Download What is Marketing? - Columbia Business School

Marketing 101
Careers in Marketing
October 28, 2011
Tricia Baione ‘09
Career Management Center
Follow @ColumbiaBizCMC on Twitter
What is Marketing?
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The intermediary function between product development and sales
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It’s the marketer’s job to ensure consumers look beyond price and
functionality when weighing consumption options
– Create, manage and enhance brands
– Want the consumer to ask: “Which brand helps me look and feel my
best? Which brand can I trust?”
– Goal = Own share of mind
●
Marketers must understand needs, preferences and constraints that
define a target group or market niche
– Customers versus Consumers
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Determining how to keep and expand share is central
2
What is a Career in Marketing?
Brand/Product Management
Business Development
Marketing has many
iterations and can include
a range of
Digital/Direct Mail
job opportunities
across industries
Advertising
Market Research
Consulting
Strategy
Merchandising
Communications/PR
3
Brand Management
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Key Function in Consumer Packaged Goods (CPGs), Pharmaceuticals,
Financial Services and Technology
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Considered best training for long-term marketing careers
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In large CPGs, such as Unilever and Kraft, brand managers move brands
to develop experience on both large & small, new & established brands
●
Hub of Wheel ≠ Small Business CEO (Don’t get hands dirty)
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Focus on big picture of brand/brand family
– Distill brand essence
– Map competitive landscape to identify opportunities
– Analyze financial, research data to develop marketing strategy
– Ensure other functions work in concert to implement brand strategy
– Communicate unique benefits to consumers
4
Advertising
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Marketing consultant who helps the client with all aspects of its
marketing efforts-everything from strategy to concept to execution
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Business side of advertising (versus creative or production)
– Account Manager, Account Planner, Media Planner
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Online Advertising: creative and technical development (banners, rich
media, video, text), digital media planning & buying, search marketing
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Strategy: With more agencies providing integrated marketing solutions,
internal strategy teams help guide client efforts.
5
Direct Marketing
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Using customer databases to develop segmentations and targeted
one-on-one marketing strategies
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Traditionally associated with magazine circulation, catalogues and
credit card offers
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Research/Analytics: MBAs often do deep dives into the numbers for
digital and direct marketing agencies
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Today is especially applicable to the Internet where firms use direct
marketing techniques and strategies to drive sales
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eCRM, email marketing, SMS, e-commerce, analytics, reporting, and
optimization
6
Digital Marketing
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Digital Strategy: Marketing strategy, digital branding strategy, digital
business modeling, user research, customer segmentation
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Brand Experiences and Platforms: Cross-platform user experience
design and development (web, mobile, gaming, interactive/IP TV, instore, out-of-home) and branded content & entertainment
7
Market Research
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Marketers must understand the target market to capture a consumer
– Consumer motivations, needs, purchasing habits and
how they view themselves and the rest of the world
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Market researchers use surveys, studies and focus groups to collect
data on a brand’s target.
