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Details for Marketing Managers


Description

Determine the demand for products and services offered by a firm and its competitors and identify potential customers. Develop pricing strategies with the goal of maximizing the firm's profits or share of the market while ensuring the firm's customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.

Tasks

  • Compile lists describing product or service offerings.
  • Develop pricing strategies, balancing firm objectives and customer satisfaction.
  • Identify, develop, and evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
  • Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, and return-on-investment and profit-loss projections.
  • Formulate, direct and coordinate marketing activities and policies to promote products and services, working with advertising and promotion managers.
  • Direct the hiring, training, and performance evaluations of marketing and sales staff and oversee their daily activities.
  • Negotiate contracts with vendors and distributors to manage product distribution, establishing distribution networks and developing distribution strategies.
  • Consult with product development personnel on product specifications such as design, color, and packaging.
  • Use sales forecasting and strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
  • Select products and accessories to be displayed at trade or special production shows.
  • Confer with legal staff to resolve problems, such as copyright infringement and royalty sharing with outside producers and distributors.
  • Coordinate and participate in promotional activities and trade shows, working with developers, advertisers, and production managers, to market products and services.
  • Advise business and other groups on local, national, and international factors affecting the buying and selling of products and services.
  • Initiate market research studies and analyze their findings.
  • Consult with buying personnel to gain advice regarding the types of products or services expected to be in demand.
  • Conduct economic and commercial surveys to identify potential markets for products and services.

Interests

  • Artistic - Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Education, Training, Experience

  • Education - Most of these occupations require a four-year bachelor's degree, but some do not.
  • Training - Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Experience - A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Knowledge

  • Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Skills

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
  • Coordination - Adjusting actions in relation to others' actions.
  • Persuasion - Persuading others to change their minds or behavior.
  • Negotiation - Bringing others together and trying to reconcile differences.
  • Instructing - Teaching others how to do something.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Operations Analysis - Analyzing needs and product requirements to create a design.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Time Management - Managing one's own time and the time of others.
  • Management of Financial Resources - Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.

Related Careers

  • Advertising and Promotions Managers
  • Demonstrators and Product Promoters
  • Public Relations Specialists
  • Sales Managers
  • Wholesale and Retail Buyers, Except Farm Products
Wages for this career
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