Expressing similar views, Sapient India Managing Director Rajdeep Endow said to realize $ 37 billion CMO opportunity, companies need to rethink and restructure their priorities and perspectives.

"First, they need to get design and experienced design capabilities. Second, there is a need for experienced technology innovations like mobile apps, augmented reality, etc and third, they need to build a reputation as a creative destination," he added.

"Industry is obsessed with scale. Also there is a need to create a culture of speed and innovation because a job done is better than perfect. Indian firms values perfection over speed does not appeal to the marketer," he said.

Research firm Offshore Insights CEO and Research Director Sudin Apte said Indian technology industry is not aligned with the marketer’s mindset and it does not enjoy CMO relationships.
 

"This needs to change if we want to realize this opportunity. We need to equip customer-facing staff to interact with marketers, he added.

The study was conducted by Offshore Insights. It took the views of CMOs/Senior marketers from North America and Europe, technology providers and industry experts between October and December last year.

Read Also: Vodafone Ties-Up With Disney In India To Launch Games, Apps and Amazon Follows Google's Suit, Cuts Cloud Computing Prices