●
Some companies have their own market-research divisions; majority
hire firms to conduct the qualitative and/or quantitative research and
interpret the results
8
Communications/Public Relations
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Manage communications with the media, consumers, employees,
investors or the general public
●
Spokespeople for own company or for clients, if they work for a public
relations firm
9
And Marketing Could Be Called…
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Business Development
– Often sales-oriented, responsibilities include finding new customers for
existing products or establishing partnerships to assist in development and
marketing
– Sometimes more of a finance function
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Strategy
– Develops and determines overall strategic marketing plan
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Consulting
– High-level strategic development of brand, product or marketing campaign
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Merchandising
– General management responsibility and P&L ownership
10
Consumer Products Groups (CPGs)
Associate Brand Manager (ABM): Lead cross-functional teams in the
planning, execution and analysis of business initiatives
– Create integrated consumer engagement plan (social media, TV,
design, promotions, PR) with internal and external agency partners
– Lead commercialization of new product launches, line extensions
and packaging innovation
– Develop strategic recommendations for key business issues or
opportunities facing the brand
– Manage advertising and consumer budget, including making
recommendations on spending priorities and tradeoffs
– Monitor health of brand via tracking/forecasting overall revenue
and share position; provide input on opportunities
11
Healthcare
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Marketing = Traditional Brand Management
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Pharmaceuticals see CPGs as competitors, not vice versa
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More opportunities than students interested in companies
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Associate Brand Manager, Bayer Consumer Care
– Lead consumer marketing programs by working with cross-functional
counterparts in Promotions and Sales to deliver sales and profit goals
– Assist in advertising development by leading the advertising copy
review process and working with advertising agency
– Monitor and analyze brand's performance and competitive environment
– Manage brand's budget and work with the finance manager
– Work with forecasting manager to project demand for brand's product
12
Retail
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Marketing is typically a support function at most retail and luxury goods
companies and executes but not develops marketing strategy
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Target’s General Management/Brand Management/Buyer Internship
As a Buyer Intern you'll work cross-functionally within the
organization to drive your project to completion. You'll gain
broad exposure to many aspects of Merchandising such as:
product development, packaging innovation, multicultural
marketing, private label development, import and sourcing
initiatives. In addition, you'll participate in the day-to-day
activities of a Buyer, developing business strategies,
marketing plans and merchandise assortments to drive
profitable sales
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The ”Brand” is the retailer and the “Product” is the department/category
13
Technology
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Product Management
– Engineering is king in many of the more tech-oriented companies so
an engineering or technology background is often preferred for
these positions
– In addition, they work internally to conceive, develop and launch
products that satisfy market demand
●
Marketing/Brand Management
– Many marketing managers in digital groups have MBAs, ad agency
or prior consumer brand management experience is valued
14
Media
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Film (Marketing)
– Primary objective is to market and increase revenues for each film product
– Partner with creative &distribution to strategize film promotion in all markets
– Studios often launch expensive campaigns to maximize opening weekend
attendance. Marketing is essential component and plays an important role
in the film making.
– Strong balance between analytical and creative skill sets.
●
Television (Marketing/Global Brand Strategy)
– Shepherd marketing across all consumer campaigns and touch-points:
advertising, viral, guerilla, digital, promos, events, etc.
– Efforts work to increase ratings, revenue growth & enhancement of brand
Media
●
Video Games (Brand Management)
– Treated like consumer products
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Home Entertainment (Marketing)
– The position can be similar to packaged goods marketing
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Magazines (Marketing)
– Create partnerships and integrated promotions with advertisers
– Subscriber development
– Customer Relationship Marketing (CRM)
– Direct Marketing
So What is a Marketing Career?
Marketing is a term
that varies by company,
but the functions essential to marketing
can be found in many careers
Marketing Career Advice
●Make
a date with a Career Advisor (Appointments released noon on Fridays!)
●Work
with a Columbia Coach, an MBA with industry expertise
Michelle Antonio ’97, Chicago: Marketing, Consulting,
Jennifer Anderson ’01: Film, Entertainment, Media, GM
Carol Eilbott ’77: Marketing, Advertising, Product Management
Pierre Faller ’06: Marketing, Media, Advertising
Janet Huang ’05, HBS: Marketing, Healthcare, Medical Devices
Sangita Popat ’06: Brand Management, Marketing, CPG’s, Beauty
Michael Romoff ’04: Digital Media, General Management
To Make an Appointment: COIN > Advising
Marketing Career Advice
●Connect
with Alumni
–Visit the Alumni Database: COIN >Tools > QuickLinks
–Review Archived Resumes of Alumni
COIN > Networking Resources > Historical Resume Books
●Speak
with Second-Year Students
–Email a Career Fellow: COIN > Advising > Career Fellows
–Visit the Student Employment Database: COIN > Tools > QuickLinks
–Chat with the MAC Board Members