Should You Consider A Career in Marketing? EXPLORING CAREER PATHS, JOB RESPONSIBILITIES AND IDEAL FIT

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1 Should You Consider A Career in Marketing? EXPLORING CAREER PATHS, JOB RESPONSIBILITIES AND IDEAL FIT

2 Agenda Potential Career Paths in Marketing Job Responsibilities/ By Job Ideal attributes for a successful.. How do you attract an employer s attention?

3 Marketing A Definition Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, partners and large. -The American Marketing Association

4 Breakdown of Major Marketing Functions Brand Management Marketing Management Advertising/Media Public Relations Pricing Marketing Consulting Market Research

5 Possible Marketing Job Titles Product / Program Manager Marketing Analyst Industry/ Segment Marketing Manager Product / Program Launch Manager Competitive Programs / Strategy Manager Technical Marketing Manager Marketing Strategy / Planning Manager Training Programs Manager Customer Engagement Manager Channels Marketing Manager Business Development Manager Pricing Manager Marketing Operations Manager

6 Lets answer some basics together: What is the main goal of the marketing function in any organization or industry? What is a brand?

7 Brand Management

8 Brand Management Main function in companies that sell multiple consumer products Role performed typically in B2C firms Consumer Packaged Goods firms = CPG firms Brand Manager is the firm s quarterback for each product line

9 Functions of a Brand Manager promotions Manufacturing pricing financials Business forecasting Brand Manager Product development Strategy development Advertising media Market research Package design

10 Are you interested in general management or entrepreneurship? Brand Management may be the career for you Re-examine previous slide - is this what you would envision in that career path? If you are creative, and interested in general management, look further into this career path Re-define creative to outside-the-box thinker is this you? Our CPG companies would love to find more candidates from Simon interested in this field

11 Do you have to love the product? What do you think?

12 Barriers to Entry for Internationals Most CPG firms don t interview or hire International Students for US-based Brand Management positions!! Options to consider if international: - Identify domestic US companies that have Global Operations - Identify Foreign based companies for opportunities - Look for related marketing jobs in CPG firms

13 Analytical Tools of Brand Managers The 4 C s to perform a market assessment Context (macro-economic factors), Company (mission, SWOT analysis, finances), Customer (target, segmentation) and Competitor Analysis The 4 P s when you are preparing a plan of action/recommendation Product, Price, Placement, Promotion A 5 th P People (target customer)

14 Analytical Tools of Brand Managers (cont.) Break-even analysis Unit Contribution Unit Cost Total Contribution Perceptual Mapping Market Opportunity Analysis Segmentation Analysis MARCOM Evaluations

15 Attributes of a Brand Manager Leadership Energy/Enthusiasm Follow-through Good Communications Creativity Analytical - driven to prove your idea Teamwork, teamwork, teamwork Flexible, open-minded Interpersonal Skills Follow Up/ Follow Through/ Details Management General Manager Thought Process Can you demonstrate these traits on your resume?

16 Career Progression in Brand Management Assistant Brand Manager Associate Brand Manager Brand Manager Category Manager

17 Common Mistake MBA students interested in marketing think there are only two types of marketing positions market research or brand management. Open your mind to the marketing function in all companies and all industries, for example: Marketing in a commercial bank Marketing for a medical device manufacturer Marketing for a portfolio management firm

18 Marketing Manager/Product Manager Similar to a brand manager, but performed within a B2B firm or a B2C that has fewer consumer products than a CPG firm. Marketing managers might manage a product or an intangible service In high tech industries, and others, the main marketing function for each product is handled by a Product Manager

19 How Do You Know the Titles of the Marketing Positions in a Firm You Are Interested In?????

20 Advertising/Media Management Employment provided by advertising agencies, typically Advertising - connecting a product strategy to the end consumer MBA not required Teams with brand/marketing/product managers from client firms

21 Media Media planning, Media Buying, Account Management, ProjectManagement, Sales Promotion Manager, PR Manager

22 Media (cont.) Growth area in terms of specialization Why? Explosion of channels that can be used for advertisement Multiple television channels Multiple radio outlets traditional or satellite Internet sites Print media Social media Company website How much should be spent on each channel, if any?

23 Advertising/Media o Ideal attributes: o High energy level for multi-tasking o Creativity o Think-on-your-feet / Excellent Customer Interface Skills o Sales savvy o Strong negotiator o Organized thoughts and deeds o Peaks & Valleys Intensity and Tight Dead Lines o Team Player & Individual Contributor Different times

24 Public Relations Protector and promoter of a company s image MBA not required Ideal attributes: Strategic thinking Think on-your-feet / Customer interface skills Excellent written and oral communication skills Politically savvy within the industry Becoming more and more important to the firm Media area understanding

25 Pricing The forgotten P Function is part of marketing team in some companies, and part of the finance team in others. Emerging growth area Simon expertise Interested in marketing but highly analytical? This field might be for you

26 Pricing Titles/Attributes Job function titles include pricing manager, product pricing manager, VP of Pricing, pricing specialist, CPO ( Chief Pricing Officer) Key Attributes: Analytical Able to defend your position Ability to influence without authority Good Negotiator Detail-oriented (lower levels), strategic (higher levels) Excellent Communication Skills

27 Marketing Consulting Learn marketing ropes first, then consider sharing your expertise with others Key attributes: Customer-savvy Ability to sell and negotiate Strategic thinker / Creative Problem Solver Excellent communications skills Experience in marketing/specific industry More on careers in consulting tomorrow

28 Market Research Market researchers test new product concepts, product names, and market positioning. Researchers focus on how and why consumers behave the way they do. Researchers convert raw data and surveys into conclusions and insights using analytical tools

29 Market Research Employed by CPG firms for their internal departments, or market research firms CPG firms, Market Research firms Advertising Agencies, B2B Fortune 500 firms, Consulting Firms, Government agencies Key Attributes: Curious about consumer behavior Analytical Detail-Oriented Unbiased/Open-minded Ability to synthesize a wide variety of input and research into trends and conclusions

30 Getting an Employer s Attention Do your homework, know the company you are interested in Interviewing with inside out Know why THIS company is the company you prefer vs some of the other companies in perhaps the same industry Be knowledgeable about the various Job Titles/ Positions in the Functional area in Marketing you are interested in.

31 Getting an Employer s Attention Attend all company presentations Research specific companies you are interested in, and be able to defend why they are special to YOU Spend a lot of time on your cover letters they prove creativity, ability to sell key attributes for many marketing positions

32 Getting an Employer s Attention Be ready for case interviews practice, practice, practice Most common mistake students don t use what they are learning in school when answering questions in interviews, solving marketing cases in competitions, etc. DON T GIVE ANSWERS THAT ANY PERSON ON THE STREET COULD PROVIDE!!

33 Importance of Questions DEMONSTRATE YOUR INTEREST THROUGH DEVELOPMENT OF GOOD QUESTIONS LET S WORK ON THIS TOGETHER

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