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Ko University - CEMS MIM Block Seminar Syllabus Customer Relationship Management (CRM) 3-7 September 2012 Ko University, Rumeli

Feneri Campus, Istanbul Turkey

Contents
1. General Description ......................................................................................................................... 3 2. Objectives .......................................................................................................................................... 3 3. Method ............................................................................................................................................... 3 4. Grading .............................................................................................................................................. 3 4.1. Assessments 55% ................................................................................................................. 4 4.2. Class Participation 15% ........................................................................................................ 4 5.1. Group Case Analysis 25% ................................................................................................... 4 5.2.Peer Review 5% ..................................................................................................................... 5 6. Seminar Venue ................................................................................................................................. 5 Program and Schedule*....................................................................................................................... 6 September 3, 2012 Monday ............................................................................................................ 6 September 4, 2012 Tuesday........................................................................................................... 7 September 5, 2012 Wednesday ..................................................................................................... 8 September 6, 2012 Thursday ......................................................................................................... 9 September 7, 2012 Friday ............................................................................................................. 10

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1. General Description Customers are intangible assets of a firm. Therefore, they should be valued and managed. Customer Relationship Management (CRM) focuses on using information about customers to create marketing strategies that develop and maintain desirable customer relationships. By increasing customer value over time, organizations try to retain and increase long term profitability through customer loyalty. In this 5 day Block Seminar, we will blend academic perspectives with case analysis and corporate experience to provide well-rounded insights and understanding into a timely business topic. 2. Objectives The aim of this seminar is to provide students with a profound understanding of the opportunities and challenges provided by CRM applications. Through participating in the seminar the students will: learn the importance and value of building and sustaining long term customer relationships, thus understanding the strategic importance of CRM understand what CRM metrics are and how to use them implementing CRM with company examples and case analyses.

The specific topics covered to reach the learning objectives include: What is CRM? Why is it important? What are objectives of CRM? What role do brands play in building developing, retaining, and growing profitable customers? CRM Strategy and the strategic component of CRM Implementation issues associated with CRM strategies and industry applications CRM objectives and the need for data mining, data sources and variables for CRM ( from exploratory analysis to predictive modeling). Managerial evaluations and industry examples of CRM 3. Method The course integrates various teaching methods such as theory lectures, discussions, cases, company visits and group work. Substantial classroom discussion is encouraged and expected. There will be two written assessments: on Monday, September 3rd (13:30-14:30 one hour) covering the advance readings; and on Friday, September 7th (8:30-9:30 one hour) covering the class material discussed during the Block seminar. 4. Grading Students will be assessed on their: Ability to understand the uses, objectives, applications, strategic issues and data applications of CRM. Active preparation and participation in class The performance in the assessments. Ability to work in teams.

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The final grade will be based on: Individual Assessment written assessment on Monday participation and active involvement in class written assessment on Friday Group Assessment group case analysis group peer review The following evaluation scheme is applied: Grade Points A B C D > 86 70-85 60-69 50-59 EXCELLENT - outstanding performance with only minor errors VERY GOOD - above the average standard but some errors GOOD - generally sound work with a number of notable errors SATISFACTORY - fair but with significant shortcomings 25% 5% 25% 15% 30%

Fail <50 FAIL - performance does NOT meet the minimum criteria; considerable further work is required 4.1. Assessments 55% An exam will be given on Monday, September 3rd (13:30 14:30) covering the advance readings provided in the reading pack. The assessment questions will consist of a selection of preparatory questions provided. A second exam will be given on Friday, September 7th (8:30 9:30) covering the class material taught during the block seminar. You will have one hour for both exams. 4.2. Class Participation 15% While participation is worth 15%, it could represent the difference between an A or a B. The criterion for evaluating student class participation is the degree of consistency that is participating consistently in every class and substantiality that is quality of your contribution. 5.1. Group Case Analysis 25% The objective of this case analysis is to provide you with experience in applying the CRM concepts. The case allows for applying the theoretical knowledge acquired in the class sessions, to a real-life challenge. The case is due at 21:00 on Thursday evening, September 6, 2012. Further details on the Group case analysis will be provided in the first session. The group project will be evaluated based on the following criteria: Thoroughness. Analysis hits on all major, relevant topics. Focus. The key issues are identified and illuminated. Sound argument. The content is logical & internally consistent. The reader/grader may not agree with your conclusions and recommendations, but he/she will understand how you got there and respect your argument. Makes the point. Summarizes findings and/or conclusion for the reader/grader.

