Customer relationship management refers to the formal agreements between the organisation and customers in order to achieve common objectives and build strong relationships O the electronic connections that link an organisation's computer system with that of its customers O the collection and analysis of data to understand customers' behaviour patterns and needs, and to develop strong relationships with customers the analysis of the costs of products purchased by the customer and the costs of other customer-driven activities from any part of the value chain the comparison of the costs of all activities used to support a customer group with the revenues generated by that customer group