Marketing Today
What is the role of marketing in a typical business?
Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and sales. Larger businesses will dedicate specific staff and departments for the purpose of marketing.
It is important to realise that marketing cannot be carried out in isolation from the rest of the business. For example:
The marketing section of a business needs to work closely with operations, research and development, finance and human resources to check their plans are possible.
Operations will need to use sales forecasts produced by the marketing department to plan their production schedules.
Sales forecasts will also be an important part of the budgets produced by the finance department, as well as the deployment of labour for the human resources department.
A research and development department will need to work very closely with the marketing department to understand the needs of the customers and to test outputs of the R&D section. Role of Marketing
What are the projections for jobs in marketing of the next few years and beyond?
Job Outlook - According to the 2006–07 Occupational Outlook Handbook from the U.S. Bureau of Labor Statistics (BLS), overall employment in the field of marketing is expected to increase faster than average—exhibiting an 18 to 26 percent growth—through 2014. The BLS points to growing domestic and global competition in consumer products and services as a key reason for this job growth. However, this growth varies widely by sector: Robust growth is anticipated in scientific, professional, and technical services realms, while a decline is expected in the manufacturing sector.
What are the key trends, developments, and challenges?
The BLS also cautions that overall, there will be increased competition for the available full-time opportunities in the field of marketing, especially since hiring contractors in lieu of replacing full-time marketing professionals is becoming a common practice.
This news comes as no surprise to marketers in the field, since few have been spared from widespread layoffs and drastic budget reductions. Nonprofit marketers have had to step up their efforts to sustain their organizations, given the shrinking pool of funding available due to government cuts, scarce corporate sponsorships, and decreased individual donations. Many companies have opted to hunker down, keep a low promotional profile, and wait out the recession, which has meant tough times for marketers in many CPG (consumer product goods) companies and advertising agencies.
What are where are the opportunities?
After a few brutal years, however, marketers' job prospects are beginning to look up. As other industries continue to recover from the recent recession, marketing spending is sure to increase—and with that, so will job opportunities for marketing professionals.
What are the opportunities for career growth?
The best opportunities will be available to those with a high level of creativity and technical skills to conduct marketing activities on the Internet. Marketers should also find many opportunities in the health care sector, the country’s largest industry, which is experiencing explosive growth. JOB OUTLOOK
Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and sales. Larger businesses will dedicate specific staff and departments for the purpose of marketing.
It is important to realise that marketing cannot be carried out in isolation from the rest of the business. For example:
The marketing section of a business needs to work closely with operations, research and development, finance and human resources to check their plans are possible.
Operations will need to use sales forecasts produced by the marketing department to plan their production schedules.
Sales forecasts will also be an important part of the budgets produced by the finance department, as well as the deployment of labour for the human resources department.
A research and development department will need to work very closely with the marketing department to understand the needs of the customers and to test outputs of the R&D section. Role of Marketing
What are the projections for jobs in marketing of the next few years and beyond?
Job Outlook - According to the 2006–07 Occupational Outlook Handbook from the U.S. Bureau of Labor Statistics (BLS), overall employment in the field of marketing is expected to increase faster than average—exhibiting an 18 to 26 percent growth—through 2014. The BLS points to growing domestic and global competition in consumer products and services as a key reason for this job growth. However, this growth varies widely by sector: Robust growth is anticipated in scientific, professional, and technical services realms, while a decline is expected in the manufacturing sector.
What are the key trends, developments, and challenges?
The BLS also cautions that overall, there will be increased competition for the available full-time opportunities in the field of marketing, especially since hiring contractors in lieu of replacing full-time marketing professionals is becoming a common practice.
This news comes as no surprise to marketers in the field, since few have been spared from widespread layoffs and drastic budget reductions. Nonprofit marketers have had to step up their efforts to sustain their organizations, given the shrinking pool of funding available due to government cuts, scarce corporate sponsorships, and decreased individual donations. Many companies have opted to hunker down, keep a low promotional profile, and wait out the recession, which has meant tough times for marketers in many CPG (consumer product goods) companies and advertising agencies.
