Where is Product Management placed?

Once again quick one, this one is again from my experience of working as product manager in various organizations. While the role has been of product manager, responsibilities and priorities varied depending on where the product management was hooked.

Yes, this often looks like a bad joke but it remains a fact that product management is often ping-ponged between various departments of an organization. 

Product management key focus areas.....

1. as part of marketing team
1. Responsible for market success of the product
2. Largely work as strategic arm, supporting sales and marketing
3. Reports in-to VP marketing
4. Driven by sales priorities
2. as part of engineering team
1. Responsible for engineering success of the product
2. Works with engineering on release strategy
3. Reports in-to head of engineering
4. Driven by technology
3. as an independent organization
1. Product management is product owner and is responsible for both engineering and market success of the product
2. Product strategy is the primary responsibility
3. Reports in-to VP Product Management
4. Driven by market research

@mathurabhay