Few CMOs Think They're Effectively Tracking Social Media, Word-of-Mouth†

Survey: Marketing Execs, Not Other Departments, Should Be in Charge of Monitoring Customers' Conversations

Advertising Age, January 26, 2009 — Who in corporate America owns the consumer relationship, the customer experience, word-of-mouth or social media? The answer appears to be nobody.

For all the talk about listening to consumers, few marketers think their companies are doing so effectively and even fewer are monitoring what people say about their brands in social media, according to a new survey by the CMO Council.

Home Depot Learns to Go Local†

Uniform Approach Didn't Cut It; Unsold Mowers in Arizona, Too Few Power Tools Out West

Wall Street Journal, October 7, 2008 — Shortly after taking command of Home Depot Inc. in early 2007, Frank Blake found a pyramid of riding lawn mowers outside a store in Arizona, where lush lawns are uncommon. It turned out the store had sold only one such mower in two years. Then, he learned that the retailer was chronically short of Makita power tools on the West Coast, where they sell particularly well.

Mr. Blake ordered changes in Home Depot's purchasing system, which had favored national uniformity at the expense of local customer preferences... The shift in Home Depot's buying patterns highlights a tricky problem for national retailers: balancing local demand with national efficiency. In Home Depot's case, the new, more targeted buying has helped lower merchandise costs by reducing... continue reading

Beyond the 4Ps: The 5Ts of Marketing Operations

Marketing Profs, September 25, 2007 — CMOs of global companies are now confronted with unparalleled challenges—and opportunities