The Lee Kong Chian School of Business Academic Year 2014 /15 Term 2

Transcription

1 The Lee Kong Chian School of Business Academic Year 2014 /15 Term 2 MKTG225 CUSTOMER RELATIONSHIP MANAGEMENT Instructor Name : Dr Raymond Teo Title : Adjunct Faculty of Marketing raymondteo@smu.edu.sg Office : LKCSB Level 5 Adjunct Office 1 COURSE DESCRIPTION Customer relationship (CRM) is an important development within the field of marketing. This course is designed to provide students with a good understanding of the concept of CRM. To be successfully implemented, CRM should be viewed holistically. Companies that have not done so had contributed to the high CRM failure rate we see today. The aim of the course is to present a holistic view of CRM, covering its various perspectives including strategic, operational, analytical and collaborative. LEARNING OBJECTIVES By the end of this course, students will be able to: Explain the need to be customer centric Discuss the key CRM concepts e.g. value creation, customer value in various business environments Apply effectively the tools for building customer relationship in various contexts Make better CRM decisions with the support of basic and advanced analytical tools e.g. customer lifetime estimation, customer referral value estimation, data mining Discuss the need for good supplier and partner relationships within the scope of CRM Defend the need for good organisational considerations in support of CRM implementation PRE-REQUISITE/ CO-REQUISITE/ MUTUALLY EXCLUSIVE COURSE(S) Please refer to the Course Catalogue on OASIS for the most updated list of pre-requisites / co-requisites for this particular course. Do note that if this course has a co-requisite, it means that the course has to be taken together with another course. Dropping one course during BOSS bidding would result in both courses being dropped at the same time. ASSESSMENT METHODS There are three assessment components for this module and they include: Class Participation 10% (individual) Midterm Assessment 15% (individual) Group CRM Project 25% (group) Team Contribution to Project (Peer evaluation) 10% (individual) Final Quiz 40% (individual) ACADEMIC INTEGRITY All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences. All work (whether oral or written) submitted for purposes of assessment must be the student s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offence. 1

2 When in doubt, students should consult the course instructor. Details on the SMU Code of Academic Integrity may be accessed at INSTRUCTIONAL METHODS AND EXPECTATIONS Class Participation Participation is a central part of the learning process in this course. Through active discussion, students will be able to benefit most from the thoughts and experience of the instructor. Students should also bear in mind that there is a participation weightage in this course. This participation component is made up of attendance and active discussion in class. Groupings for Project Students are expected to form groups of between 4 to 6 for their CRM project work. You should find your own group members and send the names to my TA. Should you have difficulties forming the groups, do let my TA know and she will assist. Group Project and Presentation You will be working on a CRM project in your groups. You will be implementing CRM holistically as a CRM consultant, addressing all the issues that the given company should focus on. You will be required to make a presentation and submit a report at the end of the course. Assessments There will be a mid-term assessment and a cumulative final quiz. Both are closed-book. This issues you will be examined range from the text-book, notes, article readings, video lessons and issues discussed in class. CONSULTATIONS AND TEACHING ASSISTANTS There will be some consultation time built-in to the weekly schedule in the second half of the term. However, should additional consultation time be required, I would be available for an hour following the end of the class. You will however need to inform me if you need to meet me. CLASS TIMINGS Classes are once per week, each lasting 3 hours. RECOMMENDED TEXT AND READINGS 1. Francis Buttle, Customer Relationship Management: Concepts and Technologies, 2 nd Edition, Elsevier Ltd, USA 2. Selected articles mentioned in this course guide 2

3 WEEKLY LESSON PLANS Session No. 1 Specific Learning Objectives for the Lesson Course Description & Expectations Describe the various types of CRM Use of a CRM framework Recognise how relationships change over time Explain the concept of trust in the context of relationship building Concepts / Topics Covered Required Reading Introduction to CRM and understanding relationships Main Text Chaps 1 & 2 Article: Companies and customers who hate the them Article: The Incumbent s Advantage Assessment of Learning (Formative / Summative) quiz Instructional Strategies Introduction to course (30 minutes) Recognise the need for organisations to implement CRM 2 Compare the various dimensions of customer loyalty Describe the process of CRM implementation Apply the CRM process effectively Recognise the role of analytics in CRM Apply CRM analytics in both B2C and B2B contexts Planning and implementation of CRM CRM Analytics and knowledge Main Text Chaps 3 & 13 (only section on CRM analytics) Article: Competing on Analytics 3

4 3 Describe the key disciplines of customer portfolio Constructing customer portfolios in both B2B and B2C contexts Customer portfolio Main Text Chap 5 4 Estimating customer lifetime values Defending the need to differentiate on customer experience Recognise the characteristics of great service leaders Recognise the components to be addressed to produce good customer experience Customer experience Article: Competing on Customer Experience Apply the process of service mapping to improve customer experience Solving experience issues with customer modelling 4

5 5 6 Recognise the need for value enhancement in CRM Appraise and improve value propositions using various tools Recognise the need for employee-related issues to be addressed for successful CRM implementation Apply employee motivation techniques for embracing CRM practices Apply an operational CRM framework Creating value for customers Main Text Chap 7 Employee relationship Main Text Chap 12 Articles: Employee Motivation: A Powerful Change Model and Decoding Resistance to Change Final 7 Mid Term Assessment 8 RECESS 5

6 9 Describe the customer life cycle Recognise various customer types Applying a customer conversion model Solve customer problems with customer analytics Managing customer lifecycle: Customer acquisition Customer analytics Main Text Chap 8 Articles: VW Price Sensitivity Meter Final assessment Demonstration 10 Describe the customer life cycle Compare the various measures of customer retention Explain the benefits of customer retention Managing customer lifecycle: Customer retention and development Main Text Chap 9 Final assessment Compare the various alternatives of customer retention Judge the need for CRM implementation 11 Explain the benefits of a business network Describing the constituencies in a network Illustrate partners in value creation Managing networks for customer relationship Partner relationship Final Judging if internal Main Text Chap 10 & 11 6

7 collaboration is good for a company Recognise the various types of external collaboration and explain when they are appropriate Articles: When internal collaboration is bad for your company, and What kind of collaboration is good for you. 12 Group CRM project presentation 13 CRM Final Quiz 7