Marketing Manager
Marketing Manager Job Description
Marketing managers are usually responsible for managing their companies’ products, if their companies do not employ product managers per se. They may study the sales and profits of various product lines. These professionals may then develop new product ideas, getting upper management’s approval if their companies have the engineering capabilities. Marketing managers may first draft a concept statement for the product, including various sizes, flavors, dimensions or styles. Subsequently, a marketing manager may hire an outside moderator to conduct focus groups on the products. They will work with the moderators, or interviewers, to develop discussion guides or questionnaires. The moderator will then arrange for consumers to participate in the focus group.
Focus groups help marketing managers better define their product concepts. The moderator will ask people how they like the product, what changes they would make and whether or not they would purchase the product. Participants in the focus group may also select their favorite concept if several are presented to them. Ultimately, the marketing manager will use this information to finalize his concept. He may then conduct phone surveys with larger groups of customers to determine the potential success of any new products.
Marketing managers also help determine prices for products. The price they use will largely depend on the product itself and the level of competition. For example, products with new technology like cell phones may warrant a higher price. Therefore, a marketing manager may enter a new product with a higher price. The higher price enables this professional to quickly recoup production and advertising costs, which are high when starting out. Marketing managers may also start with a lower price to quickly gain market share. That is, their goal is to secure as many customers as possible. Subsequently, they can offer specials on ancillary products or provide exceptional customer service to retain these customers.
Most marketing managers are also responsible for all advertising and distribution. A marketing manager of a restaurant company may use local television and radio advertising as well as coupon magazines to market his menu items. The marketing manager may also track his responses for all advertising to calculate his return on investment. These professionals also determine where their products are most likely to sell, including grocery, wholesale or specialty stores. A high end lavatory for a plumbing manufacturer would probably sell well in a kitchen and bath showroom, for example.
Marketing Manager Salary Statistics as of 2015
Average annual salary for a Marketing Manager is $60310 based on statistics in the U.S. as of 2015. The highest salary recorded was $100932. The lowest salary reported was $36684. These figures will vary on a state to state basis as these are averages across all 50 states.
Median hourly wage for a Marketing Manager is $16.545 based on statistics in the U.S. as of 2015. The highest hourly rate recorded was $25.39. The lowest hourly rate recorded was $7.7. These figures will vary on a state to state basis as these are averages across all 50 states.
Bonuses for a Marketing Manager are based on the years of experience using statistics from the U.S. as of 2015. The average bonus recorded was $5074 from people with 15+ years of experience. The average bonus recorded was $2056 from people with under 1 year of experience.
These are the highest paying states for a Marketing Manager. These numbers are based of the median annual salary as of 2015.
California – $40,906 – $100,620
Florida – $34,913 – $84,566
Illinois – $41,133 – $96,633
Massachusetts – $42,510 – $105,047
New York – $39,828 – $93,455
Texas – $37,854 – $101,956
Washington – $42,555 – $99,288
These are the highest paying cities for a Marketing Manager. These numbers are based of the median annual salary as of 2015.
New York, New York –
Chicago, Illinois –
San Francisco, California –
Seattle, Washington –
Los Angeles, California –
Atlanta, Georgia –
Boston, Massachusetts –
This chart outlines the average annual salary of a Marketing Manager from the past 5 years. In 2015 the average annual salary was $60310 while in 2007 it was just $55930.44
How To Become a Marketing Manager
Most companies prefer that their marketing managers have bachelor’s or master’s degrees in business, marketing or a related field. These professionals must also have excellent communication skills–both speaking and writing–as well as organizational, analytical, problem-solving and management skills. They may responsible for several direct reports or assistants. These marketing managers must occasionally evaluate their employees’ performance. They can then execute plans for developing their employees’ skills, preparing them for future promotions.
Job Outlook
Jobs for marketing and related managers are expected to increase 12 percent over the next decade, which is about average compared to other careers.
Gender Statistics |
Related Jobs |
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33%
67%
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Based on our stats gathered across the U.S. 33% of Marketing Managers were males while 67% were females. These numbers are based on averages across all states combined. Some individual states may have a much different ratio however.
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Past Jobs Marketing Coordinator |
Future Jobs Marketing Director |
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