Which statement about Customer Relationship Management is FALSE?

The statement regarding CRM implementation being minimal in the hospitality industry is false. In reality, the hospitality industry places a significant emphasis on Customer Relationship Management due to the industry's focus on service quality and customer loyalty.

CRM systems are integral in hospitality because they help businesses manage customer interactions, understand customer preferences, and foster long-term relationships. Hotels, restaurants, and other service-oriented businesses use CRM to personalize services, enhance customer satisfaction, and optimize marketing efforts. By leveraging data, hospitality brands can create tailored experiences that encourage repeat business and foster loyalty.

In contrast, the other statements accurately reflect the nature of CRM. It indeed combines various aspects such as marketing strategies, business processes, and information technology to create a holistic approach to managing customer relationships. The main objective of CRM is indeed to develop lasting relationships with customers, focusing on customer satisfaction and retention. Additionally, a critical element of CRM is to create incentives for customers to remain loyal, which can involve making switching costs high by providing value-added services or benefits to retain patrons.