Marketing Management: What Is It and Why Does It Matter?

What to know about marketing management in 2023

Marketing management involves the strategic creation and implementation of an organization's marketing efforts. People who work in marketing management act as liaisons between a company and its target consumer. 

Marketing management is important because it enables companies to:

• Focus their marketing efforts on achieving priority goals, such as increasing brand awareness or boosting revenue.

• Track results of marketing efforts, using software and automation.

• Optimize marketing campaigns to gain new customers and retain loyal ones.

According to HubSpot's 2022 State of Marketing Report, based on surveys of over 1,600 marketers, some of the trends that marketers and marketing leaders should be mindful of include [1]:

• The rise of influencer marketing as an effective strategy to reach an audience, with 68 percent of survey respondents including influencer marketing in their efforts.

• Prioritizing social media content that reflect's a brand's values.

• Videos, particularly live-streams and short-form content, becoming a major area of investment.

What is marketing management?

Marketing management uses marketing tools, strategies, processes, and analyses as part of an organization's strategic approach to developing and implementing marketing efforts. 

The meaning of marketing management can vary based on an organization's industry and marketing goals. As the name suggests, marketing management takes on managerial functions in marketing, which may entail oversight of marketing campaigns, outcomes, and planning and decision-making before, during, and after marketing plans are executed. 

Importance of marketing management to a business

Marketing management is vital to a business's ability to generate revenue, create a brand, and better understand its customer base. Marketing management works to ensure a company is profitable by gaining new customers, expanding a customer base, building a company’s reputation, and improving customer interactions. Some essential marketing functions of marketing management include managing, analyzing, and aligning with a company’s goals. 

Marketing management aims to provide cohesion and direction for campaigns or other marketing efforts. It’s a data-driven, strategically planned system supervised by professionals working in marketing management. 

Common elements of marketing management

Common marketing management elements include setting goals aligned with marketing efforts, conducting research to understand target consumers, creating campaigns based on analysis and goals, and maintaining a brand’s reputation and recognition by engaging with customers. Marketing management professionals work with a company and its customer base, acting as a bridge between the two. To function as this liaison, they must be able to understand desires and needs, which requires a fair amount of research and analysis. 

Goal setting

One of the foundational requirements for effective marketing is setting a goal. Here are some reasons why having a goal is important for marketing management:

• Helps plot and plan marketing campaigns

• Keeps a marketing team on track

• Easier to create and assign tasks to individuals 

• Helps measure the effectiveness of your marketing efforts

Marketing goals can range from increasing sales by expanding the customer base to finding a niche market to engage customers better. 

Learn about key performance indicators (KPIs), reports, and dashboards in this video from the Meta Marketing Analytics Professional Certificate:

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Conducting market research

After you’ve set a goal that aligns with the company’s objectives, it’s time to understand the target market and the competitors. Market research involves analyzing economic patterns and gathering customer information. Information like demographics and location can help determine who is buying a product or service and why. 

Some tools to conduct market research may be online surveys or web analytics using search engines like Google. Understanding the competition is sometimes more important than understanding the target consumers. If you find what makes a competitor successful or why customers purchase from them, you may be able to replicate those efforts for your brand. 

Read more: What Is a Market Research Analyst? 2023 Guide

Devising, launching, and coordinating campaigns

Marketing managers use research to devise targeted and effective marketing campaigns. These managers execute and manage the campaign and coordinate the elements of it. Having a concept, message, and call to action is important for gaining customers in marketing campaigns. 

After devising a campaign plan, it’s time to launch it. Using analytics and data gathered during the research phase, marketing managers find the precise day, even time, to launch the campaign. You'll base the timing on the type of campaign (i.e., social media campaign, print, event, etc.), the habits and behaviors of the target audience, and the channels used to launch the campaign. 

Coordinating a campaign involves tracking metrics and analyzing results so that changes can be made along the way, as well as having data after the campaign for future marketing efforts. Look for patterns, check in with the marketing team, and know when to make changes. 

Building relationships

Beyond closing sales and gaining new customers, building relationships is important in marketing management. A good relationship with customers can extend the life of a brand and build a reputation. 

Customer retention should be woven into marketing efforts to create lifelong and loyal consumers. Create a buyer persona early in your marketing efforts, but understand that person’s needs and desires may shift and change in the future. Growing and shifting with desired target consumers is important for a business’s success.