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5.2.Peer Review 5% Each team member is required to submit a peer rating form. This form contains an evaluation of each team member excluding yourself. The form will be kept in strict confidence. You should award the 100 points among your team members based on a consideration of the following (excluding yourself): 1. Willingness of the individuals to carry out jobs assigned. 2. Ability of the individual to meet deadlines. 3. Cooperation with other team members. 4. Quality of the individuals work. 5. Individuals overall contribution to completion of the case analysis. 6. Seminar Venue The seminar will be held at Ko University Rumeli Feneri Campus, Istanbul. (Rumeli Feneri Yolu, Saryer, 34450 Istanbul.) More detailed Google map can be accessed from the below link http://www.ku.edu.tr/en/navigation/contact Classes will be held in Z48 and Z08 College of Administrative Sciences & Economics Building (CAS) Ground floor. CEMS Office is located in CAS 116 in the Graduate School of Business quarters. 7. Contact Persons Prof. Ayegl zsomer Block Seminar Lecturer ozsomera@ku.edu.tr (Please contact Prof. zsomer only for questions on the content of the Block Seminar) Selnur Orhon sorhon@ku.edu.tr CEMS Programme Manager, tel: 90 212 338 1455 Burak ullu bcullu@ku.edu.tr CEMS Programme & Corporate Relations Manager, tel: 90 212 338 1875 or GSM: 0090 549 542 6934 (Please contact Ms. ullu for questions concerning the administrative issues of the Block Seminar.)

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Program and Schedule* September 3, 2012 Monday 08:30 - 09:00 09:00 - 10:00 Welcome coffee CAS Z 48

Welcome session (official welcome, group formation and CAS Z 48 assignment) (Professor: Ayegl zsomer, Ko University) Introduce the professors and the course format Outline and introduction of expectations

10:00 - 12:30 12:30 - 13:30 13:30 - 14:30 14:30 - 14:45

Ice-breaker workshop Lunch Assessment on Readings (Professor: Ayegl zsomer, Ko University) Coffee Break The Role of the Brand in CRM (Professor: Ayegl zsomer, Ko University) The brand-customer connection The differential impact of brand-centric and customer-centric approaches Relationship between satisfaction and brand preference Advance Reading: Keiningham, T Timothy L., Aksoy, Lerzan, Perkins-Munn, Tiffany, and Vavra, Terry G. (2005), The BrandCustomer Connection, Marketing Management, JulyAugust 2005, 33-37 Bick, Geoffrey N. C. (2009), Increasing shareholder value through building Customer and Brand Equity, JOURNAL OF MARKETING MANAGEMENT, Vol. 25, No. 1-2, pp. 117-141. Preparatory Questions: 1. Why are both brand-centric (such as brand preference) and customer-centric measures (such as customer satisfaction) needed in order to accurately predict future purchase behavior? 2. What are dangers of using retention as the ultimate measure of loyalty? 3. What is share of wallet and how is it related to customer satisfaction & Brand preference? 4. What is brand Equity? What is Customer equity? How are they related?

Founders Hall Student Center, -2 CAS Z 48

CAS Z 48

14:45 - 16:45

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16:45 - 18:30 18:30 - 20:30 20:30 - 00:00 00:00

Transportation to Taksim by bus Welcome cocktail at Ko University Research Center for Anatolian Civilizations Free time at Taksim Transportation to West Campus Dormitories RCAC, 3rd Floor, stiklal St.

September 4, 2012 Tuesday Definitions and Objectives of CRM Tuesday Sept. 4th, 2012 Prof. Skander Esseghaier, Ko University Morning Session 09:00 10:30 A Strategic CRM: Importance and Value of Long Term Relationships Introduction to CRM The Loyalty Effect The Satisfaction-Profit Cycle Organizational Issue ToysR Us B Strategic CRM: Customer Selection and Relationship Building 12:30-13:30 Afternoon Session 13:30 14:30 14:45 15:45 16:00 16:20 Importance of Customer Selection: The Whale Curve Customer Profitability: Customer Lifetime Value Customer Acquisition: Choosing the Right Customer Importance and Drivers of Customer Retention

11:00 12:30

Lunch Break C Group Exercise: Fashion Direct Inc. Group work Class Discussion Class and Day Wrap Up Advance Reading: A Framework for Customer Relationship Management, Russell Winer, California Management Review, 43 (4), 2001, p.89-105 Diamonds in the Data Mine, Gary Loveman, Harvard Business Review, May 2003 Preparatory Questions: 1- According to the CRM framework, on what basis should firms select customers? 2- What are the key issues in creating a database for CRM? 3- What is the value for Harrahs of having the Total Rewards card?

