Customer Relationship Management MKT382

SPRING 2002 CUSTOMER RELATIONSHIP MANAGEMENT (MKT 382) Course Description and Objective DR. GOLDEN No matter what industry you are in, no matter what the nature of your firm is, and no matter what your legal organizational structure is, doing business in today’s environment is increasingly complex, dynamic and competitive. This necessitates that the firm, more than ever, be attuned to Customer Relationship Management (CRM). In order to survive, you will need to be on top of the changes in the business environment around you. Customer Relationship Management provides a set of perspectives and tools for staying aware of those changes and managing your impact on the people and organizational entities that supply the revenue supporting the firm’s financial well-being. This course focuses on the broad spectrum of Customer Relationship Management and concentrates on concepts and practices related to building and maintaining customer loyalty and lost customer win-back. The ideas and practices that we will discuss can be tailored to apply to for-profit firms or not-for-profit firms, business-to-business enterprises (b2b) or business-to-consumer/end-user (b2c), as well as to the legal spectrum from sole proprietorships to corporations. The demands of today’s business world necessitate that marketing-related functions, such as CRM, permeate all areas of business functioning from engineering and operations to personal selling and advertising. Even across varied target market segments, the firm’s basic CRM must be integrated. Thus, in the context of studying CRM, this course we will take a “total firm perspective”. The over-all objective of this course is to provide you with basic perspectives and practices to stimulate your thinking about how you believe CRM should be approached. In so doing, we will develop a roadmap for practicing CRM. We will also acknowledge basic computer-based tools to assist with CRM, but this is not a course in those tools. This is not an IT course, but it is a course in which we will mention various tools that can assist with CRM and basic CRM perspectives that might lead to the use of those tools. IT tools and data mining are integral to some types of approaches to CRM. We will look at different potential approaches to CRM and their strengths and weaknesses. The structure of the course provides for a common learning component and also a flexibility of content such that students with special interests in particular areas of CRM can explore those interests more deeply. Course Philosophy Customer Relationship Management, as an acknowledged business function, is in its infancy. To a great extent our ability to practice CRM has been made possible by relatively recent technological advances. To be highly successful, CRM must draw on a wide range of business expertise from IT to Marketing to Human Resource Management and beyond. Thus, in simulating a business environment where the Customer Information Officer (CIO) will achieve better results if he or she draws on information across all parts of the firm to understand and management the customer and market environment, our educational experience will be more successful if we draw on the expertise of the entire class. This course will encourage and reward quality participation based on a thoughtful reading of the assigned materials. You may feel free to think beyond the assigned materials and share that with the class. The educational philosophy of this course is that we are all partners in our learning and everyone of us has something to learn from the others. All of us have a responsibility for the education we receive in this classroom. In addition, the course embraces both a strong conceptual framework and a strong orientation toward how concepts can be integrated into actual practice in a complex business environment. Texts and Reference Materials There are two formal textbooks for this class: ● Customer Loyalty by Jill Griffin (Jossey-Bass, 1995), and ● Customer Win-Back by Jill Griffin (Jossey-Bass, 2001). You will also be given occasional supplementary materials in class. Page Two—Customer Relationship Management Syllabus Dr. Linda L. Golden, Spring 2002 Student Deliverables An on-going and major deliverable in this course will be class preparation and participation. It will be worth 40% of your grade. It will be evaluated on the basis of: ● Regular attendance and participation (if you are not there, you cannot participate) ● Preparation and discussion of your “Distillation and Reflection” page (D&R) ● Satisfactory completion of each Application Assignment Your class participation will be evaluated on its quality, not strictly whether or not you said something. There will be a lecture-discussion format, and you are expected to have read the material prior to coming to class each day, so that you can answer questions asked of you about the material or its application. When