Wednesday, November 6, 2013
Marketing is a popular field of study around the world and it’s getting more popular all the time. One of the reasons for this is that marketing is a growth industry with many diverse subsets that accommodate all types of skills. According to the US Bureau of Labour Statistics, one the biggest areas of growth is going to be in market research, with positions for research analysts expected to grow by 41% between 2010 and 2020.
Earlier this year (2013) CareerCast published anarticle highlighting marketing’s importance in the economy. It also outlined the top marketing and advertising jobs as far as salary and growth are concerned. Some of the positions included marketing management, market research analysis, and event planning, with growth varying between 14% and 44%, and salaries varying between $45,200 and $108,200. Obviously, salaries are contingent upon your qualifications and experience.
Why else should you study marketing?
Industry growth aside, there are at least three other reasons why you should study marketing.
1) DiversityAs mentioned, marketing is a diverse field that can appeal to those who like their data, as well as those who like working with people.
If you have an analytical brain, and you thrive on research and analysis, and aren’t particularly sold on the idea of selling products to the masses, then you might enjoy working in market research and analysis. It’s already been pointed out that it’s one of the top jobs in the industry, not to mention one of the most lucrative (it falls within the $108,200 salary range).
If you love working with people and are brilliant at building and maintaining complex relationships, then you might enjoy the sales side of things, managing client relationships and accounts, and attending events and networking to garner new sales.
If you’re more creative than analytical then you might enjoy being part of the marketing strategy team as a graphic designer or copy writer (both of which are in demand, according to CareerCast).
2) DemandDemand for marketing specialists isn’t just growing in the United States; it’s also growing globally. The nice thing about marketing qualifications is that they are more or less universal. So, while you might need to take a short course in international marketing to familiarise yourself with consumer differences, by and large, the basic principles apply.
If you plan on plying your skills in a completely foreign market, it may be a good idea to take marketing courses specific to that country. For example, marketers from a deeply western culture may want to find out as much as they can about Japanese consumers before making a permanent move to Tokyo.
The internationalisation of business also means that there are plenty of opportunities to dabble in global markets while maintaining your home base. Many companies have business dealings in countries all over the world, each of which requires tailored marketing strategies.
So, the bottom line is that not only will your skills be in demand, but you will also be exposed to different cultures and new learning experiences, and the unique challenges will ensure that no two days are exactly the same.
3) VersatilityThis ties into diversity and demand because people with marketing qualifications can use their skills in a variety of contexts. For example, if you don’t fancy working for an international corporation whose mantra is Money Money Money, you could work in the non-profit sector. There isn’t a charity or cause in the world that can’t benefit from well-thought-out, well-implemented, well-managed, and well-analysed marketing strategies. You’re unlikely to earn a six-figure salary but you can’t put a price on a personally rewarding job, can you?
You can also work in any industry you care to name. Everything needs marketing, from education and engineering to IT and health and beauty. So, if you have a penchant for natural medicine, you could always work in the marketing department at a company that manufactures or sells natural products. Or, you might have a passion for travel, which would make you the perfect candidate for a local tourism board.
Marketing embraces a broad spectrum of skills. According to International Student, it doesn’t matter whether your strengths lie in critical thinking and problem-solving, computers and electronics, mathematics, programming, or sales, you’ll find a niche in marketing.
Jemima Winslow works in digital marketing where she applies her skills as a writer, writing onsite and offsite content for clients in a range of industries. This means that she’s had to learn a little bit about a lot, which keeps the job interesting.