Customer Relationship Management (online)

Start Date: Dec 30, 2021 End Date: Jan 30, 2022
Last Date for Application: December 16, 2021
Programme Fee: 120000 INR

Plus, GST

“Customer is the King” is a widely used phrase today in the environment of increasing competition and consumer awareness. In the ‘Fast Moving Consumer Goods’ industry, while one or two companies dominated the scene in the 80s and the 90s, recent periods have seen fragmentation of the markets not only in terms of brands but also in terms of national and regional companies as well as product categories. As the choices available are increasing and customer is becoming more aware, the challenges before the marketing executives are also increasing. To serve the customer in a better way, it is foremost that the customer is understood better. The combination of above factors has given rise to the practice of ‘Customer Relationship Management’ or CRM and going further in developing individual relationships. The trend is shifting to ‘Customer Managed Relationship’ or CMR. It could be viewed as a practice of managing relationship with the customers with the help of IT that helps in integrating database knowledge with customer retention and growth strategy of the company.

IT has revolutionised the business. It has increased efficiency by reducing the time and the cost to perform various activities and has increased the accuracy of processing data. IT makes it possible to keep records of millions of customers and billions of transactions. It also assists in processing data at a very high speed. New insights in management science have given us newer mathematical and behavioural models that help us understand the consumer in various perspectives. It is possible to measure brand loyalty, customer churn, life time value and so on. A majority of techniques like collaborative filtering, artificial intelligence, and ERP have been evolved to personalise relationships with customers.

After ERP software, CRM is the single largest source of investment in companies. In the last three decades, many organisations have drained a lot of money as investments on ERP. Early results show that experience with CRM is no different either. Companies make investments on CRM to realise that the end result is not according to the expectations. Many a times, the functions desired by CRM application are not available and, at other times, there is a mismatch between expectations and delivery. Studies have shown that up to 32 per cent of CRM efforts fail to achieve their targets. This rate is as high as 55 per cent in the first year of operations. Careful execution of CRM would result in saving lot of time and money for the organisation.

The above gap is what this programme aims to bridge. The programme aims to understand the realm of CRM and how organisations can use it for creating value, discuss which kind of organisation should adopt a CRM strategy specific to its need and what is the financial and non-financial value derived from CRM, and explain Business Intelligence and its role in CRM.

• Understand the concept of CRM and benefits from it.

• Understand how to use data for gaining strategic advantage.

• Understand the linkages between financial profitability and CRM efforts.

• Understand CRM software and hardware and challenges in CRM implementation projects.

• Identify the appropriate CRM strategy.

• Design strategy for enhancing revenue management.

  • CRM as a strategy
  • Using customer data for designing offers
  • Implementation of CRM
  • Managing customers for life
  • Evaluating customer profitability and developing strategic cost advantage
  • Selecting the right CRM strategy
  • Business Intelligence
  • Determining ROI of CRM initiative
  • Social networking

The programme is designed for Marketing Managers and Information Systems Managers interested in understanding the relationship between customer, CRM, and Information Systems. Marketing Managers who wish to understand the concept of CRM and wish to implement it in their respective organisations or IT Managers who are evaluating various CRM products would benefit from the programme.

Faculty Chair

Sanjay Verma

Programme Faculty