assigned, the D&R will be a short, no more than a page, distillation and reflection upon that day’s readings. You will complete several short Application Assignments throughout the semester. Their general purpose will be to stimulate experience or thinking about topics of relevance to a particular class day. These will be short assignments, often hands-on, and will be graded on an “acceptable” or “unacceptable” basis. As with the D&R, these Application Assignments are to be handed in during or before class on the day they are due. Late deliverables will not be accepted (no exceptions). So, if you need to miss class, make sure you plan ahead and get your assignment to me on time through either e-mail, putting it in my box in the Marketing Department office, fax, or sending it to class with another student. You may also leave assignments for me prior to class with Helen Anderson who is in CBA 7.252, right behind the main Marketing Department office. If you e-mail assignments, please also copy Melissa Brown at m.brown@mail.utexas.edu. An e-mail to ehelen@mail.utexas.edu prior to 1:00p on class days will often (but not always) get to me before I go to class that day. During the semester you will develop a CRM Roadmap and Industry Application which will be 30% of your grade. You have flexibility in your topic development, but the goal is for you to crystallize your own perspectives of how CRM should be conceptualized and operationalized and to provide an industry application. You may do this in groups of up to three people with as many firms analyzed as people in the group (i.e., each person will have a separate firm). The results of this deliverable will be presented to the class at the end of the semester with the presentation comprising 10% of your grade. Early in the semester you will develop a short written CRM Situation Analysis White Paper for class discussion. The purpose of this paper is to research the state of the art or science of CRM, prepare a summary of what you found with a list of sources, and share the results with the class. Again, you have complete flexibility to develop this research along areas of specific interest to you. The written document and its presentation will count for 20% of your grade. In summary, your deliverables are: Class Preparation and Participation—40% CRM Roadmap and Industry Analysis Written Project—30% CRM Roadmap and Industry Analysis Presentation—10% CRM Situation Analysis White Paper and Discussion—20% Supplemental hand-outs will describe individual deliverables in more depth. Your final grade will be calculated as a percent of 100. The scale for letter grades will be: A=90-100%, B=89-80%, C=79-70%, D=69-60%, F=59% and below. Page Three—Customer Relationship Management Syllabus Dr. Linda L. Golden, Spring 2002 Blackboard The syllabus and all Application Assignments will be handed out in hard-copy to the class and will also be posted on the Blackboard site for this course. Both paper and electronic versions are being provided so that you will have easy access to all course information from any place you can reach the Internet. You can access Blackboard by going to http://courses.utexas.edu/. Note that there is no www in the electronic address for Blackboard. You will have to put in your UTEID and password to logon. You will then be directed to a listing of all the courses you are taking. “Click” on the CRM course with the 04511 unique number. The initial destinations in Blackboard are: Announcements, Information, Faculty Information, Documents, Assignments, Communication, External Links, and Tools. I will use the “Announcements” to keep you posted on any current events or other information of immediate relevance to the class. So, it is useful to check it periodically. The informational part of the syllabus for this class will be posed to the “Information” section. The day-to-day assignments and the Application Assignments will be posted to the “Assignments” section. The “Communications” section has an e-mail function that can facilitate communication with your classmates. If you are not already familiar with it, you should explore the site for your own knowledge, but we will be using the sections described above most frequently. It is very “user friendly”. Professor and Assistant Information Professor: Dr. Linda L. Golden Office: CBA 7.236 Office Hours: Wednesday 12:30-1:30p, immediately after class MW, and by appointment Phone and Voice Mail: 471-1126 FAX: 471-1034 (departmental) E-mail: mkllg@mail.utexas.edu Additional contact phone numbers will be provided in class during the semester. Teaching Assistant: Melissa Brown E-mail: m.brown@mail.utexas.edu Office Assistant: Helen Anderson Office: CBA 7.252 Hours: M-F 8:30-3:00 only Phone and Voice Mail: 471-1126 E-mail: ehelen@mail.utexas.edu SPRING 2002 CUSTOMER RELATIONSHIP MANAGEMENT (MKT 382) STUDENT BACKGROUND INFORMATION PLEASE ALSO PROVIDE A COPY OF YOUR RESUME DR. GOLDEN Name: