On successful completion of this course, students will be able to:
SLO1: Understand the need for customer-centric marketing strategies and the science behind CRM.
SLO2: Understand the potential for the growth of CRM as the dominant form of marketing strategy and the effectiveness of various CRM techniques.
SLO3: Learn to plan and apply CRM tools that aid customer-level analytics and business performance.
Assessment Instructions and guidelines:
You have to choose a certain brand (real, not fictional) that relates to a product of a certain organization or business in a specified market. As a group of 4 to 6 students, you have to rewrite each of the following questions and answer it separately in details. Your answers should be supported by real life practical evidences and articles as well as academic research papers. Your group project should not be less than 3000 words and should include at least 10 academic papers and 10 practical evidences or magazine articles. You are required to use Harvard style referencing in-text and at the end in the references list. You are required to submit a complete hard copy of your project to your instructor by week 10 in the classroom and an electronic copy on turnitin for plagiarism validation.
A plagiarism rate of over 20% (excluding references, questions and titles) will be penalized. Please write this assignment in 12 point font, 1.5 spacing. 10% off the total mark will be deducted as a penalty for each day of late submission after your deadline (including weekends).
Group Project Questions
1. Present a short overview of your brand, product, organization, target audience and market.
2. Identify the major business orientation of your brand (is it: product, production, selling or customer oriented?) And explain why.
3. List the important constituencies of your company who have an interest in CRM and explain why for each.
4. A number of studies in different industries and companies support the relationship between customer satisfaction, loyalty and business performance. Briefly summarize two academic research papers that take about this Page 2 of 2 relationship (preferably, in your sector of business or industry) and explain how your brand can benefit from the findings of each of these two papers.
5. Which of the popular techniques for acquiring new consumers your brand is following? Rank each technique in order of which is most likely to result in high lifetime value customers; and provide an explanation for your ordering.
6. List and explain each of the positive and negative retention strategies your company or brand is using and evaluate the effectiveness of each strategy in your opinion.
7. Identify the 7Ps of your brand’s marketing mix and explain how each of them is generating value to the targeted customer.
8. Service recovery, that is managing a service failure, can actually build your relationship with a customer. From the history of your own company or brand, identify an instance where the company effectively recovered from a failure to fulfil what the customer expected. Explain what did the company do and what was the effect on their customers.
9. Identify and explain the effect of each of the 4I’s of customer engagement with your company’s or brand’s social-media web presence.
10. Identify the causes of your company’s CRM failure or success and explain why they are critical elements of CRM implementation