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Management Development Institute, Gurgaon PGPM- ( TERM V) Customer Relationship Management

Prof Dhruv Nath Prof Neelu Bhullar 1. Introduction The objective of any business is to manage a steady flow of profitable
customers. Its competitors also seek to do the same. Most of the successful firms have developed capabilities for winning new customers through their marketing programs however retaining customers is still a challenge. Customer Relationship Management requires the businesses to shift from a short-term transaction based mode of operation in their interactions with customers to a long-term relationship mode. This requires adjustment in the way the marketing processes are managed by them. The improvements in the technology are ushering in the emerging marketing notion from the theoretical plane to an implementation possibility in marketing programs of businesses. Objectives The objective of this course is to help students understand the relevant theoretical concepts and practices of CRM derived from research and applications across businesses globally. Pedagogy The process would include a mix of discussions of pre-readings, presentations by practitioners, and a predominant use of experience based learning approach. Aim of the course: The students should be able to understand the opportunities available to marketers to harness the benefits of CRM. Apply their learning about CRM in any business context globally. Learning outcome: The course will provide students insight on: Theoretical and conceptual foundations of CRM CRM as an organizational performance enhancing mechanism Issues in Implementing CRM strategies Measuring and managing customer satisfaction, customer loyalty, customer profitability, and lifetime value The above will help students understand 1. The contextual aspects of marketing implementations 2. Designing, Implementing and evaluating CRM programs in real life.

Evaluation : Component Quizzes (Individual assignments) Assignment (Project) Mid Term Examination End term Examination

Weight age (%) 20% 20% 30% 30%

Structure : The Course has been divided into two distinct components. The first half (Pre Mid-Term) would cover the technologies available for implementing CRM systems, and would be taken by Prof Dhruv Nath.. The second half (Post Mid-Term) would cover the principles and practice of CRM, and would be taken by Prof Neelu. The current document details the course outline and references for the second half of the course.

Required Textbook:
No text book is prescribed for post mid term.

Sessions There will be 20 sessions in all. The Second half ( Post Mid-Term) will be of ten sessions.
Main Topics: Evolution of CRM: Origin, Rise and Role of CRM CRM Strategy Development Process: Aligning Business Strategy and Customer Strategy CRM as a Value Creation Process: Value the Customer receives and Value the Organization receives; Economics of customer acquisition and retention CRM as Customer experience enabler: Multi-channel integration process: Channel participation and Channel options Planning the information management process: Role of information, IT and IT management; opportunities offered by emerging technologies Measuring the effectiveness of CRM Performance: Understanding Key drivers of Shareholders value; Linking shareholder value, employee value, customer value and cost reduction Integrating the CRM initiative in organizational processes: Organizing for CRM implementation, readiness assessment and barriers to success Cultural context and its implication on CRM planning and implementation

Future of CRM

Recommended Readings:
Other references Jill Dyche., The CRM Handbook: A Business Guide to Customer Relationship Management, Addison -Wesley Information technology series. Peppers, Don and Martha Rogers., .Managing Customer Relationships, John Wiley & Sons, 2004.

Articles: 1. Christopher W.L. Hart, James L. Heskett, And W. Earl Sasser, Jr., The Profitable Art Of Service Recovery, Harvard Business Review, No. 90407, July-August 1990, 2. 3. 4. 5. 6. 7. 8. 9. Fred Reichheld, The Microeconomics of Customer Relationships, Mitsloan Management Review, Winter 2006 Vol.47 No.2, Reprint Number 47215, Smr197 Locke. Christopher, Smart customers, dumb companies, Harvard business Review, NovemberDecember 2000 J.V. Kumar, Peterson Andrew, How valuable is word of mouth, Harvard business Review, October 2007 Rigby.K. Darrel, Reichfield F, Avoid four perils of CRM, Harvard business Review, February 2002. Mcgovern. Gail, Moon. Youngme, Companies have customers who hate them, Harvard business Review, June 2007 Mittal Vikas, Sarkees. Mathew, and Murshed. Fiesal. The right way to manage unprofitable customers, Harvard business Review, April 2008 Hanssens. Dominique M, Thrope. Daniel, Finkbeiner. Carl, Marketing when customer equity matters, Harvard business Review, May 2008 Christopher Meyer and Andre Schwager, Understanding Customer Experience, Harvard Business Review, Harvard business Review, February 2007 Reprint R0702G

The detailed session plan, projects and the cases will be given in the first class