Every day consumers hand over their private data to companies. No matter if we think about loyalty programs, website cookies and tracing, shopping histories or social media interactions, we leave a large data footprint that is used and often leveraged by companies. Since this data can be misuser and hold against consumers, more and more customers become anxious about what information they provide to companies and what companies may do with this information. At MCM our very own customer management and retail expert Prof. Dr. Manfred Krafft focuses on the many issues arising from this cross-road.
In his ongoing research the worldwide well-respected sales force expert develops guidance for companies how to design and develop data exchange models with customers that are not only perceived to be fair by all involved parties, but also deliver balanced benefits for customers and companies.
Together with other top level marketing scientists from the US, India, China, and New Zealand he just published a key-framework in the prestigious Journal of Retailing. With their model explain how consumers perceive the terms of the data exchange, and highlights how these terms affect important firm outcomes.
Professor Krafft shares his latest insights about customer management and data privacy in courses such as Customer Relationship Management and Direct Marketing, Consumer Behavior and Sales Management.
Curious to learn what it takes to successfully manage customers in a data driven world? Check out Professor Krafft’s latest publication here or directly apply for your place in our Master of Business program with its unique major and minor in Marketing option.