ACCA Strategic Business Leader (SBL) Practice Exam

Disable ads (and more) with a membership for a one time $4.99 payment

Study for the ACCA SBL Exam. Utilize quizzes with multiple choice questions, hints, and explanations to enhance your learning. Prepare confidently for your exam!

Practice this question and more.

Which of the following is a goal of customer relationship management?

Increasing individual sales transactions
Maximizing customer acquisition only
Enhancing customer engagement and satisfaction
Reducing overall marketing costs

The correct answer is: Enhancing customer engagement and satisfaction

A primary goal of customer relationship management (CRM) is to enhance customer engagement and satisfaction. Successful CRM strategies focus on building strong relationships with customers over time, leading to increased loyalty and retention. By understanding customer needs, preferences, and behaviors, businesses can tailor their interactions to improve satisfaction levels, which ultimately drives repeat business and fosters long-term relationships. In contrast, while increasing individual sales transactions or reducing marketing costs may be outcomes of effective CRM practices, they do not encapsulate the overarching purpose of CRM itself. Similarly, maximizing customer acquisition is only one aspect of customer management and does not emphasize the importance of nurturing and maintaining relationships with existing customers. The focus of CRM is more holistic, centering around creating value for customers and ensuring they feel connected and valued by the brand.