Strategic Value of Customer Relationships—September 29, 2014

The Wharton School, University of Pennsylvania

The Program

A highly interactive online program on Customer Centricity.

Tuition: $3,700

An application is required to participate in this program.

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Program Highlights

  • Live interaction with faculty
  • Feedback on assignments from teaching staff
  • Limited enrollment to ensure meaningful collaboration with faculty
  • Certificate from Wharton Executive Education

Program Overview

Today, your best opportunities for growth may not lie solely in developing new “blockbuster” products or services. They may instead be found by selling more and better to your existing best customers—and finding new customers with similar behavioral tendencies. This eight-week online program is designed to help executives from a range of functional areas and industries identify their most valuable customers and maximize their strategic value. For most companies, that ability is hard to come by.

You might have the data and the technology to track your best customers, but how can you meaningfully differentiate between them and the rest? How do you align your operations around them? And how do you create and sustain competitive advantages from such practices? This eight-week online program will help you radically rethink how you develop and implement customer-centric strategies, so you can:

  • Make an informed decision about whether, how, and when to invest in customer centricity.
  • Make the case for customer centricity in your organization.
  • Find a balance in your organization between customer-centric and product-centric efforts.
  • Decide what initial experiments your company should invest in to achieve customer centricity.
  • Choose metrics to gauge and guide ongoing customer-centric efforts.

Program Topics
Week 1

  • Product Centricity Versus Customer Centricity
  • Opportunities and Challenges of Customer Centricity

Week 2

  • Customer Equity
  • Firm Valuation
  • Customer Lifetime Value (CLV) Conceptual Overview
  • The Netflix Story

Week 3

  • Calculating Customer Lifetime Value in Contractual Settings
  • Calculating Customer Lifetime Value in Noncontractual Settings

Week 4

  • Managing Customers According to Value

Week 5

  • Customer Value Drivers
  • Customer Satisfaction
  • Customer Delight and Sacrifice
  • Customer Switching Costs
  • Customer Loyalty

Week 6

  • Customer Acquisition
  • Customer Retention

Week 7

  • Customer Development

Week 8

  • CRM Systems
  • Program Wrap-up

More Information

Program Format
This eight-week program is fully online. Each week you will be able to access a new set of video lectures and case studies. Over the course of the week you will:

  • View video lectures and read articles and case studies
  • Post your observations and comments to the discussion forum
  • Collaborate with other participants online through discussion forums and use video and web conferencing to complete assignments
  • Participate in a weekly virtual classroom session for an interactive question and answer session with Prof. Fader

You can expect to spend approximately 7 to 10 hours per week to cover the coursework. For more information, visit Wharton Executive Education.

After the Program Ends

Prof. Peter Fader will host a live virtual classroom session after the program has ended to answer questions and get updates from you on related projects at your organization.

Technical Requirements

You will need a computer with Internet access. You will also need a webcam, microphone, and speakers to attend live virtual classroom sessions. Some interactive elements may require an Adobe Flash plugin. A Connected Learning Technologist will be available by appointment to troubleshoot technical problems.

Who Attends This Program

Participants come from a range of industries, including financial services, consumer packaged goods, hospitality, and pharmaceuticals. The lessons will be global in nature and will include plenty of business-to-business examples as well as business-to-consumer ones.

Experienced upper-middle to senior level executives in marketing, finance, technology, and HR will benefit from the emphasis on leveraging existing customer information, gathering better data, and allocating resources based on customer value. Those coming from brand- or product-centric organizations will learn to strike a balance with customer centricity.

To further maximize the value and impact of Strategic Value of Customer Relationships, Wharton encourages companies to enroll cross-functional teams of executives.

Faculty Director

Peter Fader

Frances and Pei-Yuan Chia Professor, Professor of Marketing, Co-Director of the Wharton Customer Analytics Initiative

The author of Customer Centricity: What It Is, What It Isn’t and Why It Matters, Peter Fader’s expertise centers on the analysis of behavioral data to understand and forecast customer's-purchasing activities. Prof. Fader has consulted for firms in a wide range of industries, including consumer packed goods, interactive media, financial services, retailing, and pharmaceuticals. He’s also co-director of the Wharton Customer Analytics Initiative which conducts research in behavioral patterns across diverse industries.

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