To learn how to cash in on the marketing craze. Discover what it takes to make a foray into various fields of marketing. Marketing is the bread and butter of our lives. It cannot be restricted to merely selling commodities. Everything that we do revolves around marketing in some form or the other. In school, we are groomed to market ourselves to the world. People position themselves as brands. They seek to market themselves to various colleges seeking further education. The marketing does not stop after graduation or post graduation. Individuals then market themselves to various companies for their dream jobs. Marketing plays an equally important role in businesses. Marketing is conducted in various ways but its sole purpose is to educate the customer and to help build products and services that the customer wants. It is a study option at graduate and post-graduate levels, and, under Marketing, there are several fields to specialise in. These include market strategising and planning, advertising, promotions and PR, media relations, product development, distribution and research. Here are some insights into the various jobs in the field of marketing.
The role of a marketing executive is multi-faceted. Such an executive would have to build relationships between a range of stakeholders—customers and suppliers. Marketing executives are involved in strategy-making for advertising, media, distribution of marketing materials, maintaining mailing databases, event management, etc. Though an ideal educational profile for a job in marketing would be a Master in Business Administration (MBA) in marketing or operations, any post-graduate who has a flair for multi-tasking and working in groups can apply for a job as a marketing executive. There are various career options available to a budding marketing executive. Some of them have been listed below.
Market Research
Market research is crucial to any marketing success story. Companies have dedicated departments for market research and are staffed with research analysts. The role of a marketing executive, as a research analyst, is to collect data on various companies, with regard to their existing products and services. The researcher then evaluates and targets potential markets, identifies both direct and indirect competitors, and researches overall market conditions. The focus of the research is to identify factors that affect the bottom line and top line of the company. Market research is also concerned with understanding consumer behaviour. Research analysts conduct studies to judge a product's effectiveness and understand the motivational factors behind any purchase decision. The ideal profile for a marketing executive interested in research would be an MBA with skills in both qualitative and quantitative analysis. Students who have carried out marketing surveys during their graduation or post-graduation are also favoured for this profile.
Direct Marketing
Direct marketing is a form of promotion in which highly personalised messages are created and delivered to customers. Job responsibilities for a marketing executive in direct marketing can range from gathering data to populating various databases, managing the databases, creating strategies to further the client's sales targets and objectives, or assisting in the creation of communication strategies for the client. Direct marketing firms prefer people with some understanding about branding, advertising, etc. Either a graduation degree in a media course such as Bachelor of Mass Media (BMM), a post-graduate diploma, or an MBA is preferred.
Advertising, PR & Event Management
Another option for a marketing executive would be to seek a career in the field of advertising. A marketing executive can bring his market research skills into the field of account planning, where he would research current market conditions and challenges and help to formulate strategies to meet the client's goals. Similarly, a marketing executive can use his knowledge of the customer to help develop events that are focussed on the specific needs of the customer and what he requires. It also helps him to deal with the media, handle complaints, and aid in building a corporate image. The ideal qualification for a person in advertising would be graduation in a media course, a Bachelor's degree in English or an MBA. For a PR position, the ideal person should have some understanding about communications, be good at writing and, possibly, a background in journalism.
Sales & Retail
With retail booming around the world, the retail industry is an ideal place to start one's marketing career in the service industry. Retail is an excellent way to understand what the customer wants. As a new marketing MBA, the job responsibilities would include spending time on the shop floor for store management, helping in inventory management, and developing store layout for merchandising management. Careers in retail are highly people oriented and are fast paced. Sales opportunities are available in a wide range of companies that are both, profit or non-profit making in nature. These may include financial, insurance, consulting, and government organisations.
Product Planning
New product development is one of the pivotal fields of marketing. Companies invest a vast amount of time and resources to develop products that the customer wants. This is a forerunner to brand and product management. Skills that an employee would look for would include a good background in marketing, marketing research, and sales forecasting. The ideal candidate would have multitasking and organisational skills, and the ability to motivate a team and coordinate with others. In certain fields, a technical background may be a requisite.
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