Career Profile: Marketing Manager
Why Is Marketing Management a Job of Tomorrow?
Marketing managers are needed to successfully push a company in the right direction in terms of targeting the business’ ideal customers and pricing its goods and services accordingly. Employment opportunities for marketing managers are expected to increase 14 percent, according to the Bureau of Labor Statistics. Marketing managers earn an average salary of $98,720 annually.
What Does a Marketing Manager Do?
Marketing managers handle a client’s marketing strategy, looking for ways to push the organization’s brand name into the public arena for potential customers to see. They work with product development and market research managers to gauge the demand for certain goods and services to estimate what the ideal price point of the client’s offered goods and services should be, as well as the demographic of the client’s target audience. Price points are especially important, as marketing managers must ensure that the selling price of the client’s goods and services is competitive with rival organizations, but also are on par with what most customers would be willing to pay. For example, if an organization sold its goods for too little, profit margins would shrink dramatically, prompting the business to perhaps go into debt. However, if an organization sold its goods for too much, then customers may not be willing to pay for them when they could get them elsewhere for less, costing the organization valuable business. A marketing manager’s primary duty is to work with the client and employ market research to strike a middle ground.
What Kind of Training Do I Need to Become a Marketing Manager?
Marketing managers should have at least a bachelor’s degree in business administration with an emphasis on marketing, though many employers now seek applicants who have completed a master’s degree. A bachelor’s degree takes four years to complete, and a master’s degree takes an additional two to three years to earn after first obtaining a bachelor’s. Courses include consumer behavior, sales and market research. Although it is not required, prospective marketing managers may seek certification to increase their attractiveness to employers.