There is a shift in the corporate culture as far the customer centric nature of management of marketing efforts are concerned. Designing, pricing, positioning, and inducting a product into the market is now taking more cues from the cutomer preferrences than the organisational demands. Customer centric products are meeting with more success than other products. Identification of the right need is really important in product designing.

1. CMO V/s CCO
I have
Some Good
Sad News
For YOU
babuappat@gmail.com

2. The CMO is Dead
The Chief
Marketing Officer
is dead

3. It's a Sad News. Isn't it?
How can it be
GOOD
sad News?

4. The Chief Marketing Officer is dead
Fortunately,
I'm talking about the CMO
position
rather than a
particular person

5. But How?
The decline in the CMO's
influence is alarming, especially
in companies that claim to put
the customer first
but in reality are product-driven.

6. True, some companies have
marketing in their DNA
Especially firms that had a
visionary founder with a great
understanding of the customer.
Examples include Ingvar
Kamprad at IKEA or the late
Steve Jobs at Apple.

7. But these are exceptions
The norm these days is that the CEO sets
the overall strategy, the R&D and
innovation teams design the product, and
the CFO determines pricing and
departmental budgets. No wonder some
CMOs feel unloved and are considering a
career change

8. The Four Reasons
The CMO position
is dying for
four reasons:

9. 1] Most CMOs are not really immersed
in marketing activities.
By this I mean understanding,
creating and delivering value to the
customer. Too many CMOs focus on
PR and communications rather than
products or pricing, so as not to
invade the space of the Chief
Innovation Officer or the CFO

10. 2] CFOs have become more powerful
because of tough trading conditions
and short-term pressure from
financial markets. The CFO is also
winning the race to the very top—
most CEOs now have a finance or
engineering background, and few
come from sales and marketing

11. 3] Marketing impact is often hard to measure.
Marketing is more art than science. It's
hard to know whether all those millions
of dollars spent have led to an increase
in real sales. And when a downturn
comes, the marketing budget is often
the first to be cut

12. 4] Nobody has a clear idea of what marketing is.
Ask 20 senior managers in any
company what marketing is, and
you’ll get 20 different answers.
By contrast, most people would
agree on a definition of finance or
production.

13. To Reclaim the Lost Power
Instead of feeling sorry for
themselves, CMOs can take
the following practical steps
to reclaim some of their lost
power:

14. 1] Get rid of the CMO title, because nobody
understands it.
Create the new title of CCO – Chief
Customer Officer. This person must be
the voice of the customer in the
organization, taking views and
messages from the market and
spreading them internally.

15. CCO
More and more companies have a CCO
or a senior executive with a similar title,
from salesforce.com to the Washington
Post.

16. 2] Get the CEO to be the CMO.
Chief executives can drive the
customer-centricity agenda better than
anyone else, because they can shape a
company's culture and drive the
recruitment of customer-oriented
people.

17. It's an everybody's Job
Having the CEO as CMO also sends a
strong message throughout the
organization that the customer is front
and center and that marketing is
everybody's job.

18. 3] Get the CFO on board too.
Doing this requires taking some of
the fuzziness out of marketing.
CCOs need to be financially literate
and produce hard numbers that
show the return on investment from
marketing.

19. 4] Use customer knowledge to build influence.
With backing from the big two in the C-
suite, CCOs can use their customer
knowledge to influence discussions of
product design and pricing, and make a
company's offerings more sensitive to
the market.

20. The Two Key Functions
Back in the 1950s, the management
guru Peter Drucker wrote that a
company has only two key functions –
marketing and innovation–and that all
other functions should support these.

21. Customer Oriented Trend
Sadly, paying attention to the
customer is less and less
common these days. The CCO
can be the first step toward
reversing this trend.

22. More Customer Centric
So – goodbye to the CMO,
hello to the CCO.

23. THANK YOU SO MUCH
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babuappat@gmail.com
http://www.industrialmanagement.webs.com/