Marketing Career Opportunities

Market Research Function Monitoring competitors  Identifying market trends  Developing customer profiles  Monitoring market share  Evaluating brand images  Analyzing audience chara

MARKETING

CAREER OPPORTUNITIES

X420 Discussion # 49

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

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)

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

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

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

Assistant Account Executive

 Assists account executives with clients

 Training position for account executives

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/BRAND MANAGER

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

Video Clip

Product / Brand Management

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

Video Clip

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

 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

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

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.