What is Marketing?
Marketing encompasses four major processes known as the 4 Ps of Marketing which include: 1) choosing and developing a product, 2) deciding a price for the product, 3) selecting a channel to move the product to the consumer, and 4) promoting the product for sale. By gaining an understanding of consumer behavior marketers become aware of their demands and wants so they can make adjustments as necessary to their product selection. Additionally, they conduct marketing research where they study cultural, social, economic, and environmental factors that can have an effect on product or service development.
How to Succeed in Marketing?
For individuals to be successful in marketing, they must enjoy working in teams where they can organize different ideas to come up with an array of solutions. In addition, they must possess a creative mind so that they can produce advertising that is eye-catching and unique. For the most part, marketers are extroverts, which is necessary in order to attract clientele and sell their product or service. Being sociable allows them to build rapport with customers on a regular basis, so that they can provide excellent customer service.
Career Opportunities in Marketing
In the field of marketing, marketers can expect to find job positions as marketing managers, marketing coordinators, retail store managers, marketing directors, business development managers, and project managers. Additionally, they may explore options by being marketing research analysts, advertising managers, e-commerce managers, public relations managers, and brand marketing managers.
Salary Expectations - (United States Average)
Depending on the specialization and years of experience that an individual has, their salary will vary accordingly. Listed below are just some of the possible salary ranges for marketing majors with a level of experience of less than 1 year.
- Marketing Manager - $33,000 - $51,000
- Retail Store Manager - $27,000 - $40,000
- Research Analyst Manager - $42,000
- Online Marketing Manager - $47,000
- Logistics Manager - $36,000 - $51,000
- Public Relations Manager - $31,000 - 50,000
- Advertising Manager - $32,000 - $65,000
- Brand Marketing Manager - $68,000
- Business Developing Manager - $69,000
- General Sales Manager - $35,000 - $43,000