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Level 5: Managing Customer Relationships
Introduction
Critically assesses the key features and personal attributes important to effective customer relationship management strategies and the important underpinning principles and cultures.
Module Description
This module aims to acquaint students with the underlying theory and practice associated with initiating, developing and growing relationships with key business contacts in order that they are able to maximise their effectiveness in this area of their business and personal lives.
Module Content
The rise of the perceived importance of customer relationship management within the financial services industry is underlined by the current financial situation wherein banks and other financial services institutions find themselves attempting to manage customers and clients that they do not really know. The larger institutions have recognised this and are developing programmes to assist the development of relationship management skills in key customer facing staff. This programme will support these programmes by providing the academic knowledge required to support the skills imparted by training courses and developed by individuals in such roles. Its stand alone modular nature will also provide non-practitioners with a sound basis of knowledge they need to consider taking such a role in the future.
- Macro And micro views of the business environment, its competitiveness and possible future directions
- Strategy and the link between business strategy and the individual relationship manager
- How business strategy is developed using classic and modern analysis tools, structured, communicated and executed
- The role of the relationship manager – skills, knowledge and personal attributes necessary to be effective in the role
- The significance of Customer Relationship Management strategies and systems in the context of overall business strategies and the relationship of the individual to the overall strategy of the organisation
- Portfolio management theory and key account management theory and their respective relevance to modern relationship management roles in financial services institutions
- An introduction to sales management theory including buyer psychology, sales initiation strategies and closing techniques
- Quantitative and qualitative situational and progress measuring methods including target setting and monitoring, customer surveys and market and wallet share measurement
- An introduction to marketing theory including the main analytical models and the practical aspects of customer segmentation and marketing strategy
- Personal skills development theory including coverage of the main skills associated with effective relationship management such as interpersonal and team skills, communications, negotiating and leadership skills
