Retail marketing is the process of determining the value and demand for a product and the act of advertising a brand, product, or store to the general public. Candidates who work in retail marketing can be in either one of two categories: entry level or mid level account coordinators and account executives or higher level marketing account managers.
Employees in this industry coordinate research, develop marketing and advertising plans, assist with product development and assist with public relations duties and responsibilities. Retail Marketing candidates can either be employed directly by a large company, or work for a smaller firm under the direction of a VP candidate or other supervisor.
In general, Retail marketing and associated industries has the potential to be a very lucrative business to work in. Entry Level and Mid level account coordinators, account executives and marketing specialists can make anywhere between $27,000 annually to $35,000 annually depending on the company or size of firm. In addition companies and firms or agencies also offer quarterly bonuses for excellent performance.*
Marketing managers, due to extensive experience and amount of education can make anywhere between $50,000 and upwards to $80,000 or more annually with the possibility of also making commission, and quarterly bonuses.*
*According to the BLS, http://www.bls.gov/oco/
Both Marketing managers, and marketing account coordinators, executives or specialists will also receive benefits such as medical, vacation, paid time off, sick leave and retirement options. Publicly traded companies may also offer stock purchase options to employees who can set aside a percentage of their net pay to purchase company stock at a discounted rate.
Job Description and Outlook
Retail marketing managers often take full direction of planing a company or client’s marketing strategy. Like lower and mid level employees, marketing managers conduct research, analyze return on investment or ROI data, respond to request for proposals and other tasks. Retail marketing manager are also given the task of delegating work to account coordinators, account executives or specialists. Entry level and mid level marketing specialists should have good computer skills as they may be required to constantly pull monthly expenditure reports, or conduct research on previous marketing campaigns.
Retail marketing and advertising managers may be required to work long hours including weekends in order to meet deadlines. In addition, employers may require extensive travel to on location photo shoots, video shoots, retail sites or to openings and other regional events. They also must work closely with the client’s staff and directors to make sure that the marketing image being portrayed aligns closely and doesn’t conflict with the company’s brand.
Retail marketing managers may oversee the production and completion of creative development and should have a working knowledge of graphic design and other programing capabilities. Many times Retail marketing managers will be required to supervise various aspects related to advertising and marketing production including copy writing and graphic design. They must also keep in mind production costs, and where these various ads will be placed.
In general it is important for both retail marketing specialists and marketing managers to be mindful of growing and upcoming trends in both the marketing and internet communities. A new and upcoming specialty in retail marketing is the growing demand for Social Media and Search Engine specialists. These candidates will work principally with internet marketing strategies and implementing them on social media websites such as facebook or twitter, and working with copy writers to optimize published content for higher rankings on popular search engines. Candidates for these positions should have a working knowledge of HTML and other web programing in order to know the capabilities and boundaries of what this technology can achieve.
Training and Education Requirements
Entry level positions in retail marketing often require at least a Bachelor of Art’s degree from a four year university in either Business Administration, Marketing, Public Relations or related field. With some agencies or employers, a Bachelor of Arts in Journalism is preferred. Often times companies will substitute equivalent number of years of experience for a degree. Candidates with background and experience in sales, graphic design, English, copy writing, and project management are generally more advantageous.
Positions for marketing managers often require an advanced degree such as a Master’s degree or MBA in business administration or marketing. These positions will also generally require extensive experience. Employers may ask to view a candidate’s portfolio, or collection of work from past employers.
Qualified candidates can receive certification from the Public Relations Association of America. This certification is contingent upon adequate experience as well as passing an intensive examination.
The Public Relations Association of America will provide certification to qualified candidates. There are also a number of other associations for marking specialists and manager. In addition, companies may offer continuing education for marketing specialists as well as allow them the opportunity to attend industry seminars and conventions across the country.
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