The Role of a Chief Marketing Officer

Topics: Marketing, Retailing, Business Pages: 5 (743 words) Published: January 28, 2014
ARJUN K.L.
Phone: 8105489777
E-mail: arjunkl777@hotmail.com

Table of Contents
1

Role of CMO

2

Retail Industry Background

3

Key Pain Points for CMO

4

Solution for Pain Points

5

Merits of Outsourcing

6

Testimony from Williams Lea Client

7

References

Chief Marketing Officer (CMO) and his Role
 C-Level Corporate Executive.
 Responsible for creating Marketing Strategy.
 Responsible for activities in an organization that have to do with creating, communicating and delivering offerings that have value to a target market at a profit.

 Increase Growth and Sales.
 Promote Brand Recognition and Help Organization gain a Competitive Advantage.

Retail Industry Background
 Companies in this sector sell a wide range of products to consumers and businesses, from food and apparel to hardware, household goods, and office supplies.  The global retail industry generates about $15 trillion in annual revenue, according to the Global Powers of Retailing report from Deloitte and STORES Media.  The US retail industry includes about 1 million outlets with combined annual revenue of about $5 trillion. Key industry drivers include interest rates, consumer spending habits, and commodity prices.

 Extreme competition and way too much of Mergers and Acquisitions  Growth and Sales of Retail Sector, in in Developed countries have reached near stagnation, however there is still a lot of potential in Emerging markets

 Retail Industry is faced with a number of challenges in the recent past, such as:  Low-Growth Consumer Markets
 Volatility in commercial real estate markets
 Not so successful in responding to shifting consumer behavior  Inability to Control costs/rising input prices
 Not being able to take full advantage of e-Commerce in emerging markets  Brand erosion, due to Private Labels and small retailers  Revenue generation through Advertisements have come down  Reduced spending from consumers on big ticket purchases.

Key Pain Points for Chief Marketing Officer (CMO)
 Data Explosion
 Social Media
 Growth of Channel and Device Choices
 Shifting Consumer Demographics
 Changing to reflect new consumer behavior
 Shaping the company’s Public profile
 Managing Complexity
 Building new marketing capabilities
 Lack of timely and useful market insights
 Time to Market
 Identify distribution issues and improve efficiencies
 Alignment between Business strategy versus IT Strategy

Solutions for Pain Points
Not all points can be addressed by the intervention of BPO due to financial constraints. However some of the go to services of BPO are: Customer Service:
1. Sales Support
2. Complaint Management
3. Account Management
4. Catalogue Management
 Retail Analystics
1. Customer Profiling and Target Marketing
2. Multi-Channel Customer Experience Optimization
3. Market Research
4. Competitor Analysis
5. Pricing Strategy Support
 Brand Awareness and Continuity
1. Social media tracking and proactive response process
2. Moderation of text and graphical content across publicly available internet forums and libraries as well as corporate intranets.

Other Services
1. Logo design, business cards
2. Company Promotional Video.
3. Creation of high quality banner ads and more graphic design.

Merits of Outsourcing
 Faster speed to market
 Specialized skills and expertise
 Lower costs compared to hiring a full team with

salaries, benefits and taxes.
 Ability to purchase customized services on a la-carte
basis.
 Established contacts with retailers and distributors

Testimony From Williams Lea Client
 In 2010, National Australia Group Europe (NAGE), signed

to 5 years contract with Williams Lea.
 Williams agreed to provide integrated end-to-end
customer solution service to NAGE.
 According to Williams Lea this service will enhance
customer experience.
 Commenting on this deal Operations Director of NAGE,
Kevin Page...
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