Diploma in Customer Relationship Management

Course Syllabus

Customer Relationship Management - Credit Value: 0.5

Aims

General Aim

To provide an extensive, detailed and critical knowledge and understanding of and the cognitive skills required to establish, develop and build upon customer relationships, maximising the benefits to both the customer and the bank.

Specific Aims

• To provide details of a range of skills, techniques and practices to develop and strengthen business relationships, acknowledging that they are two way with expectations of the customer as well as the bank.
• To provide cognitive skills of critical thinking, analysis and synthesis to allow candidates to successfully review service quality and its impact upon relationships.
• To develop an ability to apply customer focused thinking by critical analysis, evaluation and synthesis of complex issues

Content

1. Define the concept, importance, benefits and principles of Customer Relationship Management (CRM) within the context of a financial services marketing strategy.
2. Describe the benefits of developing customer relationships.
3. Outline the stages involved in the relationship process and discuss how these contribute to a customer retention plan.
4. Describe how the particular characteristics of the financial services industry impact on relationship management.
5. Explain the role of customer relationship management within a customer services quality strategy.
6. Identify the ways in which firms can establish differential advantage for their services.
7. Plan and apply strategies for meeting customer requirements cost effectively using a range of delivery channels.
8. Describe the major methods that can be used for researching service quality.
9. Apply techniques for researching and understanding the needs of both business and personal customers using a range of sources.
10. Recognise and apply the GAPS model when assessing customer service levels and suggest ways of avoiding and/or dealing with service quality gaps.
11. Discuss the process and rationale of market segmentation.
12. Explain the bases of market segmentation, including types of segment, and characteristics of segments.
13. Discuss recent trends that have affected segmentation and explain how customer relationship management strategy can improve segmentation.
14. Offer guidelines for selecting the customers who should be included in a customer relationship management strategy.
15. Illustrate the importance of database management for creating accurate and useful customer profiles.
16. Anticipate and respond accordingly to the impact of the political, economic, social, technical and legal environment on customer relationship management strategies.
17. Identify the measures that can be used to encourage long-term relationships with customers.
18. Implement procedures for measuring service quality.
19. Describe the different types of benchmarking that can be undertaken.
20. Explain how to conduct a benchmarking study to identify best practice within an organisation.
21. Explain the different relationship management techniques that are used for personal and business customers.
22. Implement procedures for dealing with customer complaints.
23. List some of the communication skills that are required for dealing with customers on the telephone.
24. List some of the mechanical skills that are required for using an office telephone system.
25. Identify some of the common mistakes that employees make when speaking to customers on the telephone and suggest ways in which they can be improved.
26. Identify the broad lending criteria used by banks.
27. Issue guidelines to owners and managers who wish to submit business plans to banks.
28. Help business clients avoid some of the problems that are frequently associated with business start-up.

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Financial Services Sales Management - Credit Value: 0.5

Aims

General Aim

To provide extensive, detailed and critical knowledge and understanding of the financial services industry and the changing context in which it operates and to develop a range of skills, techniques and practices to allow students to function effectively in a sales environment within the financial services sector.

1. To provide extensive, detailed and critical knowledge and understanding of a sales interview from preparation through to closing and after sales.
2. Developing a structured approach to handling and overcoming objections through critical analysis, evaluation and synthesis of complex issues.
3. To provide an ability to apply knowledge and understanding of business and management by critical analysis, evaluation and synthesis of complex issues thus developing the ability to manage a Sales Team.
4. To engender enhanced personal development so as to be able to work with self-direction and originality and to contribute to the financial services sector and society at large.

Content

1. Outline the role of selling in the financial services sector.
2. Explain why and what type of planning is required prior to undertaking a sales interview.
3. Describe the process of identifying needs, selling benefits, overcoming objections and closing the sale.
4. Describe some of the techniques involved in each of the steps set out above.
5. Outline the main tasks involved in sales management.
6. Explain what is involved in the analysis and planning of a sales team's activity.
7. Describe the activities involved in sales forecasting and the setting of sales targets.
8. Describe the concept of motivation and explain its implications for sales management.
9. Describe the activities involved in successful recruitment.
10. Describe the activities involved and the methods available for effective training.
11. Describe the critical factors involved in measuring and rewarding sales performance.
12. Outline the procedures involved in handling complaints.

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Marketing Financial Services - Credit Value: 1.0

Aims

General Aim

To provide an extensive, detailed and critical knowledge and a range of skills, techniques and practices in marketing financial services.

1. To gain a detailed understanding of the marketing role in financial services.
2. To evaluate the importance of understanding both customer needs and market segmentation.
3. To gain an understanding of how to critically analyse and synthesise information and formulate marketing plans that align with overall business plans, customer trading cycles etc.
4. To develop Quantitative skills including data analysis, interpretation and extrapolation.
5. To critically review the practical application of marketing plans in a retail environment within the bank and analyse how this influences the decision making process of both the bank and its customers.

