Career in Marketing Management
Marketing starts with a well – defined market focuses on customer needs, coordinates all the activities that will affect customer end produces profits by satisfying customers.
The process starts with identification of the customers needs by going in for customers feedback. It is a comprehensive process comprising product pricing, distribution, promotion, packaging etc. It entails satisfaction of consumer regarded as the focal point of the entire business organization and in particular marketing department.
While marketing focuses on the needs of the consumers, selling is oriented towards that of the sellers themselves. Marketing, as a practice, originated in the middle of the 20th century both as a scientific process and organized activity. It has been developed to its highest level in the USA.
The education and qualification is relevant to marketing is obtained at the post graduate level, i.e., MBA with specialization in marketing management. In addition there are certain management institutes, which conduct diploma courses on marketing management and offer a PG Diploma / Diploma in Marketing / Marketing and sales. Graduation in any discipline is the minimum qualification required for entry to a course on marketing management.
The selection for most institutes is based on an entrance exam. The duration of a course range from one to three years depending upon the course. Marketing is a function in every enterprise; the focus and nuances may vary from industry to industry. The sole purpose of marketing is to create a customer, to keep him and ensure that you profit by him. Today, the number of possible marketing careers is enormous. Some recent studies are found that more top executives are from the marketing field than any other area.
Areas of Specialization :
Advertising : You can make a career in media research or the creative departments, media buying or the account planning side.
Media selling is another career opportunity segment. Most large organizations today have developed a special advertising department, which is generally part of the bigger brand/product management division. Career avenues are also available in management consulting and marketing research. The opportunities for rapid advancement are probably greater in advertising through the compensation might not be very attractive in the initial stages. You should have good inter – personal and presentation skills, be creative and highly self – motivated if you want succeed.
Brand Management : Brand managers plan, develop and direct marketing efforts for a particular brand or product co – ordinating the activities of specialists in Production, Sales, Advertising, Promotion, R & D, Marketing Research, Purchasing Distribution and Finance.
Brand Management, in fact, is considered one of the best training grounds, as individuals get early responsibility, which enables them to learn quickly and demonstrate their ability by contributing at the very outset to the brand operations. Brand management is a vast field and requires a broad background in marketing’s core functional areas like, market research, consumer behaviour, advertising and strategy and calls for analytical skills for which specialized courses in accounts and finance can help. Since brand managers have to deal with host of specialist departments within their organizations to be creative and result oriented and possess strong inter – personal and communication skills.
Marketing Research : A career in market research involves designing research products, data collection, data tabulation analysis, report preparation and presentation of the findings to the clients. Due to expansion in the scope of market research, holding opinion polls during elections, researching the sales efforts through distribution channels.
Corporate Selling : Involves selling through company’s own field force or through a major accounts dealer.
Market Development : Here one is responsible for developing new business.
Service Marketing : As the title suggests, this aspect relates to marketing of services like insurance, healthcare, IT enabled services etc. In recent past it has become very dominant.
As e consequence, careers in service marketing have picked up in banking and finance, tourism, healthcare and software development, etc. A person in this field should be comfortable in dealing with product attributes and issues that are hard to observe and classify because of the intangible nature of most service products.
Logistic Management : The activities in this career include transport warehousing, forecasting, order processing, inventory control and customer services. This career opportunity is practically dominant industries like the transportation industry, courier and export hoses. Even the traditional companies today.
Have a separate logistics management department. This not only deals with the physical transportation of products but also with various purchasing, selling and channel management functions. To be successful in this field, one requires strong inter – personal skills to deal with individuals from diverse backgrounds.
Direct Response Marketing : It is a method of marketing directly to the consumer.
The fastest growing marketing channel, it includes vehicles like direct print, telephone marketing, in home presentations and door – door marketing as also electronic ordering India, this method has been used for late marketing vacuumcleaners, credit cards, membership of clubs and Amway international. You must have personal qualities like creativity and quantitative skills.
International Marketing : Due to globalization of the Indian Economy, this has become a specialized career opportunity. Since there are very few companies like Colgate, Palmolive, Gillete and Nestle, which hire people, specifically for international marketing, the best route to get into such a career is to take up a domestic sales position with an international firm.
Fluency in foreign languages and some experience in living in another country are essential prerequisites for success in this field. Further, the ability to communicate is essential for marketing jobs. Therefore, a marketing professional should have reasonably good command over English language and strong command over the regional language.
A working knowledge of Hindi gives a edg to one’s future career prospects. In the present age of rapidly hanging technologies ant information’s, a background in computers always helps. Since their efforts contribute to the overall sales turnover of an organization, sales persons occupy a key position in modern marketing.
The sales manager has to achieve the targeted sales figure through the sales team at his disposal. Also, the sales personnel of an organization have to perform many useful ancillary’s services such as sales forecasting, market and consumer research, realization of dues, dealing with complaints, etc. It is important to keep in mind that marketing is a comprehensive and total process, which starts with assessing the needs of the customers. The behavior and attitude of the personal providing the services has an impact on the customers overall perception of the service.
Many people find marketing attractive, specially the youngsters, because it offers glamorous life style and an opportunity to travel extensively. But the ob demand hard work combined with sincerity. A marketing person’s job is to demonstrate and sell products. He can work as accompany employee or a distributor. The main task of the distributor is to design the distribution strategy to facilitate the smooth physical flow of products from the manufacturer and his customers. As a result, distributors earn substantial amounts of money as intensives such as trips abroad, upon meeting sales targets.
It is possible for people to participate in product launches or events as part time jobs. Students and housewives can often earn quite a lot by doing marketing jobs during their spare time. Students can also take up direct selling jobs in their vacations, which help them gain experience and confidence. The most basic form of marketing organization is a function – oriented organization, where each function is assigned to a specialist who reports to the marketing manager.
The manner in which each sub – function is organized varies from one company to another, depending upon the unique combination of internal company attributes and external environmental factors. This kind of classification provides wide opportunity for advancement within the skill hierarchy. A fresher generally joins as a trainee sales representative in a medium organization. After a service of few years and gaining more practical experience he may be promoted to higher posts like sales officer, sales executive, assistance sales manager, marketing manager and ultimately marketing director.
The earnings of marketing personnel are very lucrative. The remuneration depends more or less on two factors – the demand for and supply of, the services of a marketing professional in a particular area of the industry. The more common practice of compensation is a combination of salary and commission. While the salary is fixed, the commission is an additional benefit for the extra effort of a salesman.
The starting salary could range from 5,000 to 15,000 per month depending upon the organization and the candidate’s experience.