Marketing 101 Careers in Marketing

1. Marketing 101Careers in Marketing October 28, 2011 Tricia Baione ‘09 Career Management Center • Follow @ColumbiaBizCMC on Twitter

2. What is Marketing? • The intermediary function between product development and sales • It’s the marketer’s job to ensure consumers look beyond price and functionality when weighing consumption options • Create, manage and enhance brands • Want the consumer to ask: “Which brand helps me look and feel my best? Which brand can I trust?” • Goal = Own share of mind • Marketers must understand needs, preferences and constraints that define a target group or market niche • Customers versus Consumers • Determining how to keep and expand share is central

3. What is a Career in Marketing? Marketing has many iterations and can include a range of job opportunities across industries Business Development Consulting Strategy Merchandising Brand/Product Management Advertising Digital/Direct Mail Market Research Communications/PR

4. Brand Management • Key Function in Consumer Packaged Goods (CPGs), Pharmaceuticals, Financial Services and Technology • Considered best training for long-term marketing careers • In large CPGs, such as Unilever and Kraft, brand managers move brandsto develop experience on both large & small, new & established brands • Hub of Wheel ≠ Small Business CEO (Don’t get hands dirty) • Focus on big picture of brand/brand family • Distill brand essence • Map competitive landscape to identify opportunities • Analyze financial, research data to develop marketing strategy • Ensure other functions work in concert to implement brand strategy • Communicate unique benefits to consumers

5. Advertising • Marketing consultant who helps the client with all aspects of its marketing efforts-everything from strategy to concept to execution • Business side of advertising (versus creative or production) • Account Manager, Account Planner, Media Planner • Online Advertising: creative and technical development (banners, rich media, video, text), digital media planning & buying, search marketing • Strategy: With more agencies providing integrated marketing solutions, internal strategy teams help guide client efforts.

6. Direct Marketing • Using customer databases to develop segmentations and targeted one-on-one marketing strategies • Traditionally associated with magazine circulation, catalogues and credit card offers • Research/Analytics: MBAs often do deep dives into the numbers for digital and direct marketing agencies • Today is especially applicable to the Internet where firms use direct marketing techniques and strategies to drive sales • eCRM, email marketing, SMS, e-commerce, analytics, reporting, and optimization

7. Digital Marketing • Digital Strategy: Marketing strategy, digital branding strategy, digital business modeling, user research, customer segmentation • Brand Experiences and Platforms: Cross-platform user experience design and development (web, mobile, gaming, interactive/IP TV, in-store, out-of-home) and branded content & entertainment

8. Market Research • Marketers must understand the target market to capture a consumer • Consumer motivations, needs, purchasing habits and how they view themselves and the rest of the world • Market researchers use surveys, studies and focus groups to collect data on a brand’s target. • Some companies have their own market-research divisions; majority hire firms to conduct the qualitative and/or quantitative research and interpret the results

9. Communications/Public Relations • Manage communications with the media, consumers, employees, investors or the general public • Spokespeople for own company or for clients, if they work for a public relations firm

10. And Marketing Could Be Called… • Business Development • Often sales-oriented, responsibilities include finding new customers for existing products or establishing partnerships to assist in development and marketing • Sometimes more of a finance function • Strategy • Develops and determines overall strategic marketing plan • Consulting • High-level strategic development of brand, product or marketing campaign • Merchandising • General management responsibility and P&L ownership

11. Consumer Products Groups (CPGs) Associate Brand Manager (ABM): Lead cross-functional teams in the planning, execution and analysis of business initiatives • Create integrated consumer engagement plan (social media, TV, design, promotions, PR) with internal and external agency partners • Lead commercialization of new product launches, line extensions and packaging innovation • Develop strategic recommendations for key business issues or opportunities facing the brand • Manage advertising and consumer budget, including making recommendations on spending priorities and tradeoffs • Monitor health of brand via tracking/forecasting overall revenue and share position; provide input on opportunities

12. Healthcare • Marketing = Traditional Brand Management • Pharmaceuticals see CPGs as competitors, not vice versa • More opportunities than students interested in companies • Associate Brand Manager, Bayer Consumer Care • Lead consumer marketing programs by working with cross-functional counterparts in Promotions and Sales to deliver sales and profit goals • Assist in advertising development by leading the advertising copy review process and working with advertising agency • Monitor and analyze brand's performance and competitive environment • Manage brand's budget and work with the finance manager • Work with forecasting manager to project demand for brand's product

13. Retail • Marketing is typically a support function at most retail and luxury goods companies and executes but not develops marketing strategy • Target’s General Management/Brand Management/Buyer Internship • The ”Brand” is the retailer and the “Product” is the department/category As a Buyer Intern you'll work cross-functionally within the organization to drive your project to completion. You'll gain broad exposure to many aspects of Merchandising such as: product development, packaging innovation, multicultural marketing, private label development, import and sourcing initiatives. In addition, you'll participate in the day-to-day activities of a Buyer, developing business strategies, marketing plans and merchandise assortments to drive profitable sales

14. Technology • Product Management • Engineering is king in many of the more tech-oriented companies so an engineering or technology background is often preferred for these positions • In addition, they work internally to conceive, develop and launch products that satisfy market demand • Marketing/Brand Management • Many marketing managers in digital groups have MBAs, ad agency or prior consumer brand management experience is valued

15. Media • Film (Marketing) • Primary objective is to market and increase revenues for each film product • Partner with creative &distribution to strategize film promotion in all markets • Studios often launch expensive campaigns to maximize opening weekend attendance. Marketing is essential component and plays an important role in the film making. • Strong balance between analytical and creative skill sets. • Television (Marketing/Global Brand Strategy) • Shepherd marketing across all consumer campaigns and touch-points: advertising, viral, guerilla, digital, promos, events, etc. • Efforts work to increase ratings, revenue growth & enhancement of brand

16. Media • Video Games (Brand Management) • Treated like consumer products • Home Entertainment (Marketing) • The position can be similar to packaged goods marketing • Magazines (Marketing) • Create partnerships and integrated promotions with advertisers • Subscriber development • Customer Relationship Marketing (CRM) • Direct Marketing

17. So What is a Marketing Career? Marketing is a term that varies by company, but the functions essential to marketing can be found in many careers

18. Marketing Career Advice • Make a date with a Career Advisor (Appointments released noon on Fridays!) • Work with a Columbia Coach, an MBA with industry expertise Michelle Antonio ’97, Chicago: Marketing, Consulting, Jennifer Anderson ’01: Film, Entertainment, Media, GM Carol Eilbott ’77: Marketing, Advertising, Product Management Pierre Faller ’06: Marketing, Media, Advertising Janet Huang ’05, HBS: Marketing, Healthcare, Medical Devices Sangita Popat ’06: Brand Management, Marketing, CPG’s, Beauty Michael Romoff ’04: Digital Media, General Management To Make an Appointment: COIN > Advising

19. Marketing Career Advice • Connect with Alumni • Visit the Alumni Database: COIN>Tools > QuickLinks • Review Archived Resumes of AlumniCOIN>Networking Resources > Historical Resume Books • Speak with Second-Year Students • Email a Career Fellow: COIN > Advising > Career Fellows • Visit the Student Employment Database:COIN > Tools > QuickLinks • Chat with the MAC Board Members