Final answer:
As a new CMO, I would assess the firm's current marketing strategies against concepts from our unit and evaluate performance metrics. Depending on this analysis, strategies might be maintained for consistency or altered to align with company goals and market trends, focusing on digital marketing and sustainability.
Step-by-step explanation:
If I were to take on the role of a Chief Marketing Officer (CMO) for a firm after finding an article about the company's marketing efforts in The Wall Street Journal, the first step would be to analyze the current marketing strategies in place. One would need to assess whether these strategies align with the marketing concepts and terminology discussed in our unit lectures and textbook. For example, if the article discussed innovative digital marketing practices or a shift towards sustainability in marketing, it would be crucial to understand how these areas fit within the broader marketing mix and target market strategies.
Upon assuming the role of CMO, it's important to evaluate the marketing environment and performance metrics to make informed decisions. If the previous strategies were yielding positive results, it may be wise to "stay the course" while still looking for areas of improvement or expanding upon successful tactics. However, if there's evidence of stagnation or misalignment with the company's goals and market trends, then a shift in marketing strategy may be necessary. This could involve rebranding, exploring new marketing channels, or adjusting the company's product positioning.
In summary, the decision to maintain or adjust the marketing strategy would come down to a thorough analysis of the company's current market position, the competitive landscape, and emerging trends in consumer behavior. Introducing changes would aim to enhance the brand's relevance, foster customer engagement, and drive business growth, all while ensuring that any new tactics resonate with the core values and objectives of the company.