Marketing Career Opportunities

MARKETING CAREER

OPPORTUNITIES

X420 Discussion # 49

Marketing Defined

The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. (AMA)

The Marketing Process

“Typical” Marketing Structure

Market Research

Market Research Function

Monitoring competitors Identifying market trends Developing customer profiles Monitoring market share Evaluating brand images Analyzing audience characteristics Evaluating impact of advertising and

promotion. Evaluating distribution channels

Market Research Department

Associate Analyst

Entry level Design/proofread questionnaires Compile mathematical data

Market Research Analysts

Works with managers to gather information for projects

Works independently by project after experience

Presents data and recommendations to market research manager

Manager or Senior Market Research Analyst

Supervises work of junior analysts Coordinates input from other company

sources for a project Presents conclusions Key customer contact for market research

firms

Field Service Director

Hires field personnel to gather data (interviewers)

Manages interview process Manages the tabulation of data (coders)

Independent Consultant

Not an employee of firm Industry expertise Performs some or all market research

functions Submits proposal (timeline and

compensation) for project

Market Research Manager

Liaison between market research department and other company departments

Staffs department Expense and project budgeting Oversees all projects

Skills Required for Market Research

Analytical Curiosity Logic Technical orientation (math, statistics,

computers, etc.) Product/industry knowledge (sales

experience helpful) Written and oral communication

Opportunities in Market Research

Larger “retail-oriented” companies Independent research firms “Hunger for information” -- availability of

information increases demand for more accurate information

Job growth faster than average Competition is tough -- must be technically

qualified

Video Clip

Market Research

Promotion

Advertising -- agency or “in-house”

Functions Account services Research Creative Media

Account Services

Account executive Traffic manager Assistant account executive

Account Executive

Liaison between client and agency Responsible for client need assessment

and communication to agency support staff (creative and media)

Monitors all activities in ad campaign

Traffic Manager

Coordinates projects between all four areas of activity

Communicates timetables to organization Monitors progress

Assistant Account Executive

Assists account executives with clients Training position for account executives

Research Department (agency)

Functions as a market research department

Focuses on effective advertising for product positioning

Utilizes primary and secondary data

The Creative Department

Creative Department

Synthesizes information from research, account executives and clients

Develops activity themes and layouts Contains the largest number of jobs in

advertising

Breaking into the Creative Department

College degree, preferably in art, graphic design, desk top publishing

Portfolios of writing samples and ideas Knowledge of advertising trends and media

Media Department – Planners and Managers

Develops media strategy Analyzes media research information Collaborates with account services and

customer to budget media mix Negotiates contracts with media outlets to

execute plan

Sales Promotion Managers

Specialists who analyze markets and develop promotional incentives -- contests, coupons, rebates, etc.

Promotions can be directed to retailer or consumer

Positions typically exist in large consumer oriented companies, marketing highly competitive product lines

Positions fluctuate depending upon company’s strategy for particular products

Public Relations Manager

Positions can be “in-house” or with public relations firms

Professionals who manage information and news of the company with mass media

Mission -- building, maintaining and improving the public image of the firm

Specialization can occur in consumer affairs, government relations, investor relations, employee relations, community relations, international relations and media relations

Tools for Marketing Public Relations

P = publications (brochures, annual reports) E = events (trade shows, special events) N = news (stories about of company, people, products) C = community involvement activities (contributions of time

& money) I = identity media (stationary, bus cards) L = lobbying (influence legislatures) S = social responsibility (reputation for corporate social

responsibility)

Product/Brand Management

Product / Brand Management Functions

Evaluate product testing and recommend further action Plan production and packaging Provide information and recommendation on product pricing Develop sales and profitability forecasts and marketing budgets Analyze market research statistics and recommend promotion

budgets Identify channels of distribution Collaborate with market research and advertising agency to

position product Coordinate production and promotion of product Lead product management team

