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May 03, 2024
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MG 775 - Marketing Strategies3 lecture hours 0 lab hours 3 credits
Course Description
Getting close to the customer and building sustainable customer relationships through integrating sales and marketing is mandatory for success in today’s highly competitive markets. The level of customer loyalty a firm builds directly influences sales growth and corporate profitability, and the strategies it uses to acquire new customers. This course examines the strategies that have proven effective in building customer loyalty, while at the same time, lowering sales costs. An essential element is to investigate the dual strategies of account penetration and cultivation. Another aspect focuses on using a marketing database for new customer acquisition. Other topics covered include relationship-based marketing techniques, integrated marketing and sales communication, marketing database management and the economics of marketing. (prereq: MG 600 , MG 633 , MG 670 , and graduate standing)
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
Learn the various integrated sales and marketing ways firms build effective and loyal customer relationships.
Prerequisites by Topic
Understanding of business management and the value of customers
Course Topics
Review of marketing’s basic concepts. Introduction to customer relationship management New marketing paradigms • Market segmentation Transformations in sales and marketing organizations • External service values Service-profit chain model Integrated marketing process model • Customer satisfaction/retention/loyalty issues Importance of customer retention and lifelong value • Communication with your customer Database marketing Database marketing service-profit chain simulation • Uses of database marketing Creation of the customer community center Customer cultivation • Retention strategies Hunter contact model • Acquisition strategies Developing a contact plan • Lead management E-business marketing strategies • Marketig leadership Beyond customer relationship marketing
Laboratory Topics
None appended
Coordinator
Dennis Wanless
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