What are where are the opportunities?
After a few brutal years, however, marketers' job prospects are beginning to look up. As other industries continue to recover from the recent recession, marketing spending is sure to increase—and with that, so will job opportunities for marketing professionals.
What are the opportunities for career growth?
The best opportunities will be available to those with a high level of creativity and technical skills to conduct marketing activities on the Internet. Marketers should also find many opportunities in the health care sector, the country’s largest industry, which is experiencing explosive growth. JOB OUTLOOK
Marketing Careers
Top Five Careers in Marketing
1. Assistant media buyer: A bachelor's degree in marketing is preferred for this career; you would be working with a media buyer to track and negotiate the purchase of advertising space across a range of media.
2. Sales worker supervisors: If you have experience in sales and are ready for advancement, an online learning course in marketing could aid your effort. The Bureau of Labor Statistics (BLS) reports median earnings of $39.910 for sales worker supervisors in 2008, with marketing degrees recommended.
3. Graphic designers: For those with an artistic side, an online degree in marketing is a great addition to any graphic designer's arsenal. Graphic designers who create material for marketing campaigns can benefit from the training a bachelor's degree in the field provides. The BLS reports that graphic designers earned median salaries of $46,750 in 2008.
4. Wholesale trade marketers: Instead of interfacing with the general public, marketing workers in wholesale trade sell to retail suppliers. The BLS reports that wholesale employers often seek sales workers to develop prospective clients, which involves demonstrating new products and supplying improved customer service.
5. Broadcasting account executives: In the world of broadcast media, marketing degree holders hold the key to a higher income. Account executives use their creativity to find new venues and opportunities for earnings.
1. Assistant media buyer: A bachelor's degree in marketing is preferred for this career; you would be working with a media buyer to track and negotiate the purchase of advertising space across a range of media.
2. Sales worker supervisors: If you have experience in sales and are ready for advancement, an online learning course in marketing could aid your effort. The Bureau of Labor Statistics (BLS) reports median earnings of $39.910 for sales worker supervisors in 2008, with marketing degrees recommended.
3. Graphic designers: For those with an artistic side, an online degree in marketing is a great addition to any graphic designer's arsenal. Graphic designers who create material for marketing campaigns can benefit from the training a bachelor's degree in the field provides. The BLS reports that graphic designers earned median salaries of $46,750 in 2008.
4. Wholesale trade marketers: Instead of interfacing with the general public, marketing workers in wholesale trade sell to retail suppliers. The BLS reports that wholesale employers often seek sales workers to develop prospective clients, which involves demonstrating new products and supplying improved customer service.
5. Broadcasting account executives: In the world of broadcast media, marketing degree holders hold the key to a higher income. Account executives use their creativity to find new venues and opportunities for earnings.
Key Marketing Terms
4 P's of marketing - Marketing decisions generally fall into the following four controllable categories:
Niche - is the subset of the market on which a specific product is focusing on; Therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.
Target market - is the market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping. Market Targeting is the process in which intended actual markets are defined, analyzed and evaluated just before the final decision to enter is made.
Product mix - is generally defined as the total composite of products offered by a particular organization, consists of both product lines and individual products.
Promotion mix -
Positioning - has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. It is the 'relative competitive comparison' their product occupies in a given market as perceived by the target market.
IMC - is a term used to describe a holistic approach to marketing communication. It aims to ensure consistency of message and the complementary use of media. The concept includes online and offline marketing channels. Online marketing channels include any e-marketing campaigns or programs, from search engine optimization (SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog, micro-blogging, RSS, podcast, and Internet TV. Offline marketing channels are traditional print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio, and television. A company develops its integrated marketing communication programme using all the elements of the marketing mix (product, price, place, and promotion).
Skimming - Setting the original price high in the early stages of the product life cycle in an attempt to get as much profit as possible before prices are driven down by increasing competition.
