In common with other corporate functions, the role of marketing and the chief marketing officer (CMO) is changing. Recent lean times appear to have left behind an enduring commitment to holding down costs and to requiring each function to demonstrate return on investment. Not only is marketing now expected to come up with metrics to prove ROI, it is expected to help drive growth, and to step up its level of innovation. Failure to ace these tests would lead to the marginalization of marketing, according to many observers.

In a growing number of companies, marketing has already lost respect and influence, if we are to believe most commentators. (A few strongly disagree.) In this article, we survey the causes of this trend, as well as various proposed solutions—most of which involve major alterations to the role of marketing and the CMO.

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