Mr. Hurdle's Marketing and Merchandising Chapters 22 and 23
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| managing | getting the work of an organization done through other people and resources
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| marketing management | the process of coordinating resources to plan and implement and efficient marketing activity
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| planning | analyzing information, setting goals, and determining how to achieve them
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| Management Functions and Activities | Planning, Organizing, Controlling, Staffing, Leading
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| Organization charts | divide work into divisions or departments and show the relationships among those work units
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| staffing | the activities needed to match individuals with the work to be done
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| leading | the ability to communicate the direction of the business and to influence others to successfully carry out the needed work
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| effective leadership | commitment and motivation, effective communications, establishing good working relationships, and recognizing and rewarding effective performance
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| controlling | managers measure performance, compare it with goals and objectives, and make corrections when necessary
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| specific controlling activities | setting standards, collecting and analyzing information, considering methods of improving performance, changing plans when necessary, solving problems, and resolving conflicts
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| controlling tools | plans, budgets, financial reports, and management information systems
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| environmental change | economy, technology, competition, and laws and regulations
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| Determining Marketing Effectiveness | Measuring Customer Satisfaction, Measuring Business Satisfaction
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| Measuring Business Satisfaction | Analyzing Goals, Financial Analysis, Employee Satisfaction
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| Benefits of Working in Marketing | Many Choices, Interesting Work, Financially Rewarding, Stable Employment
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| career area | the area of business or the business function in which you plan to work
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| Examples of career areas | marketing, accounting, information management, production, and others
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| career path | a series of related jobs with increasing knowledge and skill requirements and greater amounts of responsibility
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| career plan | identifies the progression of jobs in your career path, your plans for education, training, and experience to meet the requirements for those jobs, and a tentative time schedule for accomplishing the plan
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| Employment Levels in Marketing | Entry-level marketing, Career-level marketing, Supervisor/Manager-Level Marketing, Executive/Entrepreneur-level marketing
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| entry-level marketing | routine activities with limited authority and responsibility; requires limited education and experience; often pay hourly wage, beginning at minimum wage level
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| Examples of entry-level marketing jobs | clerk, cashier, stock-person, delivery person
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| Career-level marketing | more control over work, variety of tasks 2 complete that require specific knowledge and skill to perform well, usually involved in problem-solving and decision-making, & may have some limited supervisory responsibilities over a few entry-level employees
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| specialist-level marketing | perform very specific work in a business that requires advanced knowledge of a particular area of business operations; often considered most skilled and expert people in their part of the business
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| Examples of marketing specialists | brand and product managers, advertising account executives, lead sales representatives, marketing research specialists, and buyers
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| Supervisor/Manager-level marketing | need to have an understanding of and usually some experience working in the area for which they have management responsibilities; effective communications, human relations, and leadership skills
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| Examples of supervisors/managers | sales manager, inventory manager, customer service manager, marketing information systems manager, and many others
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| Executive/Entrepreneur-Level Marketing | most authority & responsibility; hold top positions in company; need to have thorough understanding of business principles & procedures, management & all areas of marketing; responsible for all major marketing plans & decisions made & implementation
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| Marketing Foundations | Business Principles, Interpersonal Skills, Academic Preparation
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| Business Principles | economics, accounting, law, technology, and management
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| Interpersonal Skills | communications, teamwork, human relations, decision-making, and problem solving
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| Academic Preparation | effective mathematics,writing, and speaking skills; preparation in science, psychology, and technology are often helpful; study of foreign languages is very important
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| Marketing Functions | Product/Service Management, Pricing, Distribution, Financing, Promotion, Selling, Marketing-Information Management
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| Product/Service Management | maker sure that products are safe, easy-to-use, and are perceived as a value by the target market
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| Pricing | responsible for profitability of product; need to analyze suplly and demand and set a price that will result in the sales of the company's products at a profit; plan pricing policies and determine how price will be communicated to customer
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| Distribution | where customers are located and where they prefer to purchase products or services; procedures for order processing, inventory management, packaging, shipping, and customer service are developed
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| Financing | Budgets prepared and adequate financial resources identified to pay for marketing activities; credit plans and policies may need to be development; lease terms explained and complete necessary paper work to/with customers
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| Promotion | carefully planned in order to make customers aware of company's product, provide them with necessary information so they will make a purchase, & follow up to make sure they are satisfied with the product
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| Promotion planning skills | writing, editing, design, graphics, media, and technology
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| Selling | need skills in oral and written communications, time management, human relations, planning, budgeting, and technology skills
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| selling tools | computers, projectors, PDAs, cell phones, and the Internet
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| Marketing-Information Management | need skills in mathematics & statistics, computer skills, understanding of research procedures, the ability to manage and analyze large amounts of data; communication to provide reports to other people responsible for decisions using information collected
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| Telemarketers | need product information to answer customer questions
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| Marketing researchers | select a sample of consumers to survey
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| Product managers | analyze daily sales of a brand in an important market
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| Marketing Education program | incorporates three types of complementary learning experiences--introductory and advanced courses in marketing, structured work experiences through internships and cooperative education, and a student organization called DECA
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| Career Paths in Marketing | Industry Paths and Marketing Function Paths
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| Industry Paths | automobiles, construction, the arts, entertainment, or health care
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| Marketing Functions Paths | promotion, distribution, financing, advertising, marketing research, retailing
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| advertising careers (path) | internship in an advertising agency, job in media traffic, account executive, account supervisor, director of advertising
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| jobs in media traffic | help to place ads in selected media and monitor the media to insure the advertisements are run as planned
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| marketing research careers (path) | interviewer or data analyst, survey planning and design, project director, director of marketing research
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| retailing careers (path) | cashier, stockperson, or salesperson, assistant manager, manager, assistant store manager, store manager, district and regional management, division vice-president
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| Developing a career plan | 1. Complete assessment of current knowledge, skills, and interests, 2. Study marketing careers in depth, 3. Identify education and experience requirements, 4. Make a list of knowledge and skills you will need to develop, 5. Prepare a written career plan
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| career portfolio | an organized collection of information and materials developed to represent yourself, your preparation, and your accomplishments
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| What to Include in your career portfolio | items that you believe provide the best evidence of your marketing knowledge & skills; tests, reports, & projects completed in classes, summaries of aptitude or interest tests taken, projects & activities completed in club/organization, work done 4 hobby
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| applying for the job you want | Identify Jobs, Make a Career Match, Prepare Application, Complete a Successful Interview, The Decision
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