Product Expert

Research andDevelopment

Sales

MarketCommunication

Manufacturing

PRODUCT/BRANDMANAGER

Skills Required for Product/Brand Management

Graduate degree (manager) Sales experience Analytical and budgetary expertise Interpersonal / team building qualities Oral presentation and written

communication skills

Opportunities in Product / Brand Management

Highly competitive Few positions available relative to other

marketing activities Prior business experience required

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Product / Brand Management

Sales

Sales

Industrial Wholesale Retail

Nature of Sales Work

Setting goals, planning, and making sales Identifying and contacting prospective customers Maintaining contacts with current customers and anticipating

their needs Planning and making sales presentations Reviewing sales orders, schedule delivery dates, and handling

special details Maintaining up-to-date records and reports Handling complaints and problems Monitoring the competition Learning new product information and marketing strategies Evaluating price trends and advising customers

The Personal Selling Process

Step 1: Prospecting Step 2: Qualification Step 3: Contacting the prospect Step 4: Making the Presentation Step 5: Handling objections Step 6: Closing the sale Step 7: Follow-up

Company Sales Representatives

Territory and/or account responsibility Sell to wholesalers, retailers, industrial users, individual

consumers Duties: solicit sales, provide information, and technical

assistance, monitor inventories, set-up promotional displays, install/service products

Compensation can be salary, commission, salary plus bonus or salary plus commission

Good entry level position

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Sales Representative

Company Sales Managers

Same Functions as Sales Representatives, plus: Monitor/collect customer preferences and trends Forecast sales and inventory requirements Recruit, hire and train sales representatives Establish distribution channels

Manufacturers Agents or Representatives

Independent, self-employed business people Represent one or several related products Commission sales, no expenses Experienced and seasoned sales

professionals

Brokers

Matches buyers with sellers Specializes in industry and/or geography Commission based compensation Combination of phone and face-to-face selling Predominantly non-value added selling

Skills Required for Sales

Self motivated, strong work ethic Analytical Creative, imaginative, problem solver Good listener and good communicator Friendly, aggressive (not “pushy”) personality Grasp technical concepts quickly

Careers in Retailing

BuyersMerchandise managersBuyersAssistant Buyers

SellersStore ManagersDepartment ManagersSales Personnel

Merchandise Buying

Selects, purchases and promotes merchandise for store

Negotiates with suppliers Supervise other buyers or sales management Researches customer tastes, changing trends

and a balance of quality and affordability Entry level training -- 2 to 5 years

Skills Required for Merchandising Buying

Usually does not require a specific academic background

High energy and outgoing personalities Awareness of sound business practices Knowledge of industry can be important

-- in apparel, a flair for fashion

-- in hardware, a do-it-yourself quality Extended travel a possibility

Retail Sales

Customer comes to you Ascertain the wants and needs of customers Be familiar with the market and competition Understand and describe product features and

uses Learn and execute effective selling techniques Know the importance of customer service Develop a positive attitude toward work

Skills for Retail Sales

A “people-oriented” and out-going personality Self control and diplomacy Reliable and responsive Comfortable with commission compensation Communicate -- be able to explain benefits

Store Management

Positions usually result from sales success Demonstrated ability to effectively supervise staff,

work well with customers, make good and quick decisions balancing the welfare of store and customers

Budgeting and general business skills Upward mobility may require frequent relocation

Outlook for Marketing Jobs

Employment in marketing is expected to increase faster than the average -- 20% to 35% through 2010.

Employment growth expected in most business services industries (such as computer and data processing, management and public relations firms) rather than manufacturing industries.

Increasingly intense domestic and global competition – marketing candidates must be aware of trends in consumer lifestyles, values and technology.

Best positioned candidates – some experience, a high level of creativity, strong communication skills, new media familiarity, information technology knowledge and interactive marketing skills.

CAREERS IN MARKETING

Evaluation Questions Use:

– a. Strongly agree– b. Agree– c. Disagree– d. Strongly disagree– e. Don’t know

1. I found the presentation of material easy to understand.

2. The discussion session increased my knowledge on the subject presented.

3. I will be able to use some of the information from this discussion session in the future.

4. The presenter was well prepared for this discussion session.

5. This presentation should be repeated in future semesters.