What is the remuneration package for a Marketing Manager?

The salary of a Marketing Manager is high considering the fact that they carry out important and stressful functions for the organization. However, the salary varies in terms of geographical location, area of employment, experience etc.

The average median salary of a Marketing Manager is estimated to be $102,035 annually while the lowest ten percent of professionals in this field earn up to $62,829 per year, the top ten professionals receive salary more than $116,014. Apart from this, marketing professionals are also given bonus for their extraordinary achievements which ranges from $978 – $15,311 per year and they also receive commission which ranges around $1,500 – $24,978 annually. Thus increasing the average salary bracket to around $65,000 to $1, 17,134.

Experience also is an important factor to determine the salary of this professional. Professionals with less than one year of experience in this field earn salary ranging around $26,309 – $61,674 per annum while those with experience of one to five years earn salary ranging around $31,396 – $70,374 annually.

Geographic location is another important determinant for quoting salaries for Marketing Managers. While a professional working in the state of Texas earns a salary ranging around $34,395 – $101,259 annually and on the other hand a professional employed in Florida earns salary ranging around $33,792 – $86,469 for a year. The difference in salary is because of the different economic rate and also the demand for professionals varies from state to state.

Salary of a Marketing Manager may also depend on his area of employment. It is observed that a Marketing Manager employed with a company earns a salary ranging around $37,455 – $95,798 and the same employee employed in a local, state or federal government agency earns salary ranging around $32,553 – $84,764 annually. The difference is because the nature and scope of activities differs from industry to industry.

Apart from traditional salaries Marketing Managers also enjoy benefits and perks which include paid vacations, paid sick leaves, health and life insurance policies, education reimbursement fee etc to encourage them in their profession to do their best.

What is the certification and licensure given to a Marketing Manager?

Certification is not mandatory for this profession. However, a certification and licensure as a Marketing Manager will prove helpful to climb the hierarchal stairs of the profession easily. Preference is given to candidates who have a certification and also the salary of a certified and licensed professional is comparatively higher.

Candidates can apply for a certification after their completion of master’s education which specializes the students in one particular area of the profession. Certification is given by the state depending on the area of specialization by the candidates who apply for certification.

There are certain formalities to be completed to apply for certification. The candidate must have completed a master’s degree at the time of applying. Experience during the last semester under an experienced marketing agency is required.

Once the applications are checked and verified, the student has to appear for an examination which is conducted at the state level. There is a particular pass percentage which is determined by the state as qualifying marks. This qualifying percentage varies with every state. If you pass the examination, certification is acquired known as Certified Marketing Managers. Candidates, who did not pass the examination, may appear for a re-test.

Educational Requirements:

The job of a Marketing Manager requires potential educational qualities and skills. This is not an easy job and demands high end degrees. Following are the educational qualifications required for a Marketing Manager:

• The position of a Marketing Manager requires a bachelor’s degree in business or marketing related fields or any equivalent professional qualification. However, a Master’s in Business Administration (M.B.A) would give a candidate direct entry to this position.
• During their college education candidates are expected to experience in all aspects of marketing such as developing and maintenance of marketing strategies. For this purpose, they should do an internship program in the marketing department of a reputed firm.
• These apprentice or internship programs helps to brush the technical skills in the candidates instilling in them a clear picture of all job environment, duties and responsibilities that a Marketing Manager> holds. They also tend to learn customer service relations during this course of experience time by helping them analyze the market.
• Candidates who apply for this post must have relevant knowledge about the various products and services available in the market combined with industry knowledge. Through experience they also learn the use of automated software applications.
• Candidates with a master’s degree have a direct entry to this posit whereas a bachelor’s degree in business appoint you to smaller posts and with experience and achievements on the resume you tend to climb the steps to the position of Marketing Manager.
• Additional training, conferences, diplomas and degrees in the field of marketing and business proves helpful as they polish technical skills required for the post of a Marketing Manager.