Marketing managers use methods to build audience relationships, like storytelling, interactive emails, free content like blog posts or infographics, and social media polls. Engagement may lead to relationships in marketing, so marketing managers are always looking for ways to engage and connect with target consumers. 

Careers in marketing management

You can find marketing management jobs in most industries that require marketing efforts to generate revenue and build a brand. A marketing management salary can vary based on job title, location, qualifications, and the industry in which they work. 

Review the job titles below to begin your research into career possibilities. Salary average data are taken from Glassdoor, as of January 2023, and includes estimated base pay and additional pay such as bonuses, commissions, and profit sharing.

Marketing manager

Marketing managers develop strategies for companies and help identify target markets based on a product or service. They oversee campaigns and other marketing efforts, use metrics to measure the effectiveness of marketing plans, and work with individuals from a marketing department, ad sales professionals, financial department, and more to coordinate and finance marketing campaigns. 

Average annual salary (US): $75,594 [2]

Social media manager

Social media managers create content for social media networks based on a company’s marketing goals. They may use social media metrics to target efforts while monitoring and measuring the performance of posts. Social media managers are responsible for engaging with customers and maintaining a company's brand via social media networks

Average annual salary (US): $52,044 [3]

Brand manager

Brand managers develop and execute brand strategies for the organizations they work for and implement tactics to achieve brand business objectives. Tasks include staying current on marketing trends and competitive activity, developing the brand narrative and assets, and helping to manage marketing campaigns. Brand managers may work alongside marketing, sales, and creative teams to deliver an engaging brand experience to the target audience.

Average annual salary (US): $75,512 [4]

Director of marketing

A director of marketing is an executive position tasked with making high-level decisions regarding marketing efforts for a company. This position manages all ad campaigns and measures metrics like return on investments (ROI) to determine the effectiveness of marketing efforts and make changes as needed. The marketing director typically works above a marketing manager and other roles within a marketing department. 

Average annual salary (US): $201,996 [5]

Chief marketing officer 

Chief marketing officers, or CMOs, are corporate executives who develop marketing plans and strategies that will boost a company’s sales. This role focuses on a company's future and how and where to place marketing efforts to benefit a company now and in the long term. A CMO typically reports to a CEO or COO. 

Average annual salary (US): $401,259 [6]

How to work in marketing management

To work in marketing management, you’ll need to earn a bachelor’s degree in marketing or a related field and gain professional experience in marketing, business, advertising, or similar. Since careers in marketing management are upper-level managerial positions, you may need to earn a master’s degree and gain extensive professional experience in marketing to move into some positions like CMO. 

1. Earn a bachelor’s degree.

Most jobs in marketing management require a bachelor’s degree in marketing or a related business field.

While earning your degree, you might consider taking courses on consumer behavior, public relations, computer science, and marketing research. Depending on your school, you may be able to specialize in a particular marketing area. Some students may complete internships while earning a degree, which provides hands-on learning opportunities that enhance your resume. In some cases, companies may hire interns after graduation, so it’s a great opportunity to consider if your degree program does not require it. 

Read more: What Can I Do with a Business Management Degree? Skills, Jobs, And Courses

2. Build in-demand marketing skills. 

Your degree program should equip you with many relevant technical and workplace skills. Be sure to research the skills that employers are looking for in a marketing leader. For example, ZipRecruiter's data collected from thousands of real marketing manager job descriptions shows that the 10 skills that appear the most include [7]:

1. Collaboration

2. Digital skills

3. Innovation

4. Marketing strategy

5. Social media

6. Communication

7. Marketing campaigns

8. Digital marketing

9. Project management

10. Marketing planning

Additional skills to prioritize include: content management systems (CMS), digital ad management skills, search engine optimization, customer relationship management (CRM), A/B testing, web analytics, creativity, organizational skills, and problem-solving.

To supplement your degree coursework and build in-demand skills, consider enrolling in online courses like Introduction to Marketing or the Marketing Strategy Specialization, offered on Coursera. 

Read more: 13 Key Marketing Skills to Boost Your Resume

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Introduction to Marketing

Taught by three of Wharton's top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers ...

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Positioning (Marketing), Marketing, Marketing Strategy, Customer Satisfaction

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Marketing Strategy

Develop Your Marketing Strategy. Learn the fundamentals of market research, positioning, the marketing mix and campaign planning.

