Hello,
CRM is an abbreviation of "Customer Relationship Management" which originally referred to customer contact software that was used to manage customer relationships.
Nowadays CRM encompasses a lot more; a complete business strategy that focuses on the customer. The key component of CRM is still the technology, but the term now recognizes the importance of humans too!
A good CRM system should be able to give you a clear overview of all your customers; their details, buying habits, preferences and feedback. It should be able to provide this data across your organization as well as online to field staff.
Key players in the CRM industry include; Siebel, Oracle, SAP, Microsoft and Sage.
Prices of CRM applications range from a few hundred dollars to millions of dollars for large enterprise systems.
I hope this brief introduction is helpful.
All the best,
Steve | 
