Growth prospects for marketing

Marketing is an important skill set for success in private sector jobs. Not only it enables good growth prospects but also many times the CEO of the company is from the Marketing department.

Marketing people typically work on the most challenging and key issues from the organization’s point of view.   People who enables success on such challenging assignments are considered fit for promotion to top positions in the company.

Marketing is valuable because their job is to create growth and increase profitability. While it is a no brainer that opportunities lead to growth, to figure out what are the opportunities for growth accurately is not easy. Marketers think, listen and interact to identify opportunities. Then, they come up with strategies to leverage the opportunities.

The market place puts up many asymmetric challenges – it is not that the competitor is making the same product with higher quality and lower price. They may be offering substitute products or services and delivering them in different format. Or, the customer’s needs are met in a different manner by another competitor. Such asymmetric challenges require creative approaches to win in the market place.

In order to see the growth prospects for marketing, let us see the kind of skills that are developed in marketing people.

  • Marketing mindset i.e., an ability to understand what a customer wants and is willing to buy even if it is at a high price. This is very valued in a free market economy
  • Marketing requires strong coordination skills in order to execute the marketing strategy. These coordination skills become valuable in senior management role.
  • Holistic picture – many people, professionals and experts think only in terms of their view point and forget the big picture of what the customer wants. Marketing people are most likely to have such holistic picture, since their everyday work involves getting the big picture right.
  • Another thing very similar to holistic picture is understanding the entire company or business. Marketing allows to understand all the key functions in the company.
  • Every decision or action has a short term and long term implication. A marketer cannot work only on a short term or long term view. Real success needs to happen on both short term and long term.

As it can be clearly seen, the skills and competencies that are required for marketing success are very important for an organization’s success. For this reason, anyone who is competent with marketing has bright growth prospects.

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