Marketing Insights and Customer Relationship Marketing

Transcription

1 Title: Long Title: Language of Instruction: Marketing APPROVED Marketing English Module Code: H9MICRM Credits: 5 NFQ Level: LEVEL 9 Field of Study: Marketing and advertising Module Delivered in 1 programme(s) Module Coordinator: Louise (F) Maguire Module editor: OLIVIA LEE Teaching and Learning Strategy: The module is delivered through lectures, demonstrations, class discussions and hands-on sessions. It is intended that the classes be interactive and student participation is expected. Case study analysis and discussion is also an important part of this course. This module will include practical labs that will utilise an environment like Microsoft Dynamics CRM Online for hands-on practice. Learning Environment: Learning will take place predominantly in a classroom environment but there will also be some lab work.. Learners will have access to library resources, both physical and electronic, outside of the classroom where required. Selected module materials will be placed on Moodle, the College s virtual learning environment. Moodle may also be used to both interact with students and in some instances to provide formative assessments and feedback. In addition to the classroom this module will utilise Microsoft Dynamics CRM Online for hands-on practice in the lab. Module Description: This course is designed to provide students with an understanding of relationships within and between the various stakeholders in the business network and how these influence modern marketing strategy and practice. Students will achieve a deeper understanding of the principles and skills that develop and maintain excellent customer relations and create satisfied customers, staff and stakeholders. Achieving customer loyalty is more important than ever in this era of excessive customer choice and CRM can help to achieve this if implemented correctly. Learning Outcomes On successful completion of this module the learner will be able to: LO1 LO2 LO3 LO4 LO5 LO6 Examine firms internal and external relationships with all stakeholders and how they contribute to business success. Critique relationship marketing strategies Critically reflect on customer behaviour in different exchange relationships such as in service settings, in how consumers interact with products, in how they consume experiences and events and also in business-to-business settings. Analyse the management of the customer lifecycle: customer acquisition, customer retention and critically, in the development of customer loyalty. Demonstrate full comprehension of CRM and related marketing techniques with an appreciation of their potential and limitations in real-world applications. Apply analytical relationship management techniques to real-world data and extract meaningful customer insights. Pre-requisite learning Module Recommendations This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s). No recommendations listed Requirements This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section. No requirements listed

2 Module Content & Indicative Content Introduction to CRM What is Customer? The Concept of : Its Origins and Tenets: The Importance and Elusiveness of Customer Loyalty: The Benefits of Customer Loyalty; Creating Customer Satisfaction: The Five Q s of Customer Satisfaction; Creating Customer Value Contemporary CRM Value-Based CRM; Customer Life Cycle; Behavioural Dimensions of Customer Relationships; The Sales Maturity Model; Operational CRM vs. Analytical CRM; 360o Customer Centric view Customer Loyalty The Value Proposition: Customer Acquisition versus Customer Retention, The Economics of Customer Retention and Customer Loyalty; Customer Lifetime Value: Exit Barriers; Switching Behaviour: Delivering the Total Customer Experience Services Industry The Characteristics of Services: Experience versus Credence Services: Core Service, Employee Service and Servicescapes: Service Encounters: Social Facilitation Theory; Zone of Tolerance. CRM Strategy What are the Principles of CRM? Implementing Effective CRM Strategies; Perceived Risk; Salience; The Importance of Trust; Why CRM Fails: Situational Analysis: Building Capabilities; SOSTAC The Analytical CRM Process Problem Formulation and Strategic Objectives; Data Preparation; Analysis; Data mining and Machine Learning techniques Segmenting the Market Basis for Market Segmentation: R-F-M - Recency, Frequency, Monetary: VALS: The Gravity of the Decision Spectrum Loyalty Schemes What is Customer Loyalty? What is a Customer Loyalty Scheme? Do Loyalty Schemes Work?: The Brand Web: Data Mining: Market Basket Analysis: Data Mining: Customer Insights; Criticisms of Customer Loyalty Schemes. Loyalty Programme Success Customer and Employee Relationships The Importance of Corporate Culture and Organisational Climate to Successful CRM; COSE (Customer Oriented Behaviour of Employees); Information SILOs; Internal Marketing:: Empowerment: Frontline Employees: Emotional Labour: Burnout Communications and CRM Direct Marketing: Permission Based Marketing: Levels of Permission; Opt in versus Opt out; Dialogue versus Monologue, Customer cooption of Marketing Messages, Database Management, Social Media Marketing (Social CRM), CMR, Social Networks Breakdown % Coursework 50.00% End of Module 50.00% Full Time Coursework Type Description Outcome addressed % of total Date Assignment Students will be required to complete two assignments one assessing their knowledge of the theoretical CRM concepts and will therefore be either a case study or an essay. They will also be required to carry out an analytical assignment using CRM software to generate data and customer insights. 1,2,3,4,5, n/a End of Module Type Description Outcome addressed % of total Date Terminal Exam There will be a two hour final examination at the end of the semester. 1,2,3,4,5, End-of- Semester No Workplace Reassessment Requirement Repeat failed items The student must repeat any item failed Reassessment Description The student must repeat any item failed NCIRL reserves the right to alter the nature and timings of assessment

3 Module Workload Workload: Full Time Workload Type Workload Description Hours Frequency Average ly Learner Workload Lecture No Description 30 Every Independent Learning No Description 95 Every Total Hours Total ly Learner Workload Total ly Contact Hours Workload: Part Time Workload Type Workload Description Hours Frequency Average ly Learner Workload Lecture No Description 30 Every Independent Learning No Description 95 Every Total Hours Total ly Learner Workload Total ly Contact Hours 30.00

4 Module Resources This module does not have any book resources This module does not have any article/paper resources This module does not have any other resources

5 Module Delivered in Programme Code Programme Semester Delivery MSCMRKD MSc in Marketing 1 Optional