As long as finance focuses on short-term profit, it will oppose major investments designed to build satisfied, loyal customers. Which of the following steps that a marketing CEO can take to create a market- and customer-focused company can help a CEO overcome this challenge?

Question

Quizplus · Accepted Answer

Changing the company's reward measurement and system can shift the focus from short-term profit to long-term customer satisfaction and loyalty. By incentivizing employees and rewarding them for achieving customer-centric goals, the company can create a culture that values customer satisfaction over short-term gains. Empowering employees, seeking outside help, installing a marketing planning system, and developing in-house marketing training programs can all be effective steps towards creating a market- and customer-focused company, but they may not specifically address the challenge of finance prioritizing short-term profit.

As Long as Finance Focuses on Short-Term Profit, It Will