Local Phone Number: Major: E-mail: Degree(s) and University: Why are you interested in taking this course? What do you want to learn? What are your near-future employment goals? What are your long-term career goals? What do you consider to be your primary functional area of expertise? I am interested in having any other information about yourself you think would be helpful for my understanding of what I need to focus on in the course to better meet your educational needs. Thank you! Linda L. Golden SPRING 2002 DAY-BY-DAY ASSIGNMENTS AND DELIVERABLES CUSTOMER RELATIONSHIP MANAGEMENT (MKT 382) DR. GOLDEN You are to have prepared the material assigned for a given day prior to coming to class. You may be called on at random in class discussion. Your ability to relate class discussion to the reading material for a given day and your preparation is a significant factor in your class participation evaluation. You cannot participate in class if you are not there and if you are not prepared. We have several additional industry guests who will be speaking with the class during the semester, but who are not listed below. The exact dates when they will be available is not yet finalized, so there may be some minor adjustments in the schedule periodically to accommodate these guest speakers’ participation. You will be notified of any changes in advance and no deliverable will be due any sooner than listed below. However, you are always welcome to turn in any assignment earlier than the due date. Separate hand-outs will describe the specifics for deliverables. Date January 14 January 16 January 21 Assignments and Deliverables Introduction to the Course Basics of Marketing Strategy Discussion of Hand-out: “Marketing in a Nutshell” Martin Luther King Day—No Class SECTION ONE: CUSTOMER LOYALTY January 23 What is Customer Relationship Management? DUE: Application Assignment #1 READ: Customer Loyalty (begin reading after completing AA#1) Customer Decision-making Processes and Influences READ: Continue reading in Customer Loyalty Hand-out: “A Complete Model of Consumer Decision-making” Seven Key Stages of Customer Loyalty READ: Customer Loyalty Chapters 1-3 Loyalty Driven Prospecting READ: Customer Loyalty Chapter 4 and Customer Winback Chapter 8 DUE: Application Assignment #2 Best Practices in Integrated Marketing and Perspectives on CRM Implementation Mr. John Ellett, CEO, nFusion First Time Buyers and Repeat Customers READ: Customer Loyalty Chapters 5 and 6 Loyal Clients and Advocates READ: Customer Loyalty Chapters 7 and 8 DUE: Distillation and Reflection Comments on Customer Loyalty Stages Industry Project and CRM Situation Analysis White Paper Focus Industry Project and CRM Situation Analysis White Paper Focus DUE: One page transparency-ready summary of your CRM Situation Analysis White Paper discussion (to be distributed to the class February 25th) January 28 January 30 February 4 February 6 February 11 February 13 February 18 February 20 Page Two Day-by-Day Schedule for Golden MKT 382, CRM Spring, 2002 February 25 February 27 CRM Situation Analysis White Paper Discussions DUE: CRM Situation Analysis White Paper CRM Situation Analysis White Paper Discussions SECTION TWO: BUILDING AND MAINTAINING A CUSTOMER LOYALTY CULTURE WITHIN THE FIRM—CUSTOMER LOYALTY ISN’T JUST FOR CUSTOMERS ANYMORE! March 4 March 6 Developing a Loyalty-driven Culture within the Firm READ: Customer Loyalty Chapter 10, Customer Winback Chapter 10 The Power of Teamwork READ: Customer Winback Chapter 9 DUE: Application Assignment #3 Happy Spring Break! SECTION THREE: WHEN CUSTOMERS GO AWAY March 18 March 20 Preventing and Dealing with Customer Inactivity READ: Customer Loyalty Chapter 9 Customer Defection READ: Customer Winback Chapters 4 and 6 DUE: Distillation and Reflection Comments on Customer Defection: Why? SECTION FOUR: THE POWER OF INFORMATION March 25 March 27 April 1 Customer Information Systems READ: Customer Winback Chapter 7 and Appendix A Know Your Customer the Market Research Way DUE: Application Assignment #4 Guest Speaker SECTION FIVE: CUSTOMER WINBACK April 3 April 8 April 10 April 15 “Loyalty Updates and On to Winback” Ms. Jill Griffin, President, The Griffin Group (and author of your texts!) Winback Metrics for Success READ: Customer Winback Chapter 1 Acquisition, Retention and Winback READ: Customer Winback Chapter 2 Winback in Action READ: Customer Winback Chapter 3 and Appendix B DUE: Distillation and Reflection Comments on Customer Winback Week of March 11 Page Three Day-by-Day Schedule for Golden MKT 382, CRM Spring, 2002 April 17 The Winback Team READ: Customer Winback Chapter 5 SECTION SIX: YOUR ROADMAPS AND ANALYSES April 22 April 24 April 29 May 1 CRM Roadmap and Industry Analysis Presentations DUE: CRM Roadmap and Industry Analysis Paper CRM Roadmap and Industry Analysis Presentations CRM Roadmap and Industry Analysis Presentations CRM Roadmap and Industry Analysis Presentations January 22, 2002