Exploring Disconnect and Evolution in CMO Roles and Responsibilities

CEOs and CMOs often have diverging visions on the role of marketing in a company, with 90% of CEOs believing they understand marketing's role compared to only 50% of CMOs. The C-level marketing role is evolving with new titles like Chief Growth Officer and Chief Digital Officer emerging, leading to a fragmentation of traditional marketing responsibilities across multiple roles within organizations. The traditional four Ps of marketing - product, price, place, and promotion - have been separated into different parts of the organization, necessitating an aggregator to ensure synergy among the four Ps. Surprisingly, less than 40% of Fortune 500 companies have a CMO or customer officer at the C-suite level, indicating a gap in recognizing the importance of marketing leadership.