MKT 323 Customer Experience Management Study + Internship in Prague Program Summer 2019 June/July 9-Week

Creating compelling customer experiences is one of the most important current trends in marketing, which has also arrived in mainstream marketing consulting. Firms like KPMG and Ernst & Young offer programs to help their clients develop and maintain holistic customer centric marketing approaches which use innovative tools and methods, including "Big Data". Customer expectations have changed tremendously mainly due to the rise and everpresence of the Internet. Online, offline, B2C (business-to-consumer) or B2B (business-tobusiness) - in all areas customers assess and value holistic seamless experiences, at the core of which is the expectation that all business interactions should be easy, reliable and pleasant. Creating compelling customer experiences has become an innovative way to gain sustainable competitive advantage. In a global economy, in which technology advantage and product life cycles are constantly decreasing, the way how to market products and services, and how to design internal processes which have impact on customer
relationships, has become more relevant than ever.

We also know more than ever about consumer behavior and preferences. Current advances in Neuroscience and Behavioral Economics provide insights how to attract and retain customers, what shapes their buying behavior, what they expect and how to meet these expectations long-term.

Customer Experience Management (CEM) is a strategic direction firms take to meet the new every-changing needs of their target customers. CEM offers an innovative approach to how to assess, create and evaluate all processes related to customer experiences. It is a holistic approach and involves the whole organization. Neuroscience and Behavioral Economics tell us that firms can no longer expect customer decisions to be based on communicating narrow rational facts and arguments. Holistic experiences take all human senses into account which, perhaps surprisingly, is equally important in B2B settings. Innovative brand marketing tries to connect with customers' emotions, thoughts, cravings, physical needs and senses like touching, feeling or smelling. The challenge is to create processes and environments in which customers love to do business, in which doing business and interactions are easy and even, possibly, fun. CEM is a new way of integrating technical possibilities, face-to-face relationships and social skills to create new opportunities. To do so firms need to create processes in which each and every step is consciously designed.

CRM, (Customer Relationship Management) offers the technical backbone for the customer experience. Even though many organizations today use CRM-systems, the necessary holistic approach is still not generally accepted. Flaws in implementation (including training) and lack of strategic goals are still common.

The course evaluates the challenges and opportunities CEM offers. It will explore the strategies and concepts of customer experience management. Students will learn how to create compelling experiences along the whole process of customer touch-points, the customer journey. It will especially cover the meaning and impact new research in Neuroscience and Behavioral Economics has on consumer behavior and loyalty and how
neuromarketing can make use of these findings while maintaining ethical standards. It will explore the use of CRM systems to optimize the efficiency, especially of sales organizations, and how technology can support the development and implementation of growth strategies. It will discuss implementation processes and the necessary change management programs to achieve a broad acceptance and understanding of CEM and CRM in the whole organization.