4 Credit Hours
The purpose of the course is to give students a thorough understanding of the principles of economics that are applied to the functions of individual decision makers, both consumers and producers, within the larger economic system. Skills acquired can be applied according to the principles derived from the analysis by conducting a comprehensive customer service strategy, Customer communications, including handling complaints, is emphasized, as well as Practical techniques for achieving customer satisfaction.
This course teaches you the important aspects of CRM often ignored by managers– How does CRM work? How does it accomplish what businesses seek? What is customer lifetime value? How do you calculate it? What happens if customers switch between brands, or buy and then come back a few periods later? What is customer equity and how is it determined? How is the customer database used? What is customer retention and how is it achieved? What is loyalty, how is it determined and are customers really loyal?