Career Tracks is a tool set up to help you make the right decisions for your career in marketing. Career Tracks details the marketing careers available to you after graduation. It lets you know what these careers are like and presents to you advice on what courses and internships will best position you to sucessfully market yourself to a potential employer. Inside each of these links, you will find:
Advertising and Promotions lies at the heart of any marketing endeavor, and is the key tool through which a company communicates product and brand image information to it's customers. In recent years, marketing has shifted from a 'piecemeal' approach to advertising and promotion to a practice of 'Integrated Marketing Communications'. A well-designed IMC plan builds both short-term sales and long term brand equity, and ensures the company speaks with one voice and a consistent message to the target market. Indeed, an integrated marketing communications plan represents a marketer's greatest tool for developing and sustaining brand equity and identity.
Many advertising agencies have responded to this need for synergy and integration by consolidating numerous services from media planning services to interactive design boutiques under one roof. Many marketing research firms have responded by developing advanced techniques for measuring the psychological impact of advertising and promotional plans. And many companies have responded by reorganizing their product management around brand managers. These changes are also reflected in the amazing growth of advertising and promotional expenditures. From 1980 to 2005 advertising expenditures in the USA increased five-fold and sales promotion increased six-fold, while global advertising expenditures saw a similar six-fold growth in expenditures.
The advertising and promotion field is undergoing rapid change. Marketing dollars are shifting from broadcast media to sales promotion, targeted and interactive media are on the rise, retailers are gaining power over manufacturers, database marketing has become both accepted and integrated into overall marketing plans, and increasing demands for agency accountability have challenged traditional compensation methods. All of these changes have made it clear that in order to remain competitive, a company's marketing plan must be coordinated across multiple channels: advertising, sales promotion, public relations, direct marketing, internet and interactive marketing, and personal selling.
Types of positions that are of interest to BC undergraduates entering into advertising and promotion:
Product and Brand Management is the very heart of the Marketing discipline. Brand managers have P&L responsibility to maintain and grow specific products, product lines, and/or brands. They usually operate as part of a small brand-management team, consisting of a brand manager, an associate brand manager, and a brand assistant – sometimes they report in to a group brand manager, but usually a director of marketing. They have no formal reporting responsibility for, but nonetheless manage a circle of key relationships and functions that surround the brand: advertising agencies, promotion agencies, public relations, package design, product launch, production planning, channel strategy, licensing (e.g., Lucasfilm’s Star Wars), and product design. A capable brand manager has exceptional strategic, quantitative, interpersonal, and presentation skills and must be comfortable and confident with decision-making and be able to readily bring people to agreement and consensus. “Brand manager” and “product manager” are parallel titles. Consumer packaged goods companies usually use the title brand manager; technology-oriented companies usually use the title “product manager.’ Another related title is “category manager.”
Types of positions that are of interest to BC undergraduates entering into product management:
According to Johny K. Johansson in Global Marketing (3rd edition, McGraw-Hill, 2003), a marketing manager in today’s global market must be more than just a functional specialist; global marketing managers must develop skills to better understand the global marketplace and develop effective strategies. A global marketing manager has three different tasks: foreign entry, local marketing abroad and global management. Usually, global marketing managers start their careers by evaluating the new foreign markets they wish to enter. The next step in the typical career path of a global marketing manager is to manage the marketing in a particular foreign market. The last stage of the typical career path is coordinating global marketing efforts from the company’s center of operations. Global marketing managers may spend time abroad in order to learn more about the competitive atmosphere and cultural differences of a particular foreign country. While global marketing managers are pioneers in the sense that they embark on new opportunities and must be open-minded, it is imperative that they exercise caution. Antiglobalization concerns in many parts of the world result in environments that are hostile to foreign entrants.
According to Cooper and Schindler in Marketing Research (McGraw-Hill Irwin, 2006), Marketing Research is a systematic inquiry that provides information to guide marketing decisions. More specifically, as expanded by the American Marketing Association (AMA), it is a process of determining, acquiring, analyzing and synthesizing, and disseminating relevant marketing data, information and insights to decision makers in ways that mobilize the orgamnization to take appropriate marketing actions that, in turn, maximize business performance.
According to Lamb, Hair and McDaniel in Marketing (8th edition, Thomson South-Westernl, 2006), Retailing entails all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use. The retailing industry is one of the largest employers; over 1 million retailers employ more than 15 million people in the US, which is 11.7% of US employment. And nearly 13% of all US businesses are considered retail. A retail establishment can be classified according to its ownership, level of service, product assortment and price. Retailers use the latter three variables to position themselves in the competitive marketplace. These three variables can be combined in several different ways to create distinctly different retail operations and shopping experiences.
Services Marketing is rapidly emerging as one of the most challenging and cutting-edge specializations in the marketing industry. The service sector has surpassed manufacturing in terms of overall contribution to GDP and is currently one of the nation’s largest potential for growth. It is a unique branch of marketing that relates to the selling of intangible services as a core-product and catering to such industries as healthcare, financial services, hospitality, publishing, and construction. Often referred to as selling the invisible, services marketing challenges a manager to generate a total product image in the mind of the consumer without the benefit of a physical product to support the message. Services Marketing managers should be highly creative and must possess extraordinary interpersonal and presentation skills. They are frequently called upon to have a firm grasp on industry techniques, images and trends. Students pursuing this area of study should prepare to find themselves in a fast-paced, highly energetic, amorphous and often ambiguous environment. With the constant proliferation of disruptive technology marketing mediums such as podcasts and Myspace, aspiring Services Marketing managers will be need to be highly adaptive and constantly reevaluate marketing best-practices. Recent graduates typically enter the field as account executives, sales agents or marketing coordinators, depending on the industry. Current leading growth industries in the service sector include telecommunications, financial services, healthcare and new media.
Sports Marketing is the practice of utilizing teams, venues, athletes, sports events, and sports media to separate a brand from its competitors. For decades, Sports Marketing had been perceived as brand-centric, with many marketers aiming to build brands solely through impressions. Recently, Sports Marketing has migrated to a consumer-centric model with the inclusion of integrated initiatives and programs that interact with the consumer beyond brand awareness. Sports Marketers understand how to use the assets of sports entities individually, or in combination, to drive consumers to purchase products and services of a particular brand over another.
Many current Sports Marketing executives did not have access to formal sports marketing programs during their education. Many began their careers as interns and learned their skills on the job, or they came from another industry with a similar skill set. Only recently have more and more colleges added sports marketing programs, providing more specialized curriculum for those interested in this industry. While there are more programs available in sports marketing now, no formalized certifications or accreditations are necessary to enter this field. Because of this, entry-level positions in Sports Marketing pay poorly. Starting compensation ranges from $25,000 - $30,000 annually. However, Executive Sports Marketing positions for candidates with five or more years of experience can lead to mid to high six-figure salaries. Due to the nature of the business, there are no standard hours of operation and entry-level Sports Marketers have the opportunity to take on responsibilities beyond their experience and to see growth through flexibility and dedication to their position. Sports Marketers that possess both a business sense and a knack for the creative excel in the industry.