Career Profile: Marketing Managers

Salary and Outlook

According to the US Department of Labor, there are 319,000 people employed as marketing managers in the United States. The median annual salary is $135,030. Entry level employees earn approximately $77,680 per year and senior employees earn approximately $208,000 (or more) per year.

Estimates do not include other potential benefits such as health insurance, overtime, or retirement benefits that may be offered by employers.

Job Duties

• Identify, develop, or evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
• Consult with product development personnel on product specifications, such as design, color, or packaging.
• Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
• Negotiate contracts with vendors or distributors to manage product distribution, establishing distribution networks or developing distribution strategies.
• Coordinate or participate in promotional activities or trade shows, working with developers, advertisers, or production managers, to market products or services.
• Initiate market research studies, or analyze their findings.
• 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 the types of products or services expected to be in demand.
• Formulate, direct, or coordinate marketing activities or policies to promote products or services, working with advertising or promotion managers.
• Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections.
• Consult with buying personnel to gain advice regarding environmentally sound or sustainable products.
• Conduct economic or commercial surveys to identify potential markets for products or services.
• Recommend modifications to products, packaging, production processes, or other characteristics to improve the environmental soundness or sustainability of products.
• Advise business or other groups on local, national, or international factors affecting the buying or selling of products or services.
• Select products or accessories to be displayed at trade or special production shows.
• Develop business cases for environmental marketing strategies.
• Integrate environmental information into product or company marketing strategies, policies, or activities.
• Develop pricing strategies, balancing firm objectives and customer satisfaction.
• Compile lists describing product or service offerings.
• Direct the hiring, training, or performance evaluations of marketing or sales staff and oversee their daily activities.

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