Customer relationship management (CRM) is a multifaceted process,mediated by a set of information technologies,that focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs,wants,and buying patterns.In this way,CRM helps companies understand,as well as anticipate,the needs of current and potential customers.Functions that support this business purpose include sales,marketing,customer development,and compensation.Many CRM initiatives have failed because implementation was limited to software installation without alignment to a customer-centered strategy.