Careers in Marketing
Marketing careers range from marketing research to brand management to public relations. Marketing-related jobs make up one third of the civilian labor force. Many top executives of Fortune 500 companies come out of marketing fields, including IBM’s current CEO, Virginia Rometty, and previous CEO, Lou Gerstner.
Marketing Research and Consulting
Marketing research analysts and consultants study consumer preferences and behaviors by analyzing data. They use this analysis to advise companies on how to introduce, brand, and sell products.
Companies gather tons of data for analysis. Taking advantage of the data to generate managerial insights is challenging. No wonder the demand for marketing research analysts and consultants is surging. The Bureau of Labor and Statistics predicts a whopping 41.2 percent employment increase for the Market Research Analyst position between 2010 and 2020. The same position is also ranked the No. 1 best business job by US News & World Report.
Employment usually comes from either a marketing research company or the marketing research department of a company. Graduates need a strong background in statistics and computer analytics. It also requires a solid knowledge of consumer behavior and an ability to communicate with management.
You’ve probably seen a TV commercial that has made you want to buy the newest technology or try a new product. Somewhere behind that advertising campaign is a product/brand manager. Many firms have one manager who is responsible for developing marketing plans for a particular product or brand.
Product managers interpret market research studies, decide the product price, enhance the brand awareness and brand equity, and work with advertising agencies to develop campaigns. In addition to traditional advertising, product/brand managers increasingly connect with customers through social media and generate buzz through internet marketing campaigns.
The product/brand manager job is currently ranked No. 9 among best business jobs by US News & World Report. New college graduates generally begin product management careers as product or brand assistants who work directly for the product/brand manager.
Sales and Sales Management
Selling is an essential component of marketing, but marketing is much more than sales. The goal of Krannert’s rigorous curriculum and training is to lead you to a sales management position.
Sales mangers direct the distribution of their companies’ products to customers, which involves establishing sales territories as well as setting quotas and goals. Guiding the sales team, sales managers outline staff training programs, develop strategies for the team to operate efficiently, and push team members to surpass short- and long-team sales targets.
Sales managers also help identify new customers and new business opportunities. In addition, sales managers have external responsibilities that include actively recruiting and hiring sales associates.
Of course, you may have to start your career as an entry-level sales representative. The responsibility of a salesperson includes helping distributors merchandise a product, monitoring competitors’ activities, and demonstrating new products.
Sales positions can be very rewarding. Because of the exceptional level of independence working in sales, many individuals turn down opportunities for promotion into management.
A wide variety of companies seeks people for sales careers: consumer goods firms, companies providing service, and business-to-business firms. The sales manager job and the business-to-business firm sales representatives are ranked No. 15 and No. 16 among the best business jobs by US News & World Report.
There are two management tracks in retailing: merchandise management and store management. The key position in merchandising is that of a buyer, who selects merchandise, determines the quantity to order, sets merchandise prices, and guides promotion.
In contrast, store management involves the supervision of personnel in all departments and the general management of all facilities, equipment, and merchandise. Store managers are also responsible for the financial performance of each department and for the store as a whole.
Most entry-level jobs in retailing are trainee positions. A trainee is usually placed in a management training program and then given a position as an assistant buyer or assistant department manager. Advancement and responsibility can be achieved quickly because there is a shortage of qualified personnel in retailing. Superior performance is quickly reflected in sales and profits – two visible measures of success.
$2,929 Average Bonus
(for those receiving a bonus)
Common Job Titles:
Marketing Research — Product Management — Sales —
Some of the firms Who have hired In this Area:
AC Nielsen — Angie's List — Coyote Logistics — DISH Network — ExactTarget — Hormel Foods — Ingersoll-Rand — Procter & Gamble — Reckitt Benckiser —