- Product
- Price
- Place (distribution)
- Promotion
Niche - is the subset of the market on which a specific product is focusing on; Therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.
Target market - is the market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping. Market Targeting is the process in which intended actual markets are defined, analyzed and evaluated just before the final decision to enter is made.
Product mix - is generally defined as the total composite of products offered by a particular organization, consists of both product lines and individual products.
Promotion mix -
- Advertising - Any paid presentation and promotion of ideas, goods, or services by an identified sponsor.
- Personal Selling - A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation.
- Promotions - Incentives designed to stimulate the purchase or sale of a product, usually in the short term.
- Public relations - Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media.
Positioning - has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. It is the 'relative competitive comparison' their product occupies in a given market as perceived by the target market.
IMC - is a term used to describe a holistic approach to marketing communication. It aims to ensure consistency of message and the complementary use of media. The concept includes online and offline marketing channels. Online marketing channels include any e-marketing campaigns or programs, from search engine optimization (SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog, micro-blogging, RSS, podcast, and Internet TV. Offline marketing channels are traditional print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio, and television. A company develops its integrated marketing communication programme using all the elements of the marketing mix (product, price, place, and promotion).
Skimming - Setting the original price high in the early stages of the product life cycle in an attempt to get as much profit as possible before prices are driven down by increasing competition.
Marketing Mentor:
Discussion with:
Roger Decker
Date:
11/09/2009
Objectives
What do you really want to get out of this interview? What would make it successful for you?
To have people see marketing from the standpoint of graphic artist.
Marketplace
What are your projections for this type of work or industry? Is it stable, growing, declining?
Yeah, Always a demand for it and the sky is the limit.
What are the key trends or issues? New developments? Key challenges?
Marketing used to be controlled by finance. Small business do their on marketing because they don’t trust the big companies recognize the need for it and where a marketer will sit next to a financer as in the importance in promoting the company. The diversity of services and goods require different types of marketing techniques. The companies are hurting and they have to go back to marketers and have their marketers sell their company to the public but they are afraid of spending money on new ideas. Marketing towards a greener population.
What and where are the opportunities?
Anything and anywhere. Government. Big companies and small companies alike need marketers. Demographics have the marketers come to the artist to come up with a new idea of selling to the specific type of group.
What are typical salaries in this type of job, entry-level to experienced? What are the opportunities for career growth?
$55,000 to $125,000 The need of marketing to the public according to demographics. Newer technologies allow great reach to diverse group or even a specific demographics.
Entry into Position
When and how did you get involved in this work?
When creating his own business saw that marketing was the way to have his company progress.
What was your training and background? Is this typical for people in your position and in similar positions?
He got a Bachelor in Fine arts with an enfaces in Visual Communication and having his own business. It in not typical to have their own company and to start from scratch but they work for a firm or company.
How important are specific credentials for entry or success?
For entry it is not that important but as long as you got some schooling. A good internship and marketing yourself to companies of your abilities. Past success creates future job opportunities. After 5-10 years they become your credential to get a bigger and better job.
Job Specifics
What’s a typical day like for you or someone in a similar position?
A typical day could vary from finding new clients that can pay the top dollar, researching, and coming up with new ideas.
What do you like most about your work?
He likes the chalange of coming up the ideas of having his company grow.
What do you like least?
Paychecks are not steady when you are working for yourself.
What talents or skills do you think are the most crucial to success in this work?
Be very creative and very personal and involving heavenly father as well and communicate very well.
What attitudes or values are important?
Staying focused because every second counts and cannot be greedy.
Who doesn’t do well in this type of work?
Someone that is not commit and lazy would not do to well and that is true for all companies. You don’t want someone that is just out there to get a pay check but loves what they are doing.
How do you advance or get promoted in this type of work?
Get recognized at doing the best work at the job that you are at and to proactively look for a better company or region where your skills are desired.
