MKT 182 - Customer Relationship Mgmt

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: Voc/Tech

Customer Relationship Management is a systematic marketing process used customer and client-driven organizations around the world. Using CRM software, companies can effectively track buying activity and target customers more effectively with sales, service and marketing efforts. This course includes an overview of CRM concepts and case studies of companies with successful CRM programs.
Competencies

Evaluate Customer Relationship Management (CRM)
1. Recognize how CRM evolved from customer loyalty objectives
2. Understand how technology contributes to a CRM system
3. Identify reasons why customer relationship management is a primary topic in business
4. Review the history and development of CRM
5. Describe industries where CRM is used.
6. Explore the relationship between CRM, profit, revenue and expenses
Outline the customer relationship management process
1. Summarize database management
2. Explain customer data collection
3. Analyze data and creation of reports
4. Review development of CRM programs
5. Assess implementation of CRM programs
Analyze the infrastructure of CRM
1. Recognize the types of CRM software programs and their capabilities
2. Understand the process of data mining
3. Critique security and privacy issues slowing CRM growth and acceptance
4. Summarize information gathered and stored in a data warehouse
Evaluate lifetime customer value
1. Describe calculation using RFM (Recency, Frequency and Monetary Value) analysis
2. Understand the 80-20 rule and the CRM pyramid
3. Differentiate customer tiers and their value in segmentation and marketing
Outline marketing programs targeted at high value customers
1. Understand customer loyalty programs
2. Analyze specific programs companies use
3. Differentiate between CRM use in sales, service and other forms of marketing promotion
Evaluate the roles and responsibilities for each functional department involved in CRM
1. Identify the traditional roles and responsibilities in various function departments
2. Explain the changes in responsibilities in various roles in a CRM system
Examine companies that effectively use CRM for improved profitability
1. Explore cases in which companies developed and implemented CRM programs
2. Analyze company decisions in establishing and managing CRM programs
Create CRM Project
1. Critique a company with a successful CRM program
2. Complete written and/or oral presentation of findings on CRM success factors