Skill Set:

Apart from educational qualifications, they are certain other skills required to be a Marketing Manager. Following are some of the skills and abilities to excel in this profession:

• Marketing Managers must have the ability to understand and interpret the basic standards of statistical and graphical representation of data in order to analyze the market conditions and information.
• They should have the ability to work under pressure completing assignments within a given period of time.
• Excellent oral and written communication skills are required for this position as they deal with communicating with the external public to extract information about their needs and written skills are essential as they are given the responsibility to prepare reports for their research programs.
• These professionals must have the ability to think analytically, grasp problems quickly and solving problems with a reasonable approach.
• They should have ability to interpret market situations and must be able to develop market strategies for the company.
• Marketing managing professionals must be flexible to change adapting to new innovations.
• Knowledge of all the basic concepts of financing, computer automated software’s, logistics and also the psychology of people in the marketing management area.
• They should keep themselves updated with all the laws, rules and regulations regarding the marketing campaigns and also marketing ethics.
• Most often, Marketing Manager’s work with a group of people and as such they are expected to possess considerate amount of team leadership skills combined with decision-making skills.
• They need to have high level of stress tolerance, persuasiveness and collaboration of work opportunities.

What does a Marketing Manager do?

A Marketing Manager forms the head of the marketing team and as such he is vested with a wide range of duties and responsibilities to perform. All the other peers in this department, report regarding their work to the Marketing Managers and they have the final say to implement any marketing program in an organization. Following are some of the duties of a Marketing Manager.

Duties:

• The primary duty of a Marketing Manager is to develop annual marketing plans for the organization by balancing the company’s objectives and satisfying the customers. These reports are prepared with the coordinated efforts of both, the Marketing Manager and the sales department.
• They are involved in conducting marketing research plans by pointing out the specifications in relation with new products. These research plans also prove useful in determining the present and future market requirements.
• It forms the duty of the Marketing Manager to analyze the customer requirements, market trends and all the information related to potential competitors to the company. Based on this analysis they develop and implement strategies within the company.
• The duty to negotiate prices with contractors lies in the hands of a Marketing Manager. This professional finalizes on the deals with vendors and distributors in product distribution by making using of his distribution networks in the industry.
• They predict the market sales and ensure safety and profitability of products by developing business operations and monitoring the market trends.
• Marketing Managers advise the business operations at the local, national and international level with factors that effects the buying and selling of services.

Responsibilities:

• An important responsibility of the Marketing Manager>is to direct the training and evaluation programs in order to groom the professionals with the marketing and sales techniques and tactics.
• They are responsible to consult with the key members of the product development professionals to gain knowledge on the product specifications which includes the packaging, color and design.
• It forms the responsibility of the Marketing Manager to participate in all the promotional activities taken up by the organization and coordinate with professionals during these events that include the advertisers, production managers designers etc.
• Marketing Managers take the responsibility of conducting economical and commercial experimentations which helps to identify the potential market products and services.
• They stand responsible to work with the legal staff of the organization to collectively resolve legal problems which may arise while sharing the copyright royalty with outsiders such as producers, customers or distributors.
• These professionals are responsible for delivering marketing activities and pricing strategies within the agreed budget

An overview of the job of a Marketing Manager:

Marketing Manager are professionals who help to analyze the plan and implementation of sales operations and marketing techniques in an organization. These managers monitor the trend of the market and make necessary efforts by responding to the marketing trend. The main aim of this professional is to increase the profits by retaining the customers of an organization. Marketing Managers most often work hand-in-hand along with the sales managers and their typical work activities include overseeing the advertising, marketing and the promotional activities of all the staff inside the organization. They are professionals who design a marketing strategy for the company from the assistance of the sales department identifying the company’s products and services. They work towards eyeing for an increase in the profits by maximizing shares and keeping the external publics satisfied.  These professionals are involved in establishing long term strategies in order to meet the organizational goals.

They are involved in evaluating customer related research surveys, competitor’s strength and data and also the implementation of marketing plans as and when needed by the company. They are responsible for building an accurate program plan within the resources available. Information for building a program plan must be gathered from various questionnaires which are focused on groups, internet networking etc. This information is reviewed by using a scientific statistical approach. Marketing Managers develop marketing plans and this plan must give out information to all the necessary members of the organization who refer to it and it must be updated at frequent intervals. The reason for developing a marketing plan is to structure into one building all the elements of marketing. This profession requires some excellent competencies to be able to function successfully and establish a name in the industry. The position of a Marketing Manager is dynamic and requires much energized candidates who can work quickly with numerical, accurately under pressure. The scope of employment of these employers is fair with high ranging salaries. However, pay package of Marketing Manager depends largely on their education, area of employment and experience in the industry.