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 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 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 Buyers Merchandise managers Buyers Assistant Buyers Sellers Store Managers Department Managers Sales 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 to 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 I found the presentation of material easy to understand The discussion session increased my knowledge on the subject presented I will be able to use some of the information from this discussion session in the future The presenter was well prepared for this discussion session This presentation should be repeated in future semesters ... create exchanges that satisfy individual and organizational objectives (AMA) The Marketing Process “Typical” Marketing Structure Market Research Market Research Function        Monitoring.. .Marketing Defined The process of planning and executing the conception, pricing, promotion and distribution... etc.)  Product/industry knowledge (sales experience helpful)  Written and oral communication Opportunities in Market Research  Larger “retail-oriented” companies  Independent research firms