Marketing and advertising managers are responsible for planning programs that generate interest in products and services. They work with other team members including art directors, sales agents and financial staff members to create and strategize ways to promote products and services.
The main task of marketing managers is to research and understand the demand for products or services offered by a company and to identify potential markets that the organization can serve. They strategize prices that maximize profits and ensure that customers are satisfied.
Advertising managers, on the other hand, help to create demand and interest for potential buyers. They do this by putting together advertising campaigns for clients, selling and buying advertising time and space, and more.
Both marketing managers and advertising managers can work in various media. This includes radio, television, print and digital media.
Marketing and advertising managers work in almost every industry. Generally, they are employed by advertising or marketing firms. The professional, scientific and technical services industry, which includes the healthcare industry, employs the most marketing managers (about 21 percent). Many marketing managers work in-house for companies and organizations, as opposed to those who work for independent firms.
The Bureau of Labor Statistics (BLS) reports that employment of marketing managers will grow 9 percent by 2024, while job growth for advertising and promotions managers will be 5 percent. Demand will increase for managers who excel in digital strategies.
The median annual salary for a marketing manager is $128,750, according to the BLS. Advertising and promotions managers make an average salary of $95,890 a year. The main difference affecting salary is that marketing managers usually work with a wider team of colleagues and must stay incredibly up to date on matters concerning consumer demand and client supply.
In general, the minimum education requirement for a marketing or advertising manager is a bachelor’s degree. However, individuals can gain a competitive edge by pursuing a Master of Business Administration degree. An MBA like the fully online Master of Business Administration degree from Campbellsville University offers different specializations including marketing.