Course Description
This course examines the concept of customer relationship management (CRM), its evolution and implementation. The approach is analytical and managerial, and covers: understanding issues, tools, techniques and terminology; establishment, management, mining and analysis of customer databases; assessing customer valuation and establishing metrics; identifying, defining and understanding customer segments; estimating profitability; and designing targeted marketing campaigns and customer communications. Customer relationship management explores database planning, design and creation, and focuses on the role of CRM in a firm's marketing strategy, with emphasis on customer relationship building and servicing.
Course Content
- Principles of CRM:
- benefits, terms/definitions and value of CRM
- positioning CRM in the firm, developing a CRM team
- identify uses for CRM, and principal users enterprise-wide
- leadership and commitment
- Strategy and Management of a CRM function
- planning, design and application of CRM
- creating a CRM plan
- integrating with other business/marketing plans
- CRM Marketing Issues and Considerations:
- developing customer understanding and intelligence
- communicating with customers
- developing relationships and loyalty
- customer satisfaction, service functions and considerations
- Analytical aspects of CRM:
- creation and management of the database
- software considerations and acquisition
- deciding on where to locate and manage the database
- segmentation, targeting, customer profiling and scoring
- metrics – establishing, evaluating, controlling, using, reporting
- CRM functions and operations:
- call centre management
- website and emarketing
- direct marketing
- The Future of CRM
- managing the evolution of CRM marketing
Learning Activities
Customer Relationship Management will be studied through lectures, videos, case studies, workshops, guest lecturers, group and class discussions, computer applications, and industry-related projects.
Means of Assessment
| Case analysis |
20% |
| Assignments (2-4) |
40% |
| Midterm examination |
20% |
| Final examination or project |
20% |
| Total |
100% |
STUDENTS MUST COMPLETE ALL COMPONENTS OF THE COURSE TO OBTAIN CREDIT FOR THE COURSE.
Learning Outcomes
At the end of the course, the successful student should be able to:
- explain customer relationship marketing concepts, process and applications, as well as strategy and planning;
- explain how to build and manage successful CRM teams;
- explain how to blend CRM with a firm's overall business and marketing plans;
- demonstrate an understanding of how to build relationships with customers and maintain their loyalty;
- develop effective customer communications strategies and tactics;
- create campaigns to generate new customers and prospects;
- assess, plan, manage and know how to prioritize customer service
- operate a simple customer database effectively;
- integrate CRM with the myriad of marketing tools and techniques;
- explain the economics of building a customer database;
- demonstrate an understanding of issues such as privacy, ethics, customer fatigue, environmental concerns and future trends.
Textbook Materials
Textbooks and Materials to be Purchased by Students
Peelen, Ed; Customer Relationship Management, Latest Ed. Prentice Hall or equivalent