Programme

PGPX

Term

I

Academic Year

2021-22

Course title

Assessing and Creating Customer Value

Area

Marketing

Credits

0.75

Instructor(s)

Prof. Arindam Banerjee, Prof. Rajat Sharma

Course Description & Objectives

Introduction: The key purpose of any organization – be it a commercial organization with profit objective or a social service non-profit organization – is to serve the chosen needs of chosen sets of customers. Therefore, to be successful, an organization needs to identify market opportunities to add value to their customers and design, develop, deliver and manage market offers that satisfy their customers. Creating and managing customer value is the key paradigm that envelops marketing function today. This entails the following: Identifying market opportunities to add superior customer value, Designing market offers that constantly add value to customers’ current and changing requirements, Designing and managing efficient and effective value delivery systems, Deciding on monetary value for the organization’s market offers, Communicating value proposition to current and potential customers and other relevant constituencies and Developing appropriate monitoring and control systems to successfully manage customer relations on an ongoing basis. There are a set of analytical tools, concepts and frameworks that help a manager to identify and utilize market opportunities to add customer value. Based on an understanding of these tools, techniques, frameworks and approaches, a manager takes a gamut of marketing decisions which involve key decisions on which customer segment to focus, and what value proposition to be offered. Based on these decisions, the firm has to design, deliver, communicate and manage their market offers. These decisions are implemented, evaluated and monitored through appropriate marketing organization structure, systems and processes. This course provides insight into some of these complex sets of decisions that a senior level executive is expected to perform. Objectives: To develop participants’ conceptual understanding, substantive knowledge and analytical skills to arrive at decisions and action plans to connect the organization with customers on a sustainable basis. To develop participants’ perspectives to assess, select and create organization’s responses to market opportunities based on the concept of customer value as the central theme of marketing strategy

Pedagogy

This is a predominantly case discussion based course, supplemented with participants’ presentations and conceptual discussions. Participants are expected to read and analyze the case assigned for each session, discuss these in groups to develop deeper appreciation of issues given in the case before they come to the class with their analyses and decisions.