Franchise has been defined as the permitted right to a group of people or a person to promote the goods and/or services of a given company or organization. This permitted right is issued within certain geographical area. Currently, some of the well known franchises include the domino’s pizza and UPS store.
There is a necessity to understand the way franchising operates, the amount is involved and the expectations of the company from you. Thereafter, one is free to buy a franchise system. As a franchisee, there are some rules and regulations that are expected of you to follow. These rules are set by the franchisor. Normally, there is also the royalty fee that the franchisee is expected to pay for the ongoing franchise.
This article makes an exploration into the gradual change in decision making and budgeting command from the chief information officers to the chief marketing officers. It therefore gives highlights on why there is need for the marketing officers to work together with IT in order to realize goals of the company.
In this article, Morphy says that nowadays the CMOs should be fully in-charge of the expenditure in IT marketing. He says that this is the time that the CMOs should not assume. He maintains that this era is the best for the CMOs to use technology to know what is in the minds of their customers. The time for the CMOs to make technology help them realize what trends are gone and which ones are creeping in.
According to this article, there are evidences that this shift is already taking place. Example is seen from the reporting of the major sales of software are done by the marketing and IT departments. That the restrictions in spending that were initially in between these departments are fading away.
The article gives an example of salesforce.com which ranks highly in marketing software. The reason behind the success is that after the company realized marketing goes hand in hand with technology, it decided to merge the two departments in order to do away with blame games between the two.
In addition to this, it is noble to accept that we are in a new world and the few who have been brave enough to give it a try are sure of their prowess to steer it. It gives an example from IBM report which shows how disturbed the marketers are today. The report also pointed out that marketers are also under severe pressure to present substantial returns of the money spent on them.
In order for any marketer to adapt to the fast moving world today, he or she should be ready to accept the changes occurring in the digital generation. He or she should be digital in to keep the pace lest he is rendered jobless for not being productive.
Secondly, it is also prudent to point out that franchising is not for all businessmen; it needs people who are sharp and can foresee the upcoming trends and those that are in their death-beds. In all these, technology is pivotal and thus franchising requires being accommodative to the technological changes.
Erika Morphy. CMOs and CIOs: Who’s Driving the Digital Marketing Bus? 4/01/2013