A marketing manager essentially provides an organization with its self-image and purpose, driving the course of its endeavors and directing its focus within the market. Failure of a marketing manager could mean failure for an entire firm, but correspondingly, success by a marketing administrator could result in the ultimate success of anything an organization attempts to accomplish. As an integral component of a marketing team, a marketing manager is responsible for the general direction a company takes.
Description of a Marketing Management Job
A marketing manager, in short, is the senior marketer in a team and is responsible for determining and maintaining an organization's marketing strategy while overseeing the rest of the firm's marketing team. Accordingly, a marketing administrator determines the state of a given market, including calculations such as supply and demand ratios, market territories, and the projected expansion of that territory. Such considerations are even further relevant as globalization continues to shape various economies and introduce new potential additions to the market. This requires continued analysis of the market itself and variables that may affect that market, to include tariffs, domestic legislation, and overall political climates.
The responsibilities of a marketing management position include a comprehensive set of marketing analyses. These include a company analysis, customer analysis, and competitor analysis, colloquially known in the field as "the 3 C's."
During a company analysis, a marketer management work includes determining the capacities and state of a company. This includes an analysis of revenue and overhead, a comparison with competitors, and a determination of both strengths and weaknesses that can alter the course of market maneuvers. Consistent with the adage, "know thyself," a company analysis ensures that a marketing management position, for all intents and purposes, is filled by someone who knows what he or she is doing when making decisions that affect the entire organization.
A marketing manager conducts a customer analysis in order to learn the target market for which the marketing team (including the manager) is to contrive a marketing plan. This includes demographical information and proportions, geographic disbursement, earning power, and overall market strength. The latter property can help the marketing team determine how to stratify a market. For example, if a market in one area were known to have a higher demand as well as a higher average income, this market segment would inevitably be considered priority to one with lesser characteristics.
Competitor analysis is just as it sounds - an analysis of market competitors. As the world continues to coalesce economically, companies are subject to greater numbers of competitors due to the growth of their markets. Subsequently, it is imperative to keep track of all new competitors that arise (as well as those that are already there) and how they relate to each respective market. Indeed, although there will be some competitors that may initially appear weaker because they concentrate on clients with specific demographical traits, a comprehensive competitor analysis can still prove that they are a strong competitor due to the yield of that particular market segment. Competitor analyses include an analysis of Porter's five forces, strategic group competitor analyses, value chain and franchise analyses, and others.
Requirements for a Marketing Management Job
The requirements to become a marketing administrator are typically the following: (a) 4-6 years of related experience, (b) experience using enterprise software (consistent with most marketing management positions), (c) a wide breadth of experience developing marketing strategies, (d) a strong and intuitive comprehension of various markets (especially the market of the organization for which a prospective manager applies), (e) an openness to travel, and (f) a demonstrated ability to lead a marketing team. Although many employers require a Master's degree in Business Administration, applicants with a Bachelor's degree in Business Administration, Business Science, or Economics are often accepted.
Specific skill requirements include recruiting, technical marketing, annual marketing plan development, management of marketing department budget, management of print production as well as distribution, media coverage, product life cycle management, market requirement specifications, solution development across various teams, interdepartmental communication, and partner relationship analysis.
Where to find a Marketing Management Job
Job listings for marketing management positions paying six or more figures can be found all over the internet, but the best marketer management work can be found on ExecCrossing.com. There are literally thousands of listings available across all market segments and within a plethora of industries. Membership is free, but the right job can be worth a fortune!
