What is a CMO
CMO is a term that is widely used in the corporate world. A CMO refers to a Chief Marketing Officer. It is an executive post in various companies. It comes with rich rewards, but with a lot of high responsibilities, though. A CMO has responsibilities of a range of marketing activities that the organization deals with. On many occasions, the CMO is directly answerable to the Chief Executive Officer (CEO).A CMO has to look after marketing communications which may also involve advertising as well as promotion, sales management, distribution of channel management and product development. At times, a CMO also need to share the responsibilities of the pricing and the market research.
The job of a CMO is a highly challenging one. Some people even term it as ‘the most dangerous job in the businesses. Chief Marketing Officers need to face a variety of specialized disciplines where they have to be knowledgeable. They have to take into account the market study and the possible trends those may show up.As the job is challenging, a CMO may evolve his own style of handling his workload. Apart from showing positive results, he has the challenge of leading his subordinates. The reason is that a CMO has to be dependent on the resources that are available at his discretion.More challenges lie for a CMO in the form of risk mitigation, augmentation of growth and finally cost reduction. It is a three-pronged responsibility for him. Due to these factors, the job of a CMO is the most risky of all.
A CMO for a company does not complete even two and a half years in office, according to the 2008 study done by Forbes.Finding practical solutions to the problems is the most difficult thing a CMO faces in his career. The volatile market adds to the worries. When a CMO makes his decision and until it is executed to its fullest, till then the market scenario might have changed suddenly. So fixing a practical solution and implementing it, is the toughest job for a CMO.More often than not, the status quo challenges the CMOs. One can misunderstand the deviations without monetary results as incompetence and mistaken thinking.
A CMO is a person who has to bear the brunt of the wrong or unexpected results for the company. No doubt, no CMO will ever design a failure plan, but yet there are many entrepreneurs who are ready to take up the job of a CMO.The job responsibilities of a CMO may vary from an organization to another. The responsibilities increase if the organization the CMO is working has a critical or complex hierarchy. In the Asian countries, mainly in India, the job of a CMO is not a much high intensity job unlike his counterparts in the western world. The salary of a CMO is quite lucrative. So, a lot of marketing executives aim to grab the post of CMO in the future. If you love taking challenges then you can give a try for this post.