Should You Consider A Career in Marketing?

Should You Consider A
Career in Marketing?
EXPLORING CAREER PATHS,
JOB RESPONSIBILITIES AND
IDEAL FIT
Agenda
 Potential Career Paths in Marketing
 Job Responsibilities/ By Job
 Ideal attributes for a successful……..
 How do you attract an employer’s attention?
Marketing – A Definition
Marketing is the activity, set of institutions,
and processes for – creating, communicating,
delivering and exchanging offerings that have
value for customers, partners and society @
large.
-The American Marketing Association
Breakdown of Major Marketing Functions
 Brand Management
 Marketing Management
 Advertising/Media
 Public Relations
 Pricing
 Marketing Consulting
 Market Research
Possible Marketing Job Titles
• Product / Program Manager
• Marketing Analyst
• Industry/ Segment Marketing Manager
• Product / Program – Launch Manager
• Competitive Programs / Strategy Manager
• Technical Marketing Manager
• Marketing Strategy / Planning Manager
• Training Programs Manager
• Customer Engagement Manager
• Channels Marketing Manager
• Business Development Manager
• Pricing Manager
• Marketing Operations Manager
Lets answer some basics together:
 What is the main goal of the
marketing function in any
organization or industry?
 What is a brand?
Brand Management
Brand Management
 Main function in companies that sell multiple
consumer products
 Role performed typically in B2C firms
 Consumer Packaged Goods firms = “CPG”
firms
 Brand Manager is the firm’s “quarterback” for
each product line
Functions of a Brand Manager
promotions
Manufacturing
Product
development
financials
Brand
Manager
Business
forecasting
Advertising
pricing
media
Market
research
Strategy
development
Package design
Are you interested in general management
or entrepreneurship?
 Brand Management may be the career for you
 Re-examine
previous slide - is this what you would
envision in that career path?
 If
you are creative, and interested in general
management, look further into this career path
• Re-define “creative” to “outside-the-box” thinker – is
this you?
• Our CPG companies would love to find more candidates
from Simon interested in this field
Do you have to love the product?
What do you think?
Barriers to Entry for Internationals
 Most CPG firms “don’t interview” or “hire”
International Students for US-based Brand
Management positions!!
 Options to consider if international:
 - Identify domestic US companies that have
Global Operations
- Identify Foreign based companies for
opportunities
- Look for related marketing jobs in CPG firms
Analytical Tools of Brand Managers
 The 4 C’s to perform a market assessment –
Context (macro-economic factors), Company
(mission, SWOT analysis, finances), Customer
(target, segmentation) and Competitor
Analysis
 The 4 P’s when you are preparing a plan of
action/recommendation – Product, Price,
Placement, Promotion
 A 5th “P” – People (target customer)
Analytical Tools of Brand Managers (cont.)
 Break-even analysis
 Unit Contribution
 Unit Cost
 Total Contribution
 Perceptual Mapping
 Market Opportunity Analysis
 Segmentation Analysis
 MARCOM Evaluations
Attributes of a Brand Manager
 Leadership
 Energy/Enthusiasm
 Follow-through
 Good Communications
 Creativity
 Analytical - driven to “prove” your idea
 Teamwork, teamwork, teamwork
 Flexible, open-minded
 Interpersonal Skills
 Follow Up/ Follow Through/ Details Management
 General Manager Thought Process
 Can you demonstrate these traits on your resume?
Career Progression in Brand Management
 Assistant Brand Manager
 Associate Brand Manager
 Brand Manager
 Category Manager
Common Mistake
 MBA students interested in marketing think
there are only two types of marketing positions
– market research or brand management.
 Open your mind to the marketing function in all
companies and all industries, for example:
 Marketing in a commercial bank
 Marketing for a medical device manufacturer
 Marketing for a portfolio management firm
Marketing Manager/Product Manager
 Similar to a brand manager, but performed
within a B2B firm or a B2C that has fewer
consumer products than a CPG firm.
 Marketing managers might manage a
product or an intangible service
 In high tech industries, and others, the main
marketing function for each product is
handled by a Product Manager
How Do You Know the Titles of the Marketing
Positions in a Firm You Are Interested In?
????
Advertising/Media Management
 Employment provided by
advertising agencies, typically
 Advertising - connecting a product
strategy to the end consumer
 MBA not required
 Teams with
brand/marketing/product
managers from client firms
Media
 Media planning, Media Buying,
Account Management,
ProjectManagement, Sales
Promotion Manager, PR Manager
Media (cont.)
 Growth area in terms of specialization
 Why? Explosion of channels that can be used
for advertisement
Multiple television channels
 Multiple radio outlets – traditional or satellite
 Internet sites
 Print media
 Social media
 Company website

