A product marketing manager is in charge of new and existing product marketing. A product marketing manager is typically employed manufacturing firms, information technology firms, and financial firms to supervise employees who are primarily involved in advertising or outside sales. In most companies, the marketing team collaborates closely with the product development team to develop sales strategies for new products before they are officially released.
Marketing managers are almost always required to have a bachelor’s degree in marketing, advertising, business, or a related field. Many undergraduate students work for marketing firms during their summer internships while still in college, and these internships frequently lead to permanent job offers. Members of the marketing team must communicate with ad agencies or arrange for outside visits to potential clients. Managerial positions are frequently filled successful members of the marketing team. Because some small businesses have limited marketing budgets, a product marketing manager may be required to work alone.
When a new product is about to be released, the product marketing manager must meet with the product development team to determine which market segment the new product is aimed at. Because clients and members of the marketing team will rely on the marketing manager for product information prior to its release, the marketing manager must have a broad understanding of the product’s features and benefits. In addition to figuring out how to market the new product to potential customers, the manager must also think of ways to market it to the company’s current customers.
To market products, the manager of a product marketing team must work within a set budget. The marketing budget must typically cover both advertising costs and employee expenses incurred during outside sales calls and seminars. Some managers are given an annual budget to cover marketing costs for all of the company’s new products, while others are given a per-item budget. Managers frequently receive bonuses based on sales, but staying within the marketing budget is often one of the many factors that influences the size of the bonuses received the product marketing manager and the rest of the sales team.
Outside sales representatives are assigned different sales territories and different tasks marketing managers. The manager and staff meet on a regular basis to discuss sales results and marketing strategies. A large firm’s marketing manager must report to a regional marketing director or executive who is in charge of a large geographic area. Within the same company, successful managers frequently advance to executive positions.