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Roles of CMO
Challenges Facing CMOS Today
Chief Marketing Officers have been some of the most fundamental pillars in any organization. While their roles have varied fundamental differences across organizations, it remains that their duties have a bearing on the profitability of organizations. However, CMOs all over the world have been facing numerous challenges. The main challenge that has been pointed out by many CMOs revolves around the increased complexity of the business world. This has mainly resulted from the fact that the world become a global village, where everything is interconnected in one way or the other (Court 28). Other main challenges that face the CMOs include increased availability of data in the market. This means that consumers have a lot data regarding what they want. This makes it harder for companies to market their products as the consumers already have this information about the companies’ products. Another challenge that is facing the CMOs is the presence of social media, which have overtaken the traditional methods of marketing. Other challenges that have also given headache to CMOs include increased channels of marketing as well as the changing consumer behaviors.
How has the role of CMOs Changed?
The role of chief marketing officers has changed from focusing mainly on consumers to focusing on a broad group of stakeholders. Apart from being involved in marketing and sales operations of the company, the chief marketing officers are in modern companies involved in innovating and research of companies (Day and Malcolm 34). The role of CMOS has also changed to include that of leading other aspects of corporate strategies. The CMOs are also being involved helping the company change from focusing on driving demand, to creating customers values by developing what the various customers need.
What should be done to prepare for market changes?
It is evident that the market environment is changing fast. It is becoming clear that many companies have been forced by these changes to adopt new strategies, to ensure that they remain competitive. Some of the things that can be done to safeguard the readiness of a company to changes include, changing their marketing strategies. Companies have to ensure that they adopt the latest methods of marketing, so that they can be able to attract consumers. In addition, the companies have to integrate technology into their marketing systems (Jaworski 211). This will not only make it easy for them to market, but they will be able to reach many people all over the world.
How to develop organizations to understand new markets
One can take various approaches to ensure that their team has a full understanding of new markets. Some of these include, exercising strategic leadership. This has been done by ensuring that all the team members build an effective relationship with the customers. This ensures that the changes do not affect the company much. In addition, to ensure that the team members understand the changes in the market place is by providing them with the relevant information relating to the company target market (Sparks 101). This also includes the customer perceptions of the company as well as the competencies of our competitors in the market place. Another approach that can be adopted to ensure that the team understands the various changes is by making effective use of the new technology. This en.............
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