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Topics and Objectives:
We'll start with some business press articles focusing on customer-based strategy. The readings cover both real and imagined customer
relationship management initiatives and offer perspectives from both the firm and the customers' points of view.
The goals are to get you thinking about the issues and opportunities that customer-centric
marketing offers.
Required Readings:
Competing on Analytics, Harvard Business Review, 2006.
- An HRB article highlighting the growing use of analytics in all aspects of business.
Winning Customer Loyalty is the Key to a Winning CRM Strategy, Ivey Business Journal, 2003.
This is a Marketing Revolution, Fast Company
This article describes Capital One's aggressive use of customer data - resulting in both increased revenues and decreased costs. It also
stresses Capital One's committment to testing and experimentation.
A Measure of Success, Business 2.0.
Case: Customer Relationship Management at Capital One (UK) -
(sent with pre-readings) .
Case Questions:
- How would you define CRM - briefly and succinctly?
- If it is to become more than a concept, CRM needs to be translated into specific activities and processes. Based on the case, what are the
key CRM activities and processes of Captial One?
- What can be learned from the CRM practice of Capital One that could be applied to businesses in other industries? What aspects cannot be
applied?
- It is often claimed that CRM can create competitive advantage. Does CRM create competitive advantage for Capital One? Why or why not?
Deliverable:
- One sentence deescription(in your words) of what customer relationship management means to you. (Note- there is no correct answer!)
General Discussion Questions:
- What are the benefits/disadvantages of a customer-based strategy to the firm and to consumers?
- Do you have examples of effective or ineffective CRM from your experience as a consumer or in your business life?
- Is the message from 'Winning Customer Loyalty is the Key to a Winning CRM Strategy' consistent with or contradictory to Capital One's CRM strategy?
Additional Readings:
Credit Card Revolutionary, Stanford Business, May 2001
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