Content

1. Explain and describe the concept and the practice of marketing.
2. Outline the nature and evolution of marketing in the banking sector.
3. Differentiate between the marketing of products and the marketing of services.
4. Explain how an organisation markets its products or services.
5. Outline the major elements of the environments which influence the marketing activities of banks.
6. Explain why an understanding of customer behaviour is essential for effective marketing.
7. Describe the main stages of the consumer buying decision process.
8. Describe the components of the service encounter using the Servuction System model.
9. Compare and contrast organisational buying behaviour and consumer buying behaviour.
10. Describe the processes involved in market segmentation and target marketing.
11. Describe the main activities involved in relationship marketing.
12. Describe the components of a marketing information system.
13. Explain why and how market research is conducted by organisations.
14. Differentiate between marketing planning and corporate planning.
15. Undertake a situation analysis, using the technique of defining and strengths, weaknesses, opportunities and threats for a given situation.
16. Outline the contents of a branch marketing plan.
17. Explain the need to market benefits rather than product/service features.
18. Describe and explain the concepts of product life cycle, product range portfolio and new product development.
19. Outline the main methods of communication and in particular the management of the promotional mix.
20. Describe the role of price and the intricacies of price setting.
21. Describe the choices required in relation to decisions about distribution channels.
22. Describe the key elements that need to be considered when managing the bank’s service personnel.
23. Explain why physical evidence needs to be seen as an integral part of the marketing mix.
24. Describe the elements of the bank's processes that need to be managed if customer satisfaction is to be maintained.
25. Explain the need for differentiation in the marketing of financial services.
26. Outline the elements of retailing which are relevant to the banking environment.
27. Explain the concept of service quality and in particular the aspects of technical and functional quality.
28. Describe and explain the role and importance of internal marketing.
29. Describe the main considerations when undertaking branch promotions.
30. Describe the differences between domestic and international marketing and explain the reasons why banks attempt to expand into international markets.
31. Outline the criteria and approaches used to identify the most attractive countries to enter.
32. Describe the options available to a bank in terms of market entry.
33. Explain the options available in terms of developing and controlling an international marketing mix.

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Retail Banking - Credit Value: 1.0

Aims

General Aim

To provide the student with an extensive, detailed and critical knowledge of the products and practices that exist within the ever-changing retail banking environment.

Specific Aims

1. To provide the student with an extensive, detailed and critical knowledge and understanding of the legal aspects of the banker - customer relationship.
2. To give an ability to apply knowledge and understanding of business and management by critical analysis, evaluation and synthesis of complex issues within the context of the retail banking environment.
3. To give the student a range of skills, techniques and practices in credit at a professional level
4. To develop the cognitive skills of critical thinking, analysis and synthesis utilised when considering the procedures for taking the range of securities for advances.
5. To give an extensive, detailed and critical knowledge and understanding of diligence and bankruptcy.

Content

1. Money Transmission

Forms of Money Transmission
The Clearing Process

2. Savings and Investment

The Difference between Savings and Investment
Savings and Investment Products
Liquidity Management

3. Other Services

Safe Custody
Insurance and Assurance
Share Dealing Services and Advice
Unit Trusts
Travel Services
The Banking Code

4. Banker & Customer

How the Banker-Customer Relationship is Established
The Rights and Duties of a Banker and of a Customer
Bankers' Lien
Clayton's Case
Death of a Customer
Trusts
Testate and Intestate Succession
Electronic Funds Transfer

5. Principles of Lending

The Canons of Lending
Other Considerations

6. Lending Products

Overdrafts
Personal loans
Revolving credit
Credit cards
House purchase loans
Capital release loans
Bridging loans
Term loans
Hire purchase and leasing
Self build loans

7. Mortgage Lending

Background to Mortgage Lending
Types of Mortgage

8. Agency & Contract

Agency
Contract

9. Securities for Advances

Introduction
Standard Securities
Guarantees
Life Policies
Stocks & Shares
Miscellaneous Securities

10. Diligence & Bankruptcy

Types of Diligence
Apparent Insolvency & its Effects
Sequestration

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Business Banking - Core A Subject - Credit Value: 1.0

Aims

General Aim

To provide an extensive, detailed and critical knowledge and understanding of the business banking industry and to develop a range of business banking skills, techniques and practices at a professional level.

Specific Aims

To provide a basic understanding of the components of Business Banking.

1. To develop a critical understanding of the canons of lending .
2. To allow bankers to exercise a range of business banking lending skills, techniques and practices.
3. To interpret and assess business accounts by critical analysis, evaluation and synthesis of complex issues.
4. To review the ongoing interface and communication with customers and their spectrum of reactions to the principles of business banking.
5. To develop effective problem solving and decision making using appropriate quantitative and qualitative skills including identifying, formulating and solving business problems and assessing and managing risk in a business banking context.

Content

1. The Banker Customer Relationship

Explain the basis of the banker-customer relationship which gives rise to contractual rights and obligations.
Analyse the rights and duties of banker and customer and explain the consequences of any breach of them.

2. The Canons of Lending

People / Character
Purpose / Amount
Repayment Capability / Terms
Security
Remuneration / Margin

3. The Balance Sheet and its Ratios

The Balance Sheet - a summary.
Ratio Analysis and Interpretation.

4. Security for Advances

Types of Security
Margin in the security value.

5. Assessing Customers’ Needs

Customers' Needs
Alternative Methods of Borrowing
Examples of lending to specific sectors e.g. farming, property development / builders.

6. Lending in Foreign Business Transactions

Types of lending in the foreign business sector.

7. Assessing / Control Advances

Monitoring Cash Flow Reports / Projections

8. When Things Go Wrong - Types of Problems

Administration / Receivership
Diligence and Insolvency

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