Customer Relationship Management

Overview

Every business aims to win loyal customers. But it is widely known that even the most successful firms with excellent marketing programs face serious difficulties when it comes to customer retention. This underscores the importance of Customer Relationship Management (CRM) to any organisation.

CRM deals with helping businesses in successfully implementing strategies, practices, and technologies that are aimed at winning and retaining customers profitably. A well-functioning CRM system is bound to reap guaranteed benefits to any given organisation.

This IIMBx MOOC Customer Relationship Management is designed to equip learners with a sound foundational knowledge of CRM concepts and best practices so that they can implement CRM practices successfully for long-term profitability.

In this course, you will learn how to shift from a short-term ‘customer transaction-based mode’ of operation to a long-term ‘relationship mode’ and understand the benefits of having strong customer relations.

Topics covered by the MOOC include:

  • Customer retention
  • Customer centricity
  • Customer lifetime value
  • Customer value management

Prof. Shainesh G

Course Instructor
Marketing
Indian Institute of Management Bangalore (IIMB)

Full Profile
Course Details

6 weeks

3 - 4 hrs per week

Course Syllabus

Week 1 - Introduction to CRM

 

  • What is CRM?
  • Criticality of Customer Relationships
  • Benefits of Customer Relationships
  • Why Should Businesses adopt CRM?
  • What is Corporate Advantage?
  • Expert Insights
Week 2 - Building Customer Relationships

 

  • IDIC Framework
  • Ladder of Loyalty
  • Customer Bonds
  • Customer Defections
  • CRM Framework
  • Expert Insights
Week 3 - Economies of CRM

 

  • Evolution of Markets
  • Customer share vs Market share
  • Lifetime Value of Customers
  • Markov Analysis 
  • Activity Based costing for CRM
  • Customer Equity
  • Expert Insights
Week 4 - CRM in Business Markets

 

  • CRM in Services
  • Applications of CRM
  • CRM in Goods-Speciality Chemicals
  • Expert Insights
Week 5 - CRM in Business Markets

 

  • Introduction to CRM in Business Markets
  • Buhlers Interviews
  • Pidilite Interviews
  • Importance of CRM in B2B Markets
  • Expert Insights
Week 6 - CRM Implementation

 

  • Technology for CRM
  • CRM Implementation
  • Operational Issues in Implementing CRM
  • Expert Insights

By the end of this MOOC you will be able to:

  • Explain the meaning and application of CRM
  • Elaborate on the benefits of CRM to companies and consumers
  • Implement CRM best practices in organisations
  • Explain the importance of bonding and building loyalty with customers
  • Demonstrate how to build long-term customer relationships

Students pursuing post-graduate, executives and aspiring managers interested in customer relationship management.