243 Customer Relationship Management

Customer Relationship Management (CRM) is a management approach under which marketing activities are organized and measured around customers instead of brands. This approach benefits firms as customers and not brands make buying decisions. Applications of CRM range from creating better customer segments, understanding customer profitability to complete one-to-one marketing programs. You will learn software independent strategies, techniques and tools to managers can employ to accomplish the four major processes of CRM: (1) Customer acquisition (2) Customer retention (3) Customer satisfaction and development and (4) Customer profitability (or Lifetime Value).

Prerequisite: 204