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| Brand Management Career Overview Success in consumer products—which is where most brand management careers are found—is all about marketing, often by promoting a brand name. While the actual job description varies widely, most brand managers have at least one thing in common: They're part of huge conglomerates that produce many name-brand products. Size gives these large companies economies of scale, and a diversity of products provides protection against down cycles. Which is not to say that cute little mail-order pickle and jam companies don't crop up every now and then and make a serious go of it. They do. These places aren't where the majority of the jobs are, however—at least not until Unilever or Nestlé takes them over. In the packaged goods game the competition is ferocious for shelf space, so package design, marketing, and customer satisfaction are key elements. In brand management, you'll be responsible for managing all of these elements as they relate to the brand to which you're assigned. What You'll Do The basic analogy for brand management is that brands are treated like businesses within the company and brand managers are essentially small-business owners. The job involves:
Brand managers craft elegant business plans and submit them to senior management. Then, when the price of the key ingredient in their product goes through the roof because of locust plagues, they rewrite the business plan from scratch with many more contingencies. They focus on the minutiae of a daily sales volume report, and they dream big dreams when it's time to update the vision for the brand. They approach upper-level management for capital to fund a new product launch or a line extension in much the same way that small business owners go to venture capitalists or banks to fund expansion. Who Does Well Insiders tell us that successful brand management professionals are natural leaders who aren't afraid to take the initiative, who are comfortable working with cross-functional teams to get results, and who can communicate their vision to others. This field draws on both creative and analytical skills, so be prepared to switch gears from one to the other. If you're interested in developing your leadership skills, brand management is the place to be. Sure, there may be layers of decision makers above you, but how many other settings allow a 30-year-old to own and operate a $60 million business after five years of work experience and an MBA? For many aspiring entrepreneurs, brand management looks like the perfect training ground. Requirements Brand management is considered part of the marketing function, and most aspiring brand managers have had some experience in advertising, promotions, or sales. However, consumer packaged goods companies are very interested in candidates who have honed their analytical and leadership skills in other disciplines, including consulting, investment banking, or strategic planning. If you have no previous experience in marketing, a summer internship can be enormously helpful. Many companies offer summer internships, which often result in a job offer after graduation. Recruiters look for leadership, analytical skills, problem solving ability, teamwork, and creativity. Successful applicants should have at least an undergraduate degree in business, liberal arts, or a related field. Philosophy majors and engineers are equally welcome to apply, if they can demonstrate skills in the five areas just mentioned. Most companies look for candidates with at least a 3.5 GPA. The more work experience and leadership and teamwork experience (in a sorority/fraternity, school club, or sports team) you can show, the better. Job Outlook According to the 2006-07 Occupational Outlook Handbook from the U.S. Bureau of Labor Statistics (BLS), employment in the field of marketing overall is expected to increase faster than average—at an 18-to-26-percent clip—through 2014. The BLS says that this sustained job growth will be supported by increasingly intense domestic and global competition in consumer products and services, but cautions that budding marketers should expect increased competition for full-time corporate marketing positions as marketing projects (including brand management) are increasingly outsourced to ad agencies and contract specialists. Brand managers who were able to hang onto their jobs through the recession have been forced to work with drastically reduced budgets, leaving them hard-pressed to deliver the major product wins they need to advance their companies—and their careers. On the other hand, brand managers with specialized scientific or industry expertise may find they are in a stronger position to land plum jobs with major ad agencies as the economy begins to show signs of life. Specifically, technical and health-care sector expertise will prove most valuable, as these industries will certainly be hiring. Career Tracks The career tracks at most companies feature plenty of opportunities for cross-functional experience and varied work assignments. At some companies, experience in functions other than marketing has become a prerequisite for advancement. Despite the flexibility in career path development, there are clearly defined entry-level positions: marketing analyst, or sales representative, or assistant brand manager (MBAs). The path from marketing analyst to assistant brand manager to brand manager is a progression from executing to developing strategy. Continuing along the path involves a shift from participating in cross-functional teams to leading them and from monitoring a business budget to assuming profit-and-loss responsibility. At some point along this path, most companies send aspiring managers out into the field for extensive sales training, aka "the reality check." Marketing Assistant/Analyst Supporting a few brand managers or assistant brand managers, a marketing analyst must balance tasks to keep everybody smiling. Most analysts spend two to three years honing their skills, then accept a promotion to assistant brand manager or head off to business school. You may work on one major brand (say, Diet Coke) or a group of smaller brands. Most of your work will involve poring through reams of data. Yes, you will have the opportunity to sit in on divisional meetings and strategy sessions, but the bulk of your work will be more "tactical," a euphemism for number crunching. You'll be balancing budgets, constructing competitive analyses, tracking consumer premium orders, and other such duties. Successful marketing analysts execute assignments efficiently and accurately. Assistant Brand Manager As an assistant brand manager, it is your job to coordinate the various marketing functions, including packaging, advertising, promotions, and public relations, in order to execute the marketing plan. In the course of executing the plan, you will head up a number of cross-functional teams that work on various parts of your business. For example, a product improvement project may bring together R&D, marketing research, packaging, finance, and operations. A change in your consumer promotion plan might require a coordinated effort between representatives from promotions and operations. Assistant brand managers shift gears all day long. One minute they're brainstorming new promotion ideas, the next they're wading through monthly volume projections. Brand Manager Our insiders describe this role as being "captain of a ship," guiding your cross-functional crew through such treacherous waters as annual plans, new product launches, competitive analyses, promotional strategies, and capacity planning at your production facilities. The safe port you're steering toward consists of the volume, market share, and profit targets for your brand—you now own the bottom line on the profit-and-loss (P&L) statement for your business. You also take on additional responsibilities at the business unit, division, or corporate level. These might range from serving on a company-wide task force that is reviewing trade spending across different brands to leading the recruiting team at your alma mater. You are also responsible for the performance of the marketing analysts and assistant brand managers who work on your business. Marketing Director Marketing directors are responsible for a whole business unit, guiding overall strategy by coordinating the efforts of brand managers and assistant brand managers and ensuring that the brand teams remain focused on the key strategic issues. It is your job to communicate with the executive wing and to ensure that your brands receive the resources and capital they need to grow. Because you are responsible for the business unit's P&L, the workload can be heavy at times, but your generous compensation package justifies the effort. Compensation Recent college grads can expect a starting salary of $35,000 to $50,000. MBAs used to start at paltry salaries compared to their banking and consulting peers, but today MBAs from top-tier schools going to large consumer packaged goods companies routinely start with salaries of $90,000 or higher and signing bonuses of $15,000 or more. Most companies have end-of-year bonus programs. Bonuses can be generous, depending on individual and company-wide performance. Stock options programs vary from company to company, but they are often offered to both undergrads and MBAs. Though stock options may not be as plentiful (or as valuable) as during the boom years, many companies still offer stock options to employees to keep everyone focused on winning in the marketplace. Most brand management companies offer a generous 401(k) plan, match charitable contributions, and support volunteer activities. Many of the large companies have cafeterias and health clubs in-house. As part of their effort to retain employees, companies are adding such services as a personal concierge who will get you tickets to the theater or send flowers to your mother for her birthday. VIP coupons from your brand offer the bearer free products at the grocery store; they make fine gifts and stocking stuffers, especially if you work on a brand like Häagen-Dazs. Brand Management Job Listings Assistant Brand Manager Brand Manager |
