In most simple terms, CRM is business strategy: a set of decisions that a company needs to cultivate “customer intimacy” as a disciplined, core competency. And it is one that proactively manages the customer lifecycle. CRM uses people, processes, and data, translated into “actionable knowledge” in order to manage these 4 ever-repeating stages of a business’ customer lifecycle and experience management:
1. Customer acquisition
2. Customer assimilation/nurturing & retention
3. Customer defection and purposeful release
4. Customer “win-back” 
Customer Selection, including the confirming actions: Targeting, Segmentation and Grading, is the single most important decision your company makes, and keeps making. That very “selection” helps both to define, and to refine, your CRM strategy. Simplistically, this is the basis by which we craft a market coverage model aimed to optimize both the return on your market coverage investment ( including, sales, marketing, customer service & R/D) and how it aligns with your loyalty goals.
 Cf., Customer Win-back, Jill Griffin & Michael Lowenstein, Jossey-Bass, 2001. In her book, Jill was kind enough to feature the type of customer buying behavior analysis we first proposed in the late ‘90’s while working with Vic Hunter of Hunter Business Group.