 How much should be spent on each channel,
if any?
Advertising/Media
o Ideal attributes:
o
o
o
o
o
o
o
o
High energy level for multi-tasking
Creativity
Think-on-your-feet / Excellent Customer
Interface Skills
Sales savvy
Strong negotiator
Organized thoughts and deeds
“Peaks & Valleys” – Intensity and Tight Dead
Lines
Team Player & Individual Contributor –
Different times
Public Relations
 Protector and promoter of a company’s
image
 MBA not required
 Ideal attributes:
 Strategic
thinking
 Think on-your-feet / Customer interface skills
 Excellent written and oral communication skills
 Politically savvy within the industry
 Becoming more and more important to the firm
 Media area understanding
Pricing
 The forgotten “P”
 Function is part of marketing team in
some companies, and part of the
finance team in others.
 Emerging growth area
 Simon expertise
 Interested in marketing but highly
analytical? This field might be for you
Pricing Titles/Attributes
 Job function titles include – pricing manager,
product pricing manager, VP of Pricing, pricing
specialist, CPO ( Chief Pricing Officer)
 Key Attributes:
Analytical
 Able to defend your position
 Ability to influence without authority
 Good Negotiator
 Detail-oriented (lower levels), strategic (higher
levels)
 Excellent Communication Skills

Marketing Consulting
 Learn marketing ropes first, then consider
sharing your expertise with others
 Key attributes:
 Customer-savvy
 Ability to sell and negotiate
 Strategic thinker / Creative Problem Solver
 Excellent communications skills
 Experience in marketing/specific industry
 More on careers in consulting tomorrow
Market Research
 Market researchers test new product
concepts, product names, and market
positioning.
 Researchers focus on how and why
consumers behave the way they do.
 Researchers convert raw data and
surveys into conclusions and insights
using analytical tools
Market Research
 Employed by CPG firms for their internal
departments, or market research firms
 CPG firms, Market Research firms
 Advertising Agencies, B2B Fortune 500 firms,
Consulting Firms, Government agencies
 Key Attributes:
 Curious about consumer behavior
 Analytical
 Detail-Oriented
 Unbiased/Open-minded
 Ability to synthesize a wide variety of input
and research into trends and conclusions
Getting an Employer’s Attention
 Do your homework, know the company you
are interested in Interviewing with – inside out
 Know why THIS company is the company you
prefer – vs – some of the other companies in
perhaps the same industry
 Be knowledgeable about the various Job
Titles/ Positions in the Functional area in
Marketing you are interested in.
Getting an Employer’s Attention
 Attend all company presentations
 Research specific companies you are
interested in, and be able to defend
why they are special to YOU
 Spend a lot of time on your cover
letters – they prove creativity, ability
to sell – key attributes for many
marketing positions
Getting an Employer’s Attention
 Be ready for case interviews – practice,
practice, practice
 Most common mistake – students don’t use
what they are learning in school when
answering questions in interviews, solving
marketing cases in competitions, etc.
DON’T GIVE ANSWERS THAT ANY PERSON ON
THE STREET COULD PROVIDE!!
Importance of Questions
DEMONSTRATE YOUR
INTEREST THROUGH
DEVELOPMENT OF GOOD
QUESTIONS
LET’S WORK ON THIS TOGETHER