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Marketing Plan, Market Research, Positioning (Marketing), Value Proposition, Consumer Behaviour, Data Analysis, Market Segmentation, Marketing Process, Market Analysis, Planning, Marketing Strategy

3. Gain marketing experience.

Gaining experience in marketing can be a great way to apply the skills and knowledge you've acquired through degree coursework and additional courses you've taken. Employers want to see that you have first-hand experience handling all aspects of marketing, advertising, and leading a team. Experience demonstrates proficiency in both technical and personal skills. Having professional references may also help you land a job in marketing management. 

Here are four strategies for gaining marketing experience:

• Getting an entry-level marketing job

• Attending networking events online and in person.

• Finding a mentor who works in marketing management.

• Completing an internship in the marketing department of a local company

Read more: How to Use LinkedIn: A Guide to Online Networking

4. Get a certification or certificate in marketing. 

Certifications and certificates can improve your chances of getting hired in marketing management by demonstrating proficiency in specific key skills employers seek. These credentials available for different job titles, industries, and specialties within marketing management. Certification and certificate programs typically involve a series of trainings and coursework. Some programs may conclude with a qualifying exam.  

professional certificate

Google Digital Marketing & E-commerce

This is your path to a career in digital marketing. In this program, you’ll learn in-demand skills that can have you job-ready in less than 6 months. No degree or experience required.

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Marketing, E-Commerce, display advertising, Email Marketing, Search Engine Optimization (SEO), Customer loyalty, Marketing Analytics, Customer Outreach, Website Structure, Customer Awareness, Google, Search Engine Marketing, Social Listening, Social Media Bidding, Customer Engagement, Social Media Analytics, Social Media Branding, Email Writing, Email list segmentation, Email marketing strategy, Email marketing analytics, Contact management, Digital marketing KPIs, Spreadsheet management, Presenting to stakeholders, Media planning and strategies, Fulfillment and delivery, E-commerce platforms, E-Commerce Strategy, Seasonality, Job preparedness, Customer Relationship Management (CRM), Portfolio preparation, E-commerce store optimization, Building customer loyalty

5. Join a marketing association.

Joining a professional marketing organization, like the American Marketing Association (AMA) or the American Association of Advertising Agencies, can offer several benefits, such as: 

• Career support when you are looking for a job

• Invitations to events and conferences

• Access to free resources like webinars and other training materials

• Access to the latest marketing trends and news

Advance your marketing career with Coursera

If you’re ready to get started in marketing management, take the next steps and build the relevant skills you will need to succeed in marketing. Get started today by enrolling in an online course like those offered on Coursera:

professional certificate

Google Digital Marketing & E-commerce

This is your path to a career in digital marketing. In this program, you’ll learn in-demand skills that can have you job-ready in less than 6 months. No degree or experience required.

4.8

(11,876 ratings)

314,949 already enrolled

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Average time: 6 month(s)

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Skills you'll build:

Marketing, E-Commerce, display advertising, Email Marketing, Search Engine Optimization (SEO), Customer loyalty, Marketing Analytics, Customer Outreach, Website Structure, Customer Awareness, Google, Search Engine Marketing, Social Listening, Social Media Bidding, Customer Engagement, Social Media Analytics, Social Media Branding, Email Writing, Email list segmentation, Email marketing strategy, Email marketing analytics, Contact management, Digital marketing KPIs, Spreadsheet management, Presenting to stakeholders, Media planning and strategies, Fulfillment and delivery, E-commerce platforms, E-Commerce Strategy, Seasonality, Job preparedness, Customer Relationship Management (CRM), Portfolio preparation, E-commerce store optimization, Building customer loyalty

professional certificate

Meta Marketing Analytics

Launch Your Career in Marketing Analytics. Build in-demand skills and gain credentials to go from beginner to job-ready in 5 months or less. No degree or prior experience required.

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Average time: 7 month(s)

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Skills you'll build:

Marketing Strategy, Data Analysis, Marketing Mix Optimization, Statistics for Marketing, Advertising Effectiveness Evaluation, Marketing, Digital Marketing, Python Programming, Tableau Software, Data Visualization (DataViz), Statistical Analysis, Linear Regression, Statistical Hypothesis Testing, Marketing Mix Modeling, Marketing Plan, A/B Testing, Meta advertising, Social Media Marketing, Ads Manager, Marketing Science, Facebook Advertising