Wikipedia has a very interesting article that starts like this
"Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is used to support these processes; ........................." Read More
but goes on to really look at many different perspectives on this powerful three letter term and the industry surrounding it. It is worth the reading time.
A Key Thought: "CRM" has been around for a lot longer than technology and the number of white papers, discussions, disbutes, successes and failures offers a very rich history. As you tackle diving into the world of Microsoft Dynamics CRM you might want to take a bit of time to also look at the entire CRM industry space.