As economies across the globe become interdependent, it creates challenges and opportunities for businesses to grab their share of the international pie.
It will take leaders with an ability to maneuver through the twists and turns of the world marketplace to ensure their companies are not left behind. Professionals who want to secure their futures are increasingly looking for the background and savvy to be top performers in the new business order through online advanced degree programs like the University of Houston-Victoria Global Master of Business Administration (MBA) with a concentration in Marketing.
Expanding Internationally Is Challenging
The opportunities are great for companies that decide to enter the world marketplace. But so are the challenges.
Marketing-Schools.org outlined some of these challenges, noting that consumers have many different options for similar products, requiring companies to ensure their products are not only high-quality but also affordable. In addition, marketing for these products must be unique, and branding efforts must account for differences in consumers, demographics and foreign markets.
This will require a new breed of business leaders who understand international business dynamics and have the communication skills, along with consumer and cultural savvy, to build a successful and rewarding career.
The following are some job options for marketing MBA graduates. Each description outlines responsibilities and duties for each and includes July 2019 salary information (PayScale):
Operations Managers supervise purchasing, warehousing and manufacturing of a company's goods and services, ensuring the products meet or exceed their clients' demands. They also oversee budgets, make sure processes run smoothly, and at times can be involved in establishing sales and profit goals. Average yearly salary is $63,827, with a range from $41,000 to $102,000.
Marketing Directors manage and direct a company's marketing program. They set parameters for the marketing professionals to meet company goals. Marketing directors create projects and propose budgets and concepts for successful marketing campaigns. They also maintain communications with clients and vendors. Average yearly salary is $86,163, with a range from $46,000 to $149,000.
Product Marketing Managers are the most familiar with a company's products. They are responsible for developing strategies to sell products to generate the highest profits. Responsibilities include deciding how products are advertised, how they are described in press releases and how they are viewed by the public. Product marketing managers work at the local, regional, national and international levels. Average yearly salary is $87,780, with a range from $57,000 to $127,000.
Marketing Analysts help companies understand their products from a marketing perspective. For example, they help clients meet goals by creating a plan, sifting through data and developing potential solutions by analyzing the target audience's demographic data, market data and studies from the company's research. The also identify new opportunities, generate sales forecasts, and develop metrics and strategies to enhance performance. Average yearly salary is $54,393, with a range from $40,000 to $78,000.
Brand Managers control and manage a brand's exposure to the public. Responsibilities include developing plans and executing projects that support a broader marketing strategy, developing consumer communications in conjunction with corporate advertising, setting objectives and strategies, and developing tactics to meet the targets for all the different sources of the marketing mix. Average yearly salary is $70,017, with a range from $42,000 to $114,000.
Marketing Communications Managers are responsible for gaining and maintaining a good customer base with a focus on customer satisfaction and retention. Other duties include developing/implementing marketing strategies and advertising, and understanding a customer's target audience and demographics so the company's message can be delivered in the most effective way. In addition, the marketing communications manager must analyze the competition and propose strategies to keep their company on top. Average yearly salary is $64,980, with a range from $42,000 to $96,000.
While salaries for marketing professionals will vary based on a number of factors including skills, years of experience, educational attainment and location, it's worth noting that PayScale places the average salary for marketing MBA graduates in the U.S. at $90,000 per year.
Advanced degree programs such as the University of Houston-Victoria's Global MBA with a concentration in Marketing online help professionals get a head start by providing them with the tools and techniques needed to succeed in an increasingly complex global business environment. Unlike other plans, the University of Houston-Victoria program focuses on managerial decision-making, competitive strategy, program development and complex business relationships in a world marketplace.
Learn more about UHV's Global MBA with a concentration in Marketing online program.
Sources:PayScale: Master of Business Administration (MBA), Marketing Degree
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