Marketing managers plan and execute the marketing strategies of companies that hire them[i]. As part of their work, these professionals must determine how to increase the demand for products or services offered for sale to the public. In order to do this, they first identify prospective customers based on demographics and other variables. Then they work with other people within the organization to develop optimal strategies for pricing, advertising, and marketing the products or services sold in order to maximize revenues for the company and increase its market share.
A bachelor's degree in business, marketing or a related field is typically required in order for an individual to be considered for a marketing manager position. It is not uncommon to see such managers having MBAs or other advanced degrees which may give them an advantage over other job applicants. Ultimately, to become a manager, however, one must have a proven track record of success in helping companies to meet their sales quotas and market share goals.
Since they are managers, the workplace environment for these professionals may sometimes be quite stressful at times. They must work together with other departments in order to coordinate strategies, as well as with management to meet quarterly and long-term goals. Having to juggle multiple tasks and goals at one time is part of the marketing manager's work. They must also be able to do all of this while still meeting deadlines and exceeding the performance expectations of their bosses.
Some of the duties assigned to marketing managers include, but are not limited to, consumer marketing, email marketing, category marketing, and product marketing. Although all have different titles, the work is generally the same[ii]. Certain strategies have to be implemented and goals have to be put into place and met. Marketing managers have to understand the importance of staying on task and within the budget allowed.
Fortunately, marketing managers are typically financially rewarded for all of their hard work. According to the Bureau of Labor Statistics, the median yearly salary of these professionals is $119,480. Those who work in major metropolitan areas on the east coast and west coast typically earn the most, while the marketing managers with jobs in the Midwest and South earn less on average. Still, the pay regardless of location is substantially higher than the median wages for the average occupation in the United States. And the good news is that the BLS predicts substantial job growth within the field, with openings for marketing managers expected to climb by fourteen percent over the next ten years[iii]. This is a much higher growth rate when compared to similar professions.
So, there may be ample opportunity for talented and skilled marketing professionals to obtain management roles within organizations in the years to come and reap the financial rewards of such positions.
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[ii] For more information, please visit: http://www.floridatechonline.com/online-degree-resources/marketing-manager-careers/
[iii] For more information, please visit: http://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm