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Topics and Objectives:
We'll start with some business press articles focusing on customer-centric marketing.
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:
Why Service Stinks, Business Week
A (rather opinionated) cover story article from Business Week lamenting poor service concludes that service is increasingly dependent on how valuable a customer you are. The article provides some eye-opening examples (both good and bad for the customer) highlighting examples of customer segmentation based on value.
A Measure of Success, Business 2.0.
Turn Customer Service in Customer Profitability
- One of the earlier articles to argue that businesses should think of (and treat) their customers as assets.
Case: Custom Research, Inc. (A) (Harvard case)
Case Preparation Questions:
Note: Feel free to skim (or skip entirely) Exhibit 2 on pages 7-14 unless you are particularly
interested in seeing an example of a market research study.
- What are the key issues in this case?
- What did you learn from Exhibit 3? What did you learn from pages 19-22 that is not contained on page 18?
- Which customers do you think Custom Research should want to keep? How would you decide which customers to keep?
- What additional information would you like to have?
- How would you deal with any customers you don't want to keep?
- What would you do about potential new customers in the future based on your decisions?
Optional Readings
Jane's Adventure in CRM Land, CIO Magazine
A hypothetical scenario illustrates how a bank might use CRM initiatives to build customer loyalty and company profits.
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