Marketing Managers

Determine 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.

Job Task

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

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