Introduction:
In the field of management, there are different levels of hierarchy in an organization. Each level has a different set of responsibilities and roles to play. This question is related to the identification of the position of Chief Marketing Officer and Managing Director in an organization.

Answer:
The correct answer to this question is option 'B', which is Top Management. Let us discuss in detail about the different levels of management and the position of Chief Marketing Officer and Managing Director in an organization.

Levels of Management:
There are three levels of management in an organization, which are as follows:

1. Top Management: This level of management is responsible for making strategic decisions and policies for the organization. The top management consists of the CEO, Managing Director, Board of Directors, etc.

2. Middle Management: This level of management is responsible for implementing the policies and plans made by the top management. The middle management includes department heads, branch managers, etc.

3. Operational Management: This level of management is responsible for the day-to-day operations of the organization. The operational management includes supervisors, team leaders, etc.

Position of Chief Marketing Officer and Managing Director:
The Chief Marketing Officer (CMO) is a senior-level executive who is responsible for the marketing activities of the organization. The CMO reports directly to the CEO or Managing Director. The CMO is responsible for creating and implementing marketing strategies that will help the organization achieve its goals.

The Managing Director (MD) is the highest-ranking executive in the organization. The MD is responsible for the overall performance of the organization and reports to the Board of Directors. The MD is responsible for making strategic decisions and policies for the organization.

Conclusion:
In conclusion, the position of Chief Marketing Officer and Managing Director belongs to the Top Management level in an organization. The Top Management is responsible for making strategic decisions and policies for the organization. The Chief Marketing Officer is responsible for the marketing activities of the organization, while the Managing Director is responsible for the overall performance of the organization.