by Marketing involves various activities and processes aimed at delivering products and services to potential buyers.
It includes promotion, advertising, pricing, and other strategies that help attract customers in the market or specific segments to the company’s goods.
Marketing managers oversee the marketing efforts of the company and need specific skills and qualifications to do so.
Article Table of Contents
What Does a Marketing Manager Do
Marketing managers play the roles of analysts, strategists, planners, and leaders.
They should be well-aware of the conditions in the industry and economy, consult with other employees and guide the marketing and selling activities.
Marketing managers need efficient communication and creative skills.
Responsibilities
- Develop and evaluate the marketing strategy, including pricing and distribution of goods and services.
- Implement, supervise, and direct marketing guidelines and activities.
- Analyze the market, industry, and economic trends, predict sales and monitor economic and business development.
- Initiate, oversee, and analyze the studies of the market.
- Prepare lists and descriptions of goods and services of the company.
- Define potential markets for services and goods of the company.
- Monitor hiring, termination, development, and training of the marketing and sales staff.
- Coordinate promotion, product, and advertising managers for marketing purposes.
- Take part in or guide trade shows and promotional events.
- Get advice from buyers on such matters as customer preferences for goods or services, or features and prices, as well as eco-friendly or sustainable products.
Essential Skills
Analytical:
Marketing managers should create and examine strategies.
So they need to analyze the data and information of the market, industry, economy, and demographic trends.
With relevant information and analysis, marketing managers can make decisions concerning marketing approaches, pricing, and other aspects of the marketing program.
Creativity:
To come up with new and innovative ideas for attracting and persuading customers, marketing managers need creative skills.
Also, marketing managers should take into consideration that words, graphics, and descriptions attract the attention of potential customers.
Communication:
Marketing managers communicate to staff and managers of other departments, such as production and sales.
They should be able to listen to advice, feedback, and information from these employees to come up with successful marketing strategies.
With excellent communication skills, marketing managers can also persuade customers and other management and staff of the company.
How to Become a Marketing Manager
Marketing managers need a combination of education and experience in marketing, sales, and purchasing.
Candidate should demonstrate the knowledge of computers and various software.
Training and Qualifications
Marketing managers usually need a minimum of a Bachelor’s degree.
According to O*NET, about 56% hold a bachelor’s degree while 24% have a master’s degree.
The typical majors of marketing managers include economics, business administration, and law, computer science, math, and statistics.
With courses in business law, marketing managers can forecast consumer law issues such as accuracy of representations, pricing, or warranties.
By taking computer classes, managers get prepared to create wordings, designs, and methods to generate sales and traffic.
Marketing managers employed in securities firms are securities professionals.
To acquire such a position, one needs the Financial Industry Regulatory Authority-issued certification (FINRA).
Experience
Marketing managers need experience in marketing or sales-related fields.
According to Rasmussen College, about 13,000 job openings were available for the applicants with two or fewer years of experience between July 2013 and July 2014.
Marketing managers with 2 to 5 years of experience could acquire some of 62,000 positions.
Marketing managers usually have work history as sales reps, marketing analysts, marketing account reps, or purchasing and buying agents.
Those who look for work with online retailers need experience with e-commerce, PPC marketing, social media, emails, and other online marketing means.
Working Hours
As O*NET reports, about eight out of ten marketing managers work more than 40 hours per week.
Working hours can take place in the evenings and weekends, especially with approaching deadlines for campaigns.
They may also need to travel a lot and meet with clients, fellow employees, managers, or media representatives in various locations.
Career Outlook
The BLS predicts the employment rate of marketing managers to grow by 9%, which means 18,200 more openings by 2024.
However, in the area of e-commerce and mail-order establishments, the employment rate can reach 49%.
Other areas where the percentage is high include general merchandise stores (27.9%), securities, financial and related investment activities (22.1%), home healthcare services (60.47%).
Marketing managers play key roles in the effort of the company to generate revenue.
So, they are more likely to keep jobs in times of downsizing than other managers.
According to the BLS, marketing managers make $140,660 on average.
Managers in securities and commodities exchange industry make the most, $207,770.
The top 10% can make as much as $187,200, and one out of four managers have salaries over $175,060.
Conclusion
Marketing managers have strong job security since they play a key role in generating revenue for the companies.
There are quite high prospects for managers among online retailers and other e-commerce professionals.
Depending on the industry, marketing managers can make more than $200,000 per year.
Marketing managers need communication, analytical, and creative skills to develop and implement plans to attract customers.
Education and experience in sales, purchasing, and online marketing can help managers get better jobs.