Before venturing into the realm of marketing and aspiring to pursue marketing manager careers, it is imperative that you first gain deeper insights into marketing as-well-as its operation.
Some people believe that marketing is merely strategizing to sell a commodity; however, it encompasses an extensive range of tasks such as sales and sales management, advertising, product development, as-well-as public relations.
People buy into many misconceptions, often spread from word of mouth or misleading internet websites. However, this article will bust some of the most common myths regarding the role of a product marketing manager.
Misconceptions About The Job of a Product Marketing Manager
Check out these common myths that prevail amongst copious aspirants as-well-as other people, which misleads them to developing a false notion against the role –
1. Marketing Director and Manager have the Same Role
The job of a marketing manager differs from that of the marketing director, but people associate the two with similar meaning. They believe that the roles of managers and directors hardly differ since they both direct their underlings.
The marketing director holds the highest position in the hierarchy of the marketing department and supervises all the marketing activities. He is thoroughly informed about every marketing proportion within the company.
To become a marketing director, you are required to attain at least a bachelor’s degree in marketing. The job demands a lot of experience and good knowledge of mathematics and statistics, as you must devise the budget of the department and carry out other financial calculations.
Marketing manager jobs require you to determine the demand for services and products provided by your company and the competitors, and you must also single out potential consumers.
Marketing manager jobs comprise formulating pricing strategies so that you can maximize profits. You are also required to supervise product development and monitor the latest trends to develop new products and services.
2. Constant Advertisement is not Worth it.
If you are a product marketing manager, you must know that advertising only when your company needs customers is an incompetent strategy and a myth.
This is because advertising must be an ongoing and uninterrupted activity since there exists a break-time between the advertisement and when the potential consumers respond to it.
Continuous advertisements are more effective than short preview time advertisements. This way, potential customers can have more time to know your product.
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3. Follow Successful Marketing Strategies from other Companies
Another myth is copying what the other marketing company has implemented, provided it has achieved successful results.
This ideology is a common occurrence whenever one marketing strategy enforced by a competing company successfully entices its potential customers.
Because of this, other marketing companies start mimicking the same ideology, and the next thing that happens is that every company is doing the same thing.
However, this is not a healthy strategy because what worked for other companies might not necessarily be in the best interests of your company because of different parameters such as brand name or financial situations.
A more successful bet in retaining a loyal customer base is to find a unique proposition than what worked for other companies.
4. Target Only a Certain Group of Customers
Another misconception is that product marketing managers must neglect other groups of customers in the sacrifice of only one.
Marketing companies often target only one or two groups of potential customers and partially, if not completely ignore the other lot. This step can severely limit your cash inflow and reputation in the competitive market.
It is always a better approach if your marketing strategy embraces all the target groups. In that way, you will save time, effort, and capital, while also reaching a wider audience.
5. Always Seek New Customers
Another myth is product marketing managers devising strategies that only encompass points to sell products to new customers. Every product requires patron customers.
In some studies, 80% of products purchased were from current customers, while only 20% were from the new patrons, so you must take care of your regular customers (Source).
While it is good to expand your dominion to a newer customer base, you must prioritize your existing customers as they are the steady sources of your revenue.
6. Results must come fast, or else the Strategy is Incompetent.
Another common misconception is that marketing managers anticipate swift results. They often expect instantaneous results from their implemented strategies and a sudden surge in sales figures.
It is a common misinterpretation that whenever an advertisement of a product gets made, managers get agitated and hope that potential customers will acknowledge it and purchase it after a few commercials.
Marketing is a long-term strategy, and thus, managers can expect to have a plethora of customers that stick around for the long-run; however, they will not come by immediately as it takes a while for the people to fully understand your product and weigh the pros and cons before making a purchase.
7. Traditional Media is the Only Means to Market
Print, television, and radio promotions play pivotal roles in marketing; however, some of the most promising opportunities lie in the digital world.
This marketing field thrives with internet-based tools, and thus, digital marketers must be proficient in digital media as-well-as data analysis.
A product marketing manager must take into account an organization’s online presence and strive to boost brand awareness and customer loyalty via digital campaigns.
Social media platforms and other internet-based advertisement tools can reach out to an extensive group of people because of an increasing number of people being online for prolonged periods.
Developing marketing strategies for your company might feel overwhelming if you are not aware of these common misconceptions; however, after going through this list, you can formulate your strategies more efficiently and steer clear of the common pitfalls.
Check out these product marketing manager jobs online to help you get a jump start in your career, provided that you adhere to avoid common misconceptions and devise intellectual strategies for your organization.
While product managers must drive sales just when their products hit the market, the key is not to act hastily and never compare yourself with your competitors as every company demands different strategic actions.