Customer Relationship Management (EBFV202)

PURPOSE

The general purpose of this module is to acquire the applicable knowledge, understanding and application possibilities of the important role and function of the customer relations of a firm. The focus of the module is on the economic functioning of the customer relations of a firm with various internal and external stakeholders and the important role it plays in the profitability and successful survival of the firm.

LEARNING OUTCOMES

• Identify the philosophies of relationship marketing (RM) and customer relationship management (CRM) and its importance, and organisational requirements, for firms.
• Demonstrate an understanding of customer relationships, customer bonding, customer retention and the lifetime value of customers.
• Identify the dimensions of customer service and comprehend the concepts customer expectations, service quality and customer satisfaction.
• Understand the importance of internal marketing with employees, the components of internal marketing and the managerial implications of internal marketing.
• Determine how firms can customise their products and services to satisfy the needs of specific customers and differentiate between one-to-one marketing and mass customisation.
• Establish the nature of relationship marketing and customer relationship management in business-to-business markets and explain how e-commerce can be used as a tool in managing business relationships.
• Demonstrate an understanding of how, and with which stakeholders, for example government, community and intermediaries, a firm should maintain relationships.
• Determine the stages in the customer relationship management planning process.
• Demonstrate an understanding of the implementation of a customer relationship management strategy by highlighting the importance of communication, control and a customer leader, as well as changes in technology, processes and people.

CORE CONTENT

• The nature and role of relationship marketing:
• An overview of relationship marketing and customer relationship management.
• Building customer relationships:
• An overview on the nature of relationships and customer bonding.
• Customer service issues.
• Internal marketing:
• Internal markets and internal marketing methods.
• One-to-one marketing/mass customisation.
• Relationship marketing and customer relationship management in business-to-business markets.
• Customer interaction channels:
• Stakeholders in relationship marketing and customer relationship management;
• Customer database management.
• Planning the customer relationship management strategy.
• Customer relationship management implementation and applications.
• The role of technologies and metrics in customer relationship management.

Evaluation criteria

100% Continuous assessment:

• 1x Semester test (Final mark weight = 20%)
• 5x Class tests (Final mark weight = 40%)
• 1x Assignment (Final mark weight = 20%)
• 1x Presentation (Final mark weight = 10%)
• 1x Case Study (Final mark weight = 10%)

MODERATION

Internal.

Prerequisites

• Introduction To The Business Functions (EB122)

Evaluation criteria

100% Continuous assessment:

• 1x Semester test (Final mark weight = 20%)
• 5x Class tests (Final mark weight = 40%)
• 1x Assignment (Final mark weight = 20%)
• 1x Presentation (Final mark weight = 10%)
• 1x Case Study (Final mark weight = 10%)