one of the members of the family business was convinced the bakery needed to stay in touch with its customers. While visiting the bakery, the business collected names and addresses in order to send messages about promotions and coupons to valued customers. Marketing professionals refer to this strategy as:

Answer 1

Customer Relationship Management (CRM).

Step-by-step explanation:

Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.