Welcome to an Exciting Marketing Career!

An Introduction to Professional Marketing

The Value of Foresight Rather Than Hindsight

A recent survey of marketing graduates yielded several hindsight regrets that are very relevant to marketing majors who are now making curriculum and career choices.

What Do Marketers Do?

Since the 1960's, marketing has become a dominant business philosophy. Founded on the principle that organizational objectives may be best achieved through the satisfaction of customer's needs and wants, the marketing concept now drives the strategic direction of almost all companies, both domestic and international. Generally, marketers become experts in understanding customers' needs and wants, while simultaneously meeting organizational objectives. Therefore, marketers often operate at the central core of the business and at high levels of responsibility.

The marketing profession is often a direct route to upper level management. In a recent survey of 1,000 companies, 30 percent of the Chief Executive Officers had sales and marketing backgrounds, followed closely by finance and accounting with 25 percent each, and manufacturing/operations with 21 percent. Because marketing's importance has risen over time in most companies, experts predict that marketers will dominate executive positions even more in the future.

Traditionally, a major marketing career path begins with a sales position. That is, a marketing graduate's first job would be as a sales representative, progressing to district sales management, on to national sales management, and finally to top marketing management. The principal reason for the success of this path is that marketers can most effectively and efficiently obtain the knowledge of customers, products, company, and competition needed to succeed in upper management.

Yet, although still very popular and viable, this traditional path is changing. Today, many companies desire marketing specialists with expertise in a number of associated functional areas. For example, marketing professionals with a background in computer science are needed to create marketing information systems. Marketers with a strong background in statistics and measurement are needed for marketing research. Marketers with multi-cultural understanding and foreign language skills are needed for international marketing efforts. Marketers with technological skills and an ability to use the Internet as a marketing tool are also in demand.

In addition, many companies need marketing graduates with expertise in their specific industry. Many marketing students are able to convert avocations (sports, hobbies, crafts, etc.) and part-time jobs into viable career opportunities. For example, a student with artistic skills might secure a position with a print and lithographic distribution company. Without a doubt, specialized product knowledge combined with expertise in marketing makes many students very attractive candidates to some companies. Because such companies are often small and specialized, they do not come to campus recruiting students, and as a result, many students do not pursue them as career options. However, such opportunities can be located with some effort; and, once located, such positions can be very lucrative and personally rewarding. Clearly, the most successful marketing students are those that develop an expertise in a specialty area, whether it be knowledge of a particular industry or a functional area of business. By creating a differential advantage over other candidates, highly qualified candidates are more vigorously recruited and command much higher salaries. Also, recent trends that lead to companies outsourcing specialized marketing skills have improved the opportunities for marketing specialists.

Salary

Starting salaries are relatively high in marketing but vary greatly. The initial salary offered a candidate is largely a function of the position being filled and the attractiveness of the candidate. Some companies recruit students for their ultimate leadership capabilities, while other companies recruit to fill functional positions. Companies who approach recruiting from a long-term, managerial development perspective tend to be very selective and pay the higher salaries necessary to attract high quality candidates. On the other hand, some positions do not require specialized skills. As a result, these companies do not have to be as selective in recruiting and can offer lower salaries.

In 1994, annual salary offers received by most UNO marketing graduates were between $24,000 and $34,000. After the initial training and indoctrination period, salaries for productive, successful marketing professionals typically rise more rapidly than for other functional areas of most companies. Commissions and profit sharing plans add significantly to the base salary of many marketing positions, and with increased responsibilities that accompany promotions, salaries rise very rapidly. For example, managers of larger retail stores generally earn between $50,000 and $125,000 including bonuses. Experienced sales representatives for industrial companies often earn salaries in excess of $100,000. Marketing management salaries are generally highest in marketing-oriented consumer and industrial products companies.

Advancement Possibilities

Organizations may have substantially different advancement criteria. However, contrary to popular beliefs, promotions are generally based on objective, performance-related information. While getting along with co-workers and managers is important, ability to perform the job well and a dedication to getting the job done, regardless of the time and effort involved, are generally the critical components in promotion decisions. Most professionals in the early portion of their career, regardless of functional area, must work long hours and put forth significant effort to succeed. Later, promotions tend to be more related to criteria such as: 1) the expansion of the company and/or the management team, and 2) demonstrated ability to take on greater responsibility and authority.

Creativity and Challenge

The corporate environment is changing faster than ever. Dynamic change threatens even the largest and most stable companies. Times such as these represent major opportunities for competent, aggressive, innovative marketing graduates. The rate of new product introduction has never been greater, as companies strive to maintain competitive advantage. Marketers play a critical role in identifying new markets, and inventing creative approaches for pricing, promoting, and distributing goods and services to these markets. The key is creativity and a willingness to pursue risks. Your education provides a framework within which to develop this orientation.