What do Marketing Managers do?
Plan, direct, or coordinate marketing policies and programs, such as determining the demand for products and services offered by a firm and its competitors, and identify potential customers. Develop pricing strategies with the goal of maximizing the firm's profits or share of the market while ensuring the firm's customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.
- Formulate, direct and coordinate marketing activities and policies to promote products and services, working with advertising and promotion managers.
- Identify, develop, or evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
- Direct the hiring, training, or performance evaluations of marketing or sales staff and oversee their daily activities.
- Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections.
- Develop pricing strategies, balancing firm objectives and customer satisfaction.
- Compile lists describing product or service offerings.
- Initiate market research studies or analyze their findings.
- Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
- Coordinate or participate in promotional activities or trade shows, working with developers, advertisers, or production managers, to market products or services.
- Consult with buying personnel to gain advice regarding the types of products or services expected to be in demand.
- Conduct economic or commercial surveys to identify potential markets for products or services.
- Select products or accessories to be displayed at trade or special production shows.
- Negotiate contracts with vendors or distributors to manage product distribution, establishing distribution networks or developing distribution strategies.
- Consult with product development personnel on product specifications such as design, color, or packaging.
- Advise business or other groups on local, national, or international factors affecting the buying or selling of products or services.
- Confer with legal staff to resolve problems, such as copyright infringement or royalty sharing with outside producers or distributors.
- Consult with buying personnel to gain advice regarding environmentally sound or sustainable products.
- Develop business cases for environmental marketing strategies.
- Integrate environmental information into product or company marketing strategies, policies, or activities.
- Recommend modifications to products, packaging, production processes, or other characteristics to improve the environmental soundness or sustainability of products.
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