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Marketing involves much more than just selling goods and services.
It also involves identifying customer needs, and finding
new markets and new products to meet these needs and
markets. Further, Marketing identifies what product
changes are desired by customers.
Equally as important as developing products is Marketing's responsibility
for selling the Company's products. This in turn involves
advertising and personal (i.e., face-to-face) selling,
both to consumers and to other companies that buy the
Company's products.
Surprisingly, Marketing is very involved in pricing the Company's
products. While there are important financial aspects
of pricing, there are also the customers' perceptions
of price to consider. As an example, for years Marketers
at Mercedes warned that there is a limit to how much
American luxury car buyers would pay for Mercedes' 500
Series automobiles. At some point, Mercedes' 500
Series pricing apparently passed that limit and sales
dropped dramatically. As another example, Godiva chocolates
were once priced with the competition. When Marketers
raised prices to signal consumers that Godiva chocolates
were somehow better than the rest, unit sales fell but
revenue increased. The unit decline was more than offset
by the price increase.
Marketing is also responsible for distributing the Company's
products via wholesalers, retailers, catalogs, E-commerce,
and more. In addition, Marketing is increasingly responsible
for the physical distribution of the Company's products--
e.g., how they are inventoried, packed, transported, warehoused,
etc. All other things being equal, consumers and companies
prefer products that are available where they want them,
in the right quantities, when they want them, etc.
In short, Marketing is responsible for finding needs and filling
them, and maximizing exchanges between the Company and
customers. This includes designing and refining the Company's
products, and pricing, promoting, and distributing them.
Marketing is also responsible for identifying new target markets.
This can involve Marketing in starting new companies,
and acquiring outside companies.
Perhaps surprisingly, Marketing can be quite technical. For
example, trained Marketers who are also trained Statisticians
conduct Marketing Research for larger companies such
as Proctor and Gamble. Trained Marketers who are also
trained Psychologists perform Consumer Marketing Research
studies. Trained Marketers who are also trained Engineers
do Logistic system design. More unusual examples include
the degreed Lawyers, who are also trained Marketers,
who work for the U.S. Justice Department and larger law
firms on the legal aspects of Marketing.
Marketers are involved in all aspects of the U.S. economy. For
example, in addition to consumer products such as automobiles,
Marketers are involved in Business-2-Business markets
such as jet engines to Boeing. Marketers are involved
in E-commerce, both to consumers (e.g., amazon.com),
and to businesses (e.g., boeing.com). Surprisingly Marketers
are involved in politics. The President and the President
Elect used Marketing Researchers, Public Relations experts,
Fund Raisers, and more. Most of these were trained Marketers.
Marketers are also involved in environmental issues.
Green Peace, the National Wildlife Federation, the Nature
Conservancy, and more use trained Marketers to help generate
donations and lobby for public and governmental support.
Marketers are involved with intercollegiate and professional
sports. The recent Olympic Games involved trained Marketers
to obtain sponsors, promote ticket sales, repair public
relations (e.g., the bribes paid to the Commissioners),
and more. The NFL employs Marketers to promote the NFL
(e.g., the United Way involvement of name NFL players).
Local franchises employ trained Marketers to promote
the local team, lobby for new stadiums, etc.
Marketers can be among the highest paid individuals in a company.
Over the years Marketers have occupied the executive
suites of over half of the Fortune 500 companies. Sales
persons in some larger companies can make seven figures
per year-- executives in these companies know sales persons
are responsible for producing and maintaining the Company's
revenue stream, and will pay to ensure this.
Marketers usually specialize in one or more of the above jobs,
and are found in all types and sizes of firms. They work
for small to large companies that are publicly traded,
and for small to large privately held firms such as Cargill.
Marketers also work for small to large consulting firms.
In California and elsewhere you can rent a Marketer for
the day, week or month from temporary employment firms.
Marketers are even found in higher education. Most of
the Professors in our Marketing Department have actually
spent part of their careers doing Marketing in real-world
companies.
We believe that our Marketing program prepares Marketing students
for a career managing and doing one or more of the above
jobs, and that it prepares students for the graduate
training required for those that require an advanced
degree. Interested students can major in marketing as
an undergraduate or graduate, or they can minor in marketing.
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