18:30 - 22:30 22:30

Boat Tour on Bosphorus Transportation to West Campus Dormitories


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September 5, 2012 Wednesday CRM Strategy CAS Z 48 Professor: Maik Eisenbei, U. of Cologne The strategic component of CRM Case Study: Customer Relationship Management at Capital One How to translate CRM into the strategy, organizational design, marketing, hiring process, and IT infrastructure of a company? How to organize to create the service climate for effective CRM implementation within the organization? How to motivate and evaluate employees? Advance Reading: Day, George (2000) Managing Market Relationships, Journal of the Academy of Marketing Science, Vol. 28 (1). Rust, Roland T, Christine Moorman, and Gaurav Bhalla (2010) Rethinking Marketing, Harvard Business Review, Vol. 88 (1/2). Preparatory Questions: 1. What are the key differences between transactional and collaborative exchanges? 2. What are the key elements a firm has to master in the development of relationship-based competitive strategies? 3. What is the general idea behind reinventing the marketing department as a customer department? And what specific structural changes are required to accomplish that goal? 4. What are the core tasks and responsibilities of a successful chief customer officer (CCO)? Provide examples to illustrate your answer from the HBR paper Rethinking Marketing. 5. What makes a good customer manager and how does he/she differ from a product/brand manager? Case study Customer Relationship Management at Capital One (UK), INSEAD 04/2003 5016 (will be covered in class) 12:00 - 13:00 13:00 - 16:00 Lunch CRM Strategy continued Free Evening Student Center, -2 CAS Z 48

09:00 - 12:00

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September 6, 2012 Thursday Selected Topics and Issues in CRM (cases) CAS Z 08 Professor: Dr. Stefan Wiesel, Vienna University of Economics and Business Selected Topics and Issues in CRM (cases) Translation of key concepts discussed in the previous modules into practice Implementation issues associated with CRM strategies Presentation and discussion of industrial applications: Automated pricing Targeted campaigning New product development

9:00 12:00 morning session 12:00-13:00 lunch (Student Center, -2) 13:00-16:00 afternoon session

Advance reading Hanssens, D. Thorpe, D., Finkbeiner, C. (2008): Marketing when Customer Equity Matters. Harvard Business Review. 86 (5) 117-123 Rigby, Darrell K., Reichheld, Frederick F., Schefter, Phil (2002): Avoid the Four Perils of CRM. Best Practice. Harvard Business Review, Vol. 80 (2) Preparatory Questions 1. Why can it be important to include external parameters like economic indicators or seasonality when modeling the impact of marketing mix variables on customer equity? What are possible consequences when omitting them? 2. Describe the model connecting marketing-mix elements to customer equity in the Wachovia case-study. 3. Describe the relationship between annual marketing spending and customer equity and discuss the different zones and there consequences for marketing spending. 4. What are the key challenges in implementing CRM and how might they be addressed? Evening: Working on cases

16:00-16:30 16:30-17:30

Coffee Break Guest Speaker, nan akrolu TURKCELL, CRM Solutions Management Unit Manager

Free Evening Soft copy versions of Group case solutions due at 21:00 (mail to aozsomer@ku.edu.tr)

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September 7, 2012 Friday 08:30-09:30 09:30-10:30 10:30-12:00 12:00-13:00 13:00-15:30 15:30-17:00 Exam on Class Material Case Discussion and Course Evaluation Prof. Ayegl zsomer & Mehtap Alp, BOYNER Group, Marketing Deputy Manager Transportation to Yap Kredi Bank /UniCredit Group Lunch Company Visit to Yap Kredi Bank /UniCredit Group Mr. Grcan Krmz, Card Payment Systems Portfolio Management Director at Yap Kredi Bank Transportation to West Campus Dormitories

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