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Career Profile: Marketing Managers

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.

Salary and Outlook

According to the US Department of Labor, there are 293,700 people employed as marketing managers in the United States. The median annual salary is $142,200. Entry level employees earn approximately $74,620 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 pay, 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.

Career List

Job Outlook


Total Current Jobs:
293,700
Annual Openings:
28,500
Increase in Openings by 2030:
10%
Annual Salary Range:
$74,620 - $208,000
Education Requirements:
Bachelor's degree