This chapter first traces the development of the marketing function over the past fifty years. Then, following a survey of current and emerging developments in global markets, the authors identify three key roles for the contemporary CMO: technical specialist, customer advocate and strategic contributor. The tasks facing the CMO in these roles are examined in detail. To round out this exploration, the chapter then sets out the important factors in the CMO's relationships with other key CXOs. In conclusion, the authors look ahead and suggest that the effective future CMO will continue to focus on differentiation of products, building and exploiting brands, and getting the company's culture, perhaps even more critically than the structure, to express the value of responsiveness to the customer.

The role of the chief marketing officer

In many product-driven companies, the marketing strategy is the company's strategy. It is the job of the chief marketing officer (CMO) to keep the company on a growth path, delivering customer value and creating shareholder wealth.

Corporate growth is under constant threat. The tectonic shifts that erode competitive advantages are similar across industries: commoditization, decreasing loyalty rates and power shifting towards distribution partners. There is a never-ending drive to cut costs, increase sales and introduce innovative products.