Marketing is no longer a one-way communication. Now most marketing campaigns invite feedback and reviews from existing and potential customers. The old adage rightly says, “Marketing always changes but selling stays the same.”
A marketing manager has a vital role to play in this changing marketing environment. Today’s marketing managers should consider both micro and macro environmental factors when developing and implementing marketing strategies for their company.
India, being one of the world’s fastest growing consumer markets, holds a lot of promises for aspiring marketing managers. The country’s average household income is likely to see threefold growth by 2025, according to a recent study by the McKinsey Global Institute (MGI).
If you are planning to build a career in marketing management, this is the right time to start your preparation. However, before you get started, you should know a few things about the specific of this profession.
Job DescriptionMarketing managers help companies achieve their sales goals by designing and implementing marketing strategies. Being the key person responsible for both tackling day-to-day marketing tasks and meeting long-term marketing goals, a marketing manager often needs to perform multiple tasks, which include conducting market research, developing strategies, overseeing marketing team and keeping up-to-date with recent marketing trends. Your duties may vary depending on the company you are working for, but will typically include;
Identifying target markets and potential customersDetermining the demands for existing productsDoing competitor analysisDeveloping pricing strategiesPreparing marketing strategies in line with market demands and company objectivesRecognizing any need for developing and/or launching new productsDetermining funding requirement for new product developments, if requiredPlanning advertising campaignsMonitoring and measuring effectiveness of marketing campaignsCoordinating with the sales teamPlanning and monitoring the company’s marketing budgetAnalyzing vacancies in the marketing department and ensuring timely recruitmentEnsuring consistency of brand message
Educational QualificationFor entry-level jobs, employers usually look for fresh graduates in marketing or business administration. However, entry after 10+2 is also possible. Some marketing managers are promoted within the company from marketing executive posts, while others are hired from outside, often through campus interviews. Depending on the requirements of the job, some employers may look for candidates with a master’s degree in business administration (MBA). Candidates with a degree in marketing are likely to know the fundamentals of sales, marketing principles and customer behavior. Students of business administration usually learn business law, principles of management, market research and product design.
Skills RequiredThe Harvard Business School defines a manager as someone who has this unique ability to “get results through other people.” A good marketing manager, apparently, is no exception. Like all great managers, a marketing manager should have excellent leadership skills, but the style of leadership should be different. This is mainly because marketing managers need to deal with people from a diverse range of backgrounds and professions, including marketing executives, sales managers, vendors, designers and financial analysts. To be successful in this profession, you need a wide variety of skills and qualities, such as,
Analytical skillsCommunication skillsInterpersonal skillsOrganizational skillsAbility to work as a teamTechnical proficiencyProject management skillsCritical thinking abilityDecision making skillsAbility to persuade or convinceAbility to multitaskA proactive and result oriented approach
Career Opportunity and SalaryMarketing management jobs are available across almost all industries, including healthcare, IT, construction, manufacturing, hospitality, telecommunication and education. There is a growing demand for skilled, qualified and experienced marketing managers in ecommerce companies, media houses, FMCG companies, software development companies and fashion stores, just to name a few. You could be employed as junior or senior marketing manager, depending on your qualification and experience. Your salary will vary accordingly. Salary of a marketing manager also depends on location, skills and levels of responsibility. In India, a marketing manager earns a salary of between Rs 4 lakh and Rs 25 lakh per annum. Top employers include Hindustan Unilever Limited, HCL Technologies, Wipro, Johnson and Johnson and Proctor and Gamble.
If you have a dynamic personality with strong leadership skills and a passion for marketing, you should consider building your career in marketing management.