Advertisement

HindustanTimes Fri,18 Apr 2014
Market-wise
Hindustan Times
New Delhi, December 25, 2012
First Published: 14:23 IST(25/12/2012)
Last Updated: 15:00 IST(25/12/2012)
Custodians of brands: Marketing is the sum of activities involved in directing the flow of goods from producers to consumers. It is not a short-term selling effort but a long-term investment effort

The lowdown

Marketing is both a science and an art. The science part includes exploring, creating and delivering value to satisfy the needs (or wants) of a target market. As an art, marketing is about helping your customers by creating genuine value. It is not a short-term selling effort but a long-term investment effort. When marketing is done well, it takes place before the company makes any product or enters any market; and it continues long after the sale. Marketing as a function and its execution has been evolving over time — from products-centric marketing and customer-oriented marketing to value driven marketing. Once marketing departments were primarily concerned with increasing sales, they now concern themselves with product development, customer support, personal sales, distribution and corporate communication.

Clockwork
In marketing, people have different roles so there is no fixed schedule. Planning and execution are a long-term process and a day is hardly ever structured. Job description of a marketing manager/director in a reputable firm includes:
* Development and execution of strategy; planning and forecasting (marketing budgets) and operation plan; ongoing review
* Brand planning and development strategies (positioning etc); ongoing review
* Looking through consumer insights/working through social media and other data sources to understand consumer conversations; build and review business and competitive intelligence
* Working with agencies and partners to create relevant content for different mediums of consumer contact
* Working internally with product development teams for product/packaging renovation
* Reviewing and working internally with stakeholders for product pricing, distribution including, merchandising strategy to ensure strong presence in key retail stores; develop trade promotions 
* Work with the commercial team to drive sales
* Monitor results of all marketing activities

The payoff
Earnings vary according to the industry segment one is working in. However, broad pay packages are Rs. 25,000 - Rs. 50,000 per month (entry level) and Rs. 60,000 - Rs. 1.2 lakh per month (middle level). At the level of vice-president, it may fetch as much money as a CEO does

Skills/TRAITS
* Self-motivated
* Ability to handle multiple priorities
* Ability to work with multiple stakeholders and vendors
* Genuine interest in people’s needs
* Leadership and vision

Getting there
A management degree is a must for career growth. One may start as a product executive and then move on to become a brand manager and then a marketing manager. According to some experts, it is also extremely important for any successful marketing person to have a stint as a field salesperson. There are, however, examples where an ordinary graduate with the right aptitude has done well in marketing. People with professional qualifications in advertising and communications could also do well in this field

Institutes and URLs
* Indian Institute of Management, Ahmedabad, Lucknow and Calcutta
    www.iimahd.ernet.in,   www.iiml.ac.in, www.iimcal.ac.in
* Mudra Institute of Communications, Ahmedabad
    www.mica-india.net
* Indian School of Business, Hyderabad
    www.isb.edu
* XLRI School of Business and Human Resources, Jamshedpur
     www.xlri.ac.in
* Indian Institute of Mass Communication
    www.iimc.nic.in

Pros and cons
* Opportunity to connect with varied segments of people
* Variety in work profiles
* The pressure to deliver can get intense

The current age of digital economy is perhaps the greatest time to be in marketing. It can be challenging but exciting. The question is — are you up to it? -- Rajesh Kumar, global client insight director (branding), TNS


comment Note: By posting your comments here you agree to the terms and conditions of www.hindustantimes.com
blog comments powered by Disqus
Advertisement
edu-news

Bridge School, Northwestern University tie up for courses

Bridge School, Northwestern University
Bridge School of Management, a part of HT Media Ltd, has entered into a joint venture with the US-based Northwestern University School of Continuing Studies to deliver innovative blended online and in-person professional certificate programmes in India.
HTEducation Alerts

Forest Research Institute, Dehradun

Eligibility: Students with a ­bachelor’s degree in science with at least one of the subject botany, chemistry, geology, ­mathematics, physics, zoology are eligible to apply. Those with a bachelor’s degree in ­agriculture or forestry may also apply. Candidates who are in the final year of their BSc/MSc are also eligible.

KC Mahindra Scholarships 2014

KC Mahindra Education Trust will offer interest-free loan ­scholarships to Indian nationals for postgraduate studies abroad in various fields. The maximum amount for the scholarship will be Rs. 2 lakh per scholar, except for the three KC Mahindra fellow scholarships for which the ­maximum amount will be Rs. 8 lakhs per scholar.
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved