The role and the importance of marketing functions have changed dramatically over the years.
In the past, marketing was working on short-term calibration and leading changes within commercial sales, operations and other cross-functional teams.
Today, marketing is no longer a support function aiding product and sales teams.
“Marketing is now an independent profit centre and responsible for generating revenue,” said Deepika Warrier, chief marketing officer of Diageo India, at the virtual Mint Marketing Summit.
Marketing drives growth
The chief marketing officer (CMO) or the chief growth officer now wields greater power within the organisation’s boardroom.
“There was a time when marketers...