Recommendations
Would my background be appropriate for this type of work?
Yes from marketing or promoting other companies by working for them and having a good report from them.
What would you recommend I do if I want to go into this type of work?
Go to school and study business, finance and marketing and public communications and linguistics.
Are there other jobs similar to yours that you would suggest I also consider?
Economics, Online Business, Web Design.
Can you recommend other people I can talk to, or other resources I can check out?
The internet. Tyler Vaclaw 918-331-2713 – Finances. Eddy John 918-335-0264 Information Systems.
Knowing what you do now, would you approach this career (or job) in the same way? If not, what would you do differently, and why?
Lived a different life and gotten a job with a good and steady company, instead of having to start later in life in the career that you have always wanted.
Roger Decker
Date:
11/09/2009
Objectives
What do you really want to get out of this interview? What would make it successful for you?
To have people see marketing from the standpoint of graphic artist.
Marketplace
What are your projections for this type of work or industry? Is it stable, growing, declining?
Yeah, Always a demand for it and the sky is the limit.
What are the key trends or issues? New developments? Key challenges?
Marketing used to be controlled by finance. Small business do their on marketing because they don’t trust the big companies recognize the need for it and where a marketer will sit next to a financer as in the importance in promoting the company. The diversity of services and goods require different types of marketing techniques. The companies are hurting and they have to go back to marketers and have their marketers sell their company to the public but they are afraid of spending money on new ideas. Marketing towards a greener population.
What and where are the opportunities?
Anything and anywhere. Government. Big companies and small companies alike need marketers. Demographics have the marketers come to the artist to come up with a new idea of selling to the specific type of group.
What are typical salaries in this type of job, entry-level to experienced? What are the opportunities for career growth?
$55,000 to $125,000 The need of marketing to the public according to demographics. Newer technologies allow great reach to diverse group or even a specific demographics.
Entry into Position
When and how did you get involved in this work?
When creating his own business saw that marketing was the way to have his company progress.
What was your training and background? Is this typical for people in your position and in similar positions?
He got a Bachelor in Fine arts with an enfaces in Visual Communication and having his own business. It in not typical to have their own company and to start from scratch but they work for a firm or company.
How important are specific credentials for entry or success?
For entry it is not that important but as long as you got some schooling. A good internship and marketing yourself to companies of your abilities. Past success creates future job opportunities. After 5-10 years they become your credential to get a bigger and better job.
Job Specifics
What’s a typical day like for you or someone in a similar position?
A typical day could vary from finding new clients that can pay the top dollar, researching, and coming up with new ideas.
What do you like most about your work?
He likes the chalange of coming up the ideas of having his company grow.
What do you like least?
Paychecks are not steady when you are working for yourself.
What talents or skills do you think are the most crucial to success in this work?
Be very creative and very personal and involving heavenly father as well and communicate very well.
What attitudes or values are important?
Staying focused because every second counts and cannot be greedy.
Who doesn’t do well in this type of work?
Someone that is not commit and lazy would not do to well and that is true for all companies. You don’t want someone that is just out there to get a pay check but loves what they are doing.
How do you advance or get promoted in this type of work?
Get recognized at doing the best work at the job that you are at and to proactively look for a better company or region where your skills are desired.
Recommendations
Would my background be appropriate for this type of work?
Yes from marketing or promoting other companies by working for them and having a good report from them.
What would you recommend I do if I want to go into this type of work?
Go to school and study business, finance and marketing and public communications and linguistics.
Are there other jobs similar to yours that you would suggest I also consider?
Economics, Online Business, Web Design.
Can you recommend other people I can talk to, or other resources I can check out?
The internet. Tyler Vaclaw 918-331-2713 – Finances. Eddy John 918-335-0264 Information Systems.
Knowing what you do now, would you approach this career (or job) in the same way? If not, what would you do differently, and why?
Lived a different life and gotten a job with a good and steady company, instead of having to start later in life in the career that you have always wanted.