Duties of a marketing manager include monitoring the public's demand for various products.
Usually employed by retail corporations and manufacturing companies to develop pricing strategies for specific retail products, the marketing manager helps a company maximize its profit margin. Assuming the role of product development oversight, the marketing manager will also attend trade shows in order to promote a company's new product line. As of July, 2010, the average salary for this job was $86,000 per year.
Evaluates Product Development
By viewing the cost expenditures and manufacturing budgets of an upcoming product line, the marketing manager evaluates the effectiveness of the overall product development of this new line. The marketing manager also researches the return-on-investment ratio if the new product line is manufactured for the international marketplace. Analyzing the profit-loss ratio, the marketing manager creates an evaluation report regarding the new product line and submits it to upper management after completing the report.
Oversees Marketing Staff
The marketing manager evaluates the overall job performance of all members of the marketing staff to ensure these workers are following company guidelines. The marketing manager also oversees the hiring of potential marketing department employees and trains these new workers so they can perform their primary job functions in an efficient manner.
Negotiates Vendor Contracts
To keep a company's overall cost expenditures within the company's annual budget, the marketing manager negotiates vendor contracts. By researching the lower cost of other product distribution companies, the marketing manager contacts his company's management team in order to lower costs. The marketing manager also researches lower production costs when it comes to material goods and negotiates a new contract with these companies when needed.
Attends Trade Shows
Working with the company's product developers, management team members and advertisers, the marketing manager coordinates specific activities of a trade show presentation. The manager will help set up the trade show booth, as well as organize and create posters and educational pamphlets regarding current and upcoming product lines. The marketing manager also answers any pertinent questions retail business owners attending the show might have regarding upcoming products.
Tags: marketing manager, manager also, marketing manager also, product line, also researches, company product, cost expenditures