Rethinking Marketing Essay

Companies today have technology that enables them to interact nowadays with customers. Firms essential make use of this technology to reduce on customer needs and develop into customer-oriented companies rather than product oriented ones. In recite to facilitate this change a change in the fellowships strategies as well as structure be induces necessary. This change includes reinventing the organizations marketing part entirely. One such change in strategy involves customer cultivation. Companies must move from being traditional companies to customer cultivating companies. A customer cultivating company is one that focuses on individual or small groups of customers as contradictory to a traditional company that focuses on the mass. Many firms today ar trying to make this strategy call on. For example IBM, Tesco and American express.Next we come to change in structure, which involves reorganizing the marketing department. * Firstly CMOs must be replaced by CCOs (chief custom er officer). The CCOs job is to plan and implement the firms customer affinity strategy and supervise all customer-facing functions. * Secondly under the CCO will work the customer managers who identify the customers needs and direct distinguish mangers to fulfill those needs. * Customer- facing functions some functions such as the customer family relationship management that forms a part of the IT department must be make a part of the customer department. CRM (a tool for gauging customer needs and behavior) contains the information needed to implement customer cultivation strategy and hence essentially forms a part of the customer department.* Market question market research changes to become more customer focused as well. * Research and ontogeny marketing and R&D must be integrated so that the customer itself can be brought into the process of designing products. * Customer service the customer department must handle this service to ensure twain quality and construction l ong-term relationships with customers.With change in strategy on that point comes a need to change the measures that gauge the effectiveness of the strategy as well. These changes in measures are as follows* Product favorableness to customer profitability* Current sales to customer lifetime value* Brand law to customer law* And lastly market share to customer equity share.All in all the article considers reinventing the strategies and structure of companies to make them focus on building lasting customer relations rather that building brands.