What you need to know
Marketing managers estimate the demand for products and services that an organization and its competitors offer. They identify potential markets for the organization’s products.
For example, a marketing manager may monitor trends that indicate the need for a new product or service. Then he or she may assist in the development of that product or service and to create a marketing plan for it.
Marketing managers are often employed in corporate or regional managing offices. They often work with sales, public relations, and product development staff.
Some of the things marketing managers might do:
- Initiate market research studies and analyze their findings to understand customer and market opportunities for businesses
- Develop pricing strategies for products or services marketed to the target customers
- Meet with clients to provide marketing or related advice
- Direct the hiring, training, or performance evaluations of marketing or sales staff and oversee their daily activities
- Consult with product development personnel on product specifications such as design, color, or packaging
- Analytical skills: Marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization.
- Communication skills: Managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process. They must also be able to communicate persuasively with the public.
- Creativity: Advertising, promotions, and marketing managers must be able to generate new and imaginative ideas.
- Decision-Making skills: Managers often must choose between competing advertising and marketing strategies put forward by staff.
- Interpersonal skills: Managers must deal with a range of people in different roles, both inside and outside the organization.
- Organizational skills: Marketing managers must manage their time and budget efficiently while directing and motivating staff members.
The average pay for marketing managers in the United States ranges from $74,620 to more than $208,000 as of May 2020.
The specific pay depends on factors such as level of experience, education and training, geographic location, and specific industry.
Employment of marketing managers is projected to grow 7 percent from 2019 to 2029, faster than the average for all occupations
Marketing managers will continue to be in demand as organizations use marketing campaigns to maintain and expand their market share.
These managers will be sought after for their advice on crafting pricing strategies and finding new ways to reach customers.
Most marketing managers need a bachelor’s degree. Courses in business law, management, economics, finance, computer science, mathematics, and statistics are advantageous. In addition, completing an internship while in school can be useful.
Discover some of the courses you will take pursuing a degree in Marketing.