A recent discussion held at the World Economic Forum in Davos brought attention to a crisis in perception: young people no longer consider marketing to be a viable career choice. The panel, titled “Will AI Crown the CMO Chief of Chiefs”, featured CMOs from renowned firms such as Mastercard, Boston Consulting, and Infosys. The discussion revolved around the potential of AI in elevating the role of CMOs, but expressed concern over the diminishing interest in marketing as a profession.
Raja Rajamannar, Mastercard’s CMO, shared an upsetting observation: a survey conducted by the Association of National Advertisers in the US showed that students now rank marketing below accounting and even nursing as a career choice. The perception of marketing as a deceptive profession akin to used car salesmanship seems to be a major factor in its declining appeal.
Sumit Virmani, CMO of Infosys, identified another issue: a fundamental disconnect at colleges over what marketing involves. Instead of recognizing the role’s potential to drive profit, growth, and business progression, students perceive marketing as being all about glamour and glitz.
Jessica Apotheker, Boston Consulting’s CMO suggested an alternative positioning for the profession: an intellectually stimulating career, requiring a broad skill set and promising significant impact on business. With the advent of AI, marketing now presents immense opportunities for marketers to showcase their value in the boardroom.
Highlighting the irony of the situation, Rajamannar further stated, “It’s extremely ironic, but marketers have been lousy at marketing ‘marketing’ as a function for many years.” It was suggested that CMOs could escalate to CEO positions by focusing on performance, accepting responsibility for growth, and leveraging creativity within a competitive landscape.
The panel concluded on the note that if CMOs stood up and claimed their value as the voice of the customer in companies, the chances of seizing the opportunity to grow beyond their role in marketing would increase.
Source: Marketing not perceived as viable career choice, say CMOs in Davos discussion.
