However, one of the major difficulties in driving this shift from a product-centric approach towards a customer-centric mindset is the lack of technical skills. The topic of CRM entails a broad set of concepts that could not possibly be covered in one single course, which is why this course focuses on exploring the basic principles behind such concepts. More specifically, the course of Marketing Engineering and Marketing Models will expose students to the problems associated with customer-centricity and cover some of the models that can be used in studying and solving such problems.

In this course we address the strategic and operational principles that are at the heart of every successful CRM implementation. We will develop an understanding of concepts such as customer centricity, customer lifetime value, customer equity, or customer retention, and discuss how data-rich environments and data science (will) impact marketing practice. CRM strategy implementation in the areas of loyalty programs, services, and complaint management will be examined. The course will expose participants to an integrated view of CRM theory and practice, with case study analyses and a customer centricity simulation game constituting major course elements.

The course integrates various teaching methods such as interactive lectures, class discussions, case analyses, group work, and a unique business simulation game. The simulation mimics the business situation of a struggling company aiming to implement a customer-centric business model. Participants playing the role as a CMO explore and measure the impact of customer acquisition, retention and development initiatives over a nine-year period. Substantial classroom discussion is encouraged and expected. Attendance and participation in class discussions are critical to the success of the course and will be part of your grading. Classes will begin on time so do not arrive late. Students are required to turn in assignments at their scheduled times.

Course materials:

• To get prepared for in-class case discussions a reading package will be provided.
• Daily student packages including reading assignments, course slides, datasets, case questions for the respective day will be provided via the learn@wu platform in due course.
  
• It is recommended that students have access to SPSS, R, or any statistical software they feel comfortable with.
  

Grading will be based on a ranking approach. For each and every component, the best student(s) will be awarded full points and the remaining students will be graded in proportion to their performance in comparison to the best student. Grading will be based on the following components:

• In-class participation (10%)
• Case Study (30%)
• Simulation Game: Performance and Presentation (45% + 15%)
  

In-class participation (10%)

Students can choose between oral and written contributions. Oral contributions will be assessed based on the students' individual participation in class. Written contributions should consist of three short memos (500 words max) summarizing the students' thoughts on topics covered in three of the sessions. Students are encouraged to be creative in expanding the topics, instead of merely summarizing the content of the class. These memos should be submitted before the last session and by submitting (at least) one memo, students will be opting for the written contribution, meaning their oral participation will not be considered for grading purposes.

Case study (30%)

The case study should be solved in groups and discussed in class. The groups will be assessed based on a short report (2000 words maximum).

Simulation Game: Performance and Presentation (45% + 15%)

Students will play a simulation game that mimics some of the challenges faced by CMOs and other executives in today's business environment. Each group will be graded according to its performance against its peers. This performance will be measured by the market valuation achieved by the end of the 10 rounds that constitute the game. 

In order to improve the  learning outcomes, students will be given the opportunity to present and discuss their strategies and subsequent results.

Peer evaluation

Students will be asked to assess their colleagues’ performance by assigning 100 points among all the group members (including themselves) for the activities concerning the simulation game and the case study. The distribution of the points will determine the proportion of the points awarded to the respective group members. This means that the peer evaluation can affect a student’s performance both positively and negatively.

If there is an unequal distribution of the points in a group, the group members will be asked to write an exposé stating their reasons for agreeing or disagreeing with the final distribution of the points. If at least one of the members disagrees with the final distribution of the points, all students will be subjected to an individual oral exam which will replace the entire grading on their group performance for that specific task.

Minimum criteria for passing the course

To maximize indiviudual learnings and take-aways from this course, we expect every student to actively participate in the group works and course discussions. The minimum requirements to successfully pass the course are: (i) Attendance higher that 80% of the time devoted for in-class sessions, (ii) submission of the written case study report in due time, (iii) submitting group-decisions for ALL 10 rounds of the simulation game, (iv) being assessed with non-zero points in the peer evaluation component. Adherence of all these critiria is strict and cannot be compensated. Fraud and plagiarism will be punished by failing the course.