NAME: ASMA IDREES

STUDENT- ID: 20181-24084

TOPIC: ASSIGNMENT 1
COURSE: MARKETING MANAGEMENT
COURSE CODE: M-6221
PROGRAM: BBA (H)
SUBMITTED TO: Dr. MUHAMMAD ADNAN BASHIR
DATED: 29 – JANUARY – 2020
Q1: What is the difference between a traditional company and
a customer cultivating company?
ANSWER: The traditional companies are product centric whereas, customer cultivating
companies are customer centric. Traditional companies rely totally on mass
communication whereas customer cultivating companies prefer direct communication
with the customers. In traditional companies there is a CMO that is Chief Marketing
Officer whereas in the customer cultivating companies there will be replacement of
CMO with CCO that is Chief Customer Officer. In traditional companies, they are not
closely monitoring customer needs whereas there is key accounts (manager) that
recognizes the needs of customers and makes sure that things are right.
Q2: What is the role of CCO in the organization/customer
department?
ANSWER: CCO is responsible for designing and executing the firm’s customer
relationship strategy and overseeing all customer-facing functions. A CCO promotes
customer centric culture and removes obstacles to the flow of customer information
throughout the organization. The CCO is accountable for increasing the profitability of
the firm’s customers. The CCO is responsible for eliminating counterproductive mind-
sets, create incentives, gain customer insights and direct the firm towards customer
centric culture.
Q3: What does a customer manager do in the new customer
department?
ANSWER: In the new customer department, customer and segment managers identify
customers’ product needs. Customer managers direct brand managers to supply those
products which fulfil customers needs. Customer managers engage individual customers
or narrow segments in two-way communications, building long-term relationships by
promoting whichever of the company’s products the customer would value most at any
given time.
Q4: What are the three most important consideration points
related to market research?
ANSWER: The three most important consideration points related to market research
are:
1. First, the internal users of market research extend beyond the marketing
department to all areas of the organization that touch customers- including
finance and distribution.
2. Second, the scope of analysis shifts from an aggregate view to an individual view
of customer activities and value.
3. Third, market research shifts its attention to acquiring the customer input that
will drive improvements in customer-focused metrics such as CLV and customer
equity.
Q5: What problem authors are highlighting with the
conventional product/brand management system?
ANSWER: The 4 problems which author has highlighted with the conventional
product/brand management system are:
1. First, companies should focus less on product profitability and more on customer
profitability.
2. Second, companies need to pay less attention to current sales and more to CLV.
3. Third, companies need to shift their focus from brand equity to customer equity.
4. Fourth, companies need to pay less attention to current market share and more
attention to customer equity share.