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 e-marketing
- direct marketing
- The Future of CRM
- managing the evolution of CRM marketing
Methods Of Instruction
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
| Cases and/or assignnments (2-4) |
40% - 60% |
| Midterm examination and tests |
20% - 40% |
| Final examination or project |
20% - 30% |
| 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:
Relationship Marketing, by Mark Godson, Oxford University Press latest edition or equivalent AND
CRM in Real Time by Barton Goldenberg latest edition or equivalent as approved by department.