The learning objectives of the course are:
• To build the students’ knowledge of customer-centric sales, marketing, and service.
• To introduce the student to analytical tools for market segmentation, customer profitability, data mining, churn analysis, and other problems
• To develop analytical skills and introduce basic modeling techniques
• To understand the tools and effectiveness of social marketing and customer participation
• To develop practical skills by building a prototype CRM system for a non profit organization
“Customer Relationship Management” (CRM) came into vogue in the mid 1990’s and refers to the selection or identification, acquisition, growth and retention of desired customers to maximize profit. More recently, the CRM field has undergone a revision with the advent of social networks, and the participatory nature of Web 2.0. Now more than ever, CRM requires a shift in mindset from product-centric to customer-centric management and a new set of tools for understanding and predicting the behavior of current customers.
This course is divided into three sections, operational CRM, analytical CRM, and social CRM. Operational CRM focuses on management of the customer touchpoints with the organization, the traditional front office tasks of marketing, sales, and service. Analytical CRM is concerned with the back office analysis of customer behaviour, market behaviour, and predictive models. The new field of social CRM is concerned with the collaborative process of co-creation of value, and is more accurately described as harnessing the collective power of consumers – rather than managing them.
The course combines theoretical and practical aspects of CRM systems, and a key objective of the course is to provide students with hands-on experience of creating a CRM system using the latest technologies of cloud-based application factories like Salesforce.com.