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As the way people shop and consume media continues to change, so does the role of chief marketing officer.
Case in point: Just 40% of top marketers at Fortune 500 companies go by “chief marketing officer.” Some now have terms such as “growth,” “strategy,” or “communications” in their title alongside “marketing.” Others don’t use “marketing” at all.
Additional figures show around one-third of the Fortune 500 don’t even have a traditional C-suite marketing leader. Instead, the job is spread across multiple regions and departments.
“Marketing’s role is blurring,” said Kelsey Robinson, a senior partner at consulting firm McKinsey & Company. “Responsibilities are not always well-defined.”
Although a custom approach to marketing can serve some companies competing in certain sectors, it can also lead to confusion and frustration.