The primary responsibilities of marketing managers include helping companies expand into new markets, engage target audiences and acquire new customers. These professionals work to increase sales and profitability by researching trends, estimating demand and identifying opportunities. Understanding business principles and consumer behavior is essential to success in this field, which is why the online Master of Business Administration (MBA) in Marketing program from Florida Institute of Technology is an ideal pathway to a marketing manager career.
What Is the Job Outlook for a Marketing Manager?
The U.S. Bureau of Labor Statistics (BLS) projects that the employment of marketing managers will increase by 8% between 2023 and 2033, faster than the average of all occupations. Job growth will occur as companies seek to differentiate their goods and services in an increasingly crowded market, resulting in demand for talented marketing managers who know how to design effective pricing strategies and reach new customers.
Given the salaries and prestige of a marketing manager role, competition will be strong for these coveted positions. Candidates with experience and advanced education should enjoy the best career prospects.
What Do Marketing Managers Do? Job Duties and Responsibilities
The marketing manager role varies according to industry and company size. Generally, these professionals do the following:
- seek to understand the level, timing and composition of consumer demand to drive sales growth
- oversee an organization’s marketing activities
- supervise marketing staff
- develop marketing campaigns, analyze their performance and make recommendations for future campaigns based on the results
- conduct planning and reporting activities
- set goals and objectives
- plan budgets and analyze costs and expenditures
- work closely with in-house or external creative teams and media buyers to plan and execute campaigns
- provide status reports to upper management
Some positions may require more generalization, with additional duties such as brand management, public relations, search engine optimization or trade show supervision. Other managerial positions may focus on specialized functions, such as strategic partnerships, business-to-business marketing or client services.
Additional Subcategories of Marketing Management
Subcategories of marketing management found in larger firms include capabilities marketing manager, product marketing manager, category marketing manager, consumer marketing manager, channel marketing manager, client relationship manager and email marketing manager. While each specialty may focus on a different market segment, they typically entail similar job duties.
For example, product marketing managers create marketing strategies for product lines to support established revenue, profit and other goals. Duties may include defining the product strategy, determining customer requirements, and working with internal and external partners to deliver products that meet customer requirements.
Marketing manager work environments may be typical offices or virtual platforms for remote workplace structures. Marketing manager working conditions may be stressful, as responsibilities include executing fast-paced campaigns and meeting ongoing deadlines. Travel may be a necessary part of these positions, as marketing managers often meet with vendors and customers and attend trade shows, conferences and events.
Marketing Manager Potential Salary
According to BLS data, the median annual wage for marketing managers nationwide was $157,620 in 2023, with top earners making over $239,200. The typical salary range for marketing managers in 2023 was $108,000 to $208,000.
Recent bachelor’s graduates will generally need to acquire experience in entry- to mid-level marketing positions before moving into a manager-level role. The top salaries generally go to marketing managers with extensive experience, advanced education and excellent leadership skills.
Marketing Manager Education Requirements
Entry-level marketing positions often require a bachelor’s degree in a field such as business administration or marketing. Some managerial positions may require advanced education, such as an MBA in marketing. Employers expect marketing managers to have relevant work experience.
While earning a bachelor’s degree in marketing can be an excellent first step toward a career in the field, earning a specialized marketing MBA can fast-tract a marketing professional to top management roles. Coursework in an MBA in marketing program typically covers essential business and management subjects as well as specialized topics like strategic marketing, consumer behavior and market research. Employers can be confident that graduates of a quality MBA in marketing program are able to do the following:
- implement various strategies and formats for organizational communications
- identify market segments and estimate product demand
- plan, develop, implement and monitor marketing campaigns
- apply marketing strategies to diverse national and international environments
- leverage leadership skills to optimize team performance and strategic marketing outcomes
Employers may offer opportunities for continuing education to marketers with obvious potential. Thus, marketers with a bachelor’s degree may be able to use tuition assistance for an MBA in marketing program.
Considering a Career as a Marketing Manager?
Marketing managers are at the forefront of commerce, technology and design. Success in this field requires creativity, innovative thinking and resourcefulness. Detail-oriented and deadline-driven professionals who are comfortable working in a changing, fast-paced environment can make excellent marketing manager candidates.
Those who possess these attributes and hone their skills and expertise with an MBA in marketing may rapidly advance their marketing management careers. Additionally, years of experience and the qualification afforded by an MBA education can set up marketing managers for further advancement into the highest levels of leadership, such as VP of marketing or chief marketing officer positions. These positions come with a great deal of responsibility but can be extremely rewarding personally, professionally and financially.
Learn more about Florida Tech’s online MBA in Marketing program.
