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Home / Syllabus / Master of Commerce (M.Com.) / Business Economics / Semester 4 / Customer Services and Relationship Management

Master of Commerce (M.Com.) Customer Services and Relationship Management Syllabus - Mumbai University

Customer Services and Relationship Management Syllabus.pdf
Elective course · Semester 4 · M.Com. Business Economics · 4 credits

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Syllabus for Customer Services and Relationship Management

Elective course · Semester 4 · M.Com. Business Economics · 4 credits

Module I: Introduction to Customer Services and Relationship Management

  • (2 Credits)
  • Unit 1 Introduction to Customer Servics Definition and Scope of Customer Service, Role and Importance of customer service in modern business, Types of Customer Service, Pre-sales and post-sales services, Personal and online customer service, In-house and outsourced customer service.
  • Role of Customer Service in Relationship Management, Linking customer service to business
  • performance, Customer service as a tool for building long-term customer relationships
  • Technology in Customer Service, Use of CRM software, Role of automation and AI in customer service, Social media as a platform for customer service
  • Unit 2 Customer Relationship Management (CRM) - Framework and Strategies Definition, scope, and evolution of CRM, Objectives and benefits of CRM in different sectors, Types of CRM Systems: Operational CRM (sales force automation, customer support), Analytical CRM (customer data analysis, behavior prediction), Collaborative CRM (partner and channel management) CRM Strategies for Business, Building a customer-centric organization, Customer lifetime value (CLV) and its importance, Strategies for customer acquisition, retention, and development.
  • CRM Implementation and Challenges: Steps for successful CRM implementation, Common
  • challenges in implementing CRM systems and overcoming them, Case studies: CRM success
  • stories from industries like banking, e-commerce, and hospitality

Module II: Enhancing Customer Loyalty and Innovation in CRM (2 Credits)

  • Unit 3 Customer Satisfaction, Loyalty, and Retention Measuring Customer Satisfaction, Methods and tools to assess customer satisfaction (surveys, Net Promoter Score, etc.), The importance of feedback in improving services.
  • Building Customer Loyalty, Difference between customer satisfaction and loyalty, Loyalty
  • programs (rewards, membership benefits, etc.), Creating emotional connections with customers.
  • Customer Retention Strategies, Factors influencing customer retention, Tactics for improving
  • customer retention: personalizing customer experiences, responsive customer service, addressing complaints, Case Studies on Customer Retention: Real-world examples of successful customer retention strategies, Best practices from industries such as
  • telecommunications, hospitality, and retail.
  • Unit 4 Technology and Innovation in CRM Digital Transformation in CRM, The impact of digital technologies on CRM, Omnichannel CRM: Integrating online and offline customer interactions, Role of websites, apps, chatbots, and social media in CRM. Role of Data Analytics in CRM, Using customer data to derive insights (big data, predictive analytics), Emerging Trends in CRM, Mobile CRM: Serving customers through smartphones and mobile devices, Cloud-based CRM solutions for small and medium-sized enterprises (SMEs), Applications of AI and machine learning in CRM (personalized marketing, sentiment analysis) Challenges in Modern CRM, Privacy and security concerns in managing customer data, Ethical concerns in personalized marketing, Future directions and innovations in CRM.

Suggested References

  • 1 Berry, L. L. (1995). On Great Service: A Framework for Action. Free Press.
  • 2 Bligh, P., & Turk, D. (2004). CRM Unplugged: Releasing CRM's Strategic Value. Wiley.
  • 3 Buttle, F., & Maklan, S. (2019). Customer Relationship Management: Concepts and Technologies. Routledge.
  • 4 Jain, P., & Bhatt, A. (2022). Customer Engagement: Contemporary Issues and Challenges in the Indian Market. Sage Publications India.
  • 5 Kumar, R., & Dutta, S. (2023). Customer-Centric Strategies for Growth in the Indian Service Sector. Emerald Publishing.
  • 6 Kumar, V., & Reinartz, W. (2018). Customer Relationship Management: Concept, Strategy, and Tools. Springer.
  • 7 Nair, A., & Jain, S. (2020). CRM in the Digital Era: Strategies for Indian Businesses. Wiley India.
  • 8 Payne, A. (2006). Handbook of CRM: Achieving Excellence in Customer Management. Butterworth-Heinemann.
  • 9 Peppers, D., & Rogers, M. (2016). Managing customer experience and relationships: A strategic framework. John Wiley & Sons.
  • 10 Sharma, R., & Suri, P. (2021). Strategic CRM: Approaches to Enhance Customer Experience in India. Himalaya Publishing House.
  • 11 Srivastava, P., & Rajesh, M. (2022). Artificial Intelligence and CRM: Emerging Trends in Indian Businesses. Springer.
  • 12 Verma, H.V. (2021). Customer Relationship Management: Concepts and Cases (3rd Edition). Pearson Education India.

Reproduced from the University of Mumbai syllabus for M.Com. (Business Economics) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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