Essay About Brand Managers And Individual Products

Companies Have Powerful Technologies for Understanding and Interacting with Customers
Companies have powerful technologies
for understanding and interacting with
customers, yet most still depend on mass
media marketing to drive impersonal
transactions.
To compete, companies must shift from
pushing individual products to building
long-term customer relationships.
The marketing department must be
reinvented as a “customer department”
that replaces the CMO with a chief
customer officer, makes product and
brand managers subservient to customer
managers, and oversees customer-focused
functions including R&D, customer service,
market research, and CRM.
These changes shift the firm’s focus
from product profitability to customer
profitability, as measured by metrics such
as customer lifetime value and customer
equity. This organizational transformation
will uproot entrenched interests and so
must be driven from the top.Companies have powerful technologies
for understanding and interacting with
customers, yet most still depend on mass
media marketing to drive impersonal
transactions.
To compete, companies must shift from
pushing individual products to building
long-term customer relationships.
The marketing department must be
reinvented as a “customer department”
that replaces the CMO with a chief
customer officer, makes product and
brand managers subservient to customer
managers, and oversees customer-focused
functions including R&D, customer service,
market research, and CRM.
These changes shift the firm’s focus
from product profitability to customer
profitability,