Walking around your neighbourhood, you must have noticed a big billboard advertising a certain product or service a company is offering. After some days, the same advertisement appears in the newspaper and this time with bigger discounts and steal deals. Seeing all this might convince you to grab these deals. If these advertisements are able to influence a huge mass of people, then it marks the success of a Marketer. Every business or company strives that its product catches every eye and reaches every door. To make this successful, Marketing is something that is heavily relied upon. In this blog, let us discuss everything you need to know about the scope of marketing as a career and the incredible heights it can take you to especially the digital age!
This Blog Includes:
- What is Marketing?
- Nature and Scope of Marketing
- Scope Of Marketing As A Career: Trending Specializations & Career Profiles
- Scope of International Marketing
- Scope of Advertising
What is Marketing?
Marketing is an area of study which involves all those activities undertaken to draw the attention of the target audience or a large mass of people and influence them to a great extent. In terms of business, marketing strives to catch the customers’ attention and convince them cleverly to buy or avail certain products or services the business offers, through the help of marketing strategies. Talking about the scope of marketing, this career field is pervasive and the marketing graduates can find themselves at some of the most prestigious positions in the corporate world as well as in the governmental sector.
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Nature and Scope of Marketing
The most important part of marketing is knowing exactly what to do. Marketing is one of the very crucial parts of any business, project or enterprise. So, the scope of marketing is very diversified and includes the knowledge and involvement of different fields:
- Product/ Service
A product/ service is what will be marketed. If there is no product or service, there can be no marketing. These should be of high quality and the marketer should be aware of every part of the product in order to market it in the best possible way.
Before starting the process, one should know what their customers are. If you are targeting a large crowd, you are targeting no one. Be specific with what geography, age limit, gender, etc you want to market your product to. For this, you need to deep-dive into their demographics, buyer behaviour, customer attitude, etc.
In this, you need to know how your product or service is reaching the customer. Is it through a third-party member, direct, wholesale, or any other manner. You should also be aware of the transportation, inventory, etc used in the process.
A good product will only be known to the customer if it is promoted correctly. In this, the strategies you create including advertisement, sales, marketing, digital marketing, public relations, etc will oversee your brand promotion.
- Cost of Product
Despite all the promotion, if the product is not worth the cost, customers will not buy it and the leads will be for waste. Hence it is important to keep a proper pricing that matches the market requirement or a product that matches its asked cost.
- Customer Feedback
Chances will be that many or a few customers might not like the product or have feedback for improvement. This can be used to improve the quality of the product and improve customer relations.
Scope Of Marketing As A Career: Trending Specializations & Career Profiles
Marketing thrives on dynamism. It is natural for the customers to switch to products they find more useful and economical. In order to sustain them and win their trust, every company tries hard to market their products, influence their customers and uplift the sales graph. The scope of marketing has now become huge enough to have made a big impact on almost all the aspects of the business and this is how the specializations of marketing have been formed. Right from the technical aspect to personal marketing, below are five main and the most sought-after marketing specializations aspirants can go for.
Marketing Research and Analytics
Marketing Research Analysts are employed by a company or business to identify various marketing opportunities and gather information about the nature of the market and customers that are to be targetted. In order to gain skills for entering this field of marketing specialization, aspirants can pursue various courses in Market Research, Consumer Behaviour, Customer Analytics, Quantitative Research, Customer Insights, Business Analytics, Neuromarketing, and so on. The students who graduate with the aforementioned courses can get enormous career opportunities in the corporate world by working as Business Development Manager, Marketing Research Associate, Research Executive, Operations Director, Statistician, Data Processor, etc.
Managing the relationship and spread of positive information about an organization to the public is what a Public Relation Officer actually does. Public Relations is one of the most important and popular specializations coming within the scope of marketing, which deals with advertising and marketing to a certain target audience to cultivate public interest and give out important information. A number of universities abroad offer a multitude of Public Relations courses, where the graduates find some amazing employment opportunities in both private and public sectors and work as Marketing Managers, Public Relations Specialist and Communication Manager, to name a few.
Scope of Digital Marketing
In the wider scope of marketing, the one which stays at par with the contemporary technology is Digital Marketing. It manages the online outreach of the business or company and craft the marketing strategies to popularize their products or services through the online medium such as social media, market research, search engine optimization, brand management, newsletters and so on. The ones aspiring for a career in digital marketing can opt for courses such as MSc in Business and Digital Marketing, BA in Digital Marketing, MBA in Digital Marketing, etc. The scope of marketing in this specialization is quite huge as some of the most popular digital marketing jobs for freshers include positions like Digital Marketing Manager, SEO Consultant, SEM/PPC Expert, Web Designer/Developer, Social Media Manager, Content Writer, Content Marketer and so on.
Scope of Marketing Management
It includes the practical application of marketing and its pivotal techniques to draw the attention of customers and engage them to the product or services the business offers. The specialization of marketing management often provides the graduates with opportunities for working in fields such as brand audits, marketing projects/campaigns, developing and executing the marketing strategies. The students who look forward to pursuing this field in the scope of marketing often pursue a specialized course such as Certificate, Diploma, Bachelor’s and Masters in Marketing Management.
Increasing the online reach of the customers on social media platforms, the social media marketers aim to increase the online traffic and influence a huge mass of people through crafting various marketing strategies such as campaigns and other projects on the social media sites. The scope of marketing in social media makes up for amazing career opportunities even at the entry-level. The fresh graduates can start their career as social media coordinators and social media specialists wherein they have to manage platforms such as Facebook, Instagram, Twitter, etc. and catch the attention of the target customers and market their products or services in exciting and creative ways.
Scope of International Marketing
International Marketing includes exporting goods and services in a foreign market. The exporter has to take care of several parts of the job including establishing a branch in foreign market or joint ventures and collaborations, arranging all the required licenses. They also have to offer consultancy services, knowing the technical and managerial aspects of the work.
Scope of Advertising
Advertising is one of the most crucial parts of marketing. It helps the company to communicate with the customers and potential grow new customers. The scope of advertising includes planning budgets for advertising, deliverables from the team to take the process in a smooth manner, allocating those deliverables to the department and executing it. One of the most important parts of it is strategizing and combining all the efforts in advertisements to make it a success.
Some more specializations that you can consider pursuing under the immense scope of marketing include,
Giving customers post-purchase assistance is part of marketing management’s remit in order to keep their business, foster brand loyalty, and improve the company’s reputation. Additionally, it entails getting consumer feedback to determine how satisfied customers are.
The direction of the flow of goods and services from producer to customer or user is determined by how economic activities are carried out. The marketing process is dynamic. a group of related processes: A complicated, ongoing, and interconnected process is marketing. Continuous planning, execution, and control are required.
All internal and external elements that directly or indirectly affect an organization’s choices regarding its marketing strategies are collectively referred to as the marketing environment. While external influences are out of an organization’s control, internal elements are under its control.
We hope that we have provided you with all the information regarding the scope of marketing as a career. If you are looking forward to becoming the next marketing player in the corporate world and study a degree in marketing abroad, then Leverage Edu is here. Our mentors can help you in choosing the best course and university that suits your interests, skills and preferences and can equip you with the necessary knowledge and exposure to wing your dreams. Book your 30 minutes of free career counselling session with us now and get all your queries answered!