What does the study of marketing entail? The study of marketing involves learning different methods of approach to get products in the form of goods and services to the target consumer, and learning how to handle other factors that may influence this process. The marketer is the link that connects the producer and his product to the consumer.
One of the most important facets of a business is marketing, therefore having experts in this area on staff is now more important than ever. Over the years, marketing has grown in popularity among students, and many are now thinking about making it their career. In this article, we’ll talk about this field of study, cutting across its history, importance, employment prospects, courses or studies that are related to it, and typical salaries.
The act of marketing involves giving future and current consumers the chance to interact with the goods or services that a person or business is providing. As a subject of study, The field may be quite complex. This is so because buying and selling are integral to every sector and business since they are the sole means of making money and expanding. Studying and becoming an expert in this discipline exposes one to the wants, psychology, and anxieties of people as well as how these things connect to their immediate surroundings and the commodity or service being offered. Without effective marketing, no company can exist! Absolutely none.
One could even argue that marketing is the most crucial element of a company and for good reason. A decent product (tangible products or an intangible service) that is poorly promoted is likely to stay a product in the producer’s hands and won’t solve a problem or generate revenue. On the other hand, it’s funny how a subpar product may make money if it’s correctly advertised.
It is a must for any company or institution. As long as the aforementioned company or organization has goods to sell, it needs them. anything from food and groceries to medicines, services provided by competent experts of any kind, music, and even something as abstract as a concept can be marketed. This demonstrates how critical marketing is. It may make a difference in whether a company is successful or not. The entire planet is literally an open market.
Origin of Marketing
The origin of this discipline is not clear as its history is debated among different schools of thought. Truth be told though, marketing and its art has been in existence for a long period. From different ages and civilizations. The art has been refined to meet up with the current society in every century and the trends that accompany it.
Brand identity, advertisement, and packaging which are strong components of this course of study have been around for a long time. From medieval times till the modern world. Now they are used hand in hand with other concepts to constitute marketing strategies. Different systems of trading and different markets have been influenced by this discipline and its concept.
Although marketing has been around for a while, it wasn’t until the middle of the 20th century that it became a field of study. At the Wharton School of the University of Pennsylvania, the first official course debuted in 1902. The course’s initial emphasis was on advertising, but as time went on, it also covered topics like positioning, market research, and consumer behavior.
Importance Of the Discipline
It is impossible to overstate the value of this discipline. Every talent, craft, and business must be promoted and promoted effectively. Every trade in life is a business, and businesses requires it. This article’s overview stated that “without marketing, no company can exist.” Let’s examine some of the advantages of marketing with this in mind.
- Pronounced Increase in sales: Sales are the life force of business, without sales there can’t be profit. The study of this discipline and its art is what primarily converts individuals to consumers/customers.
- It promotes awareness of a business to the public and increases the chances of interactions between the consumer and the product or service.
- It also creates a relationship between the producer and consumer. Enlightening the producer on the needs of the consumer.
- It drives businesses to reach their target market and create brand awareness.
Businesses can differentiate themselves from rivals, attract and retain customers, and ultimately increase profits through marketing, which involves promoting a product or service to customers, identifying their needs, and developing strategies to meet those needs. This is how Marketing is important because it helps businesses reach their target market and create brand awareness.
Job Opportunities in this discipline
There are numerous job opportunities available to graduates in this field of study. They can work in various industries, including advertising, public relations, sales, and digital marketing. Examples of positions that can be held by marketers include:
- Marketing manager
- Brand manager
- Market researcher
- Advertising and promotions manager
- Sales representative.
Knowing this discipline could also really help your career choice. From helping in running an organization, pushing a product, advertising, or marketing your skill or product in the case of self-employment. Find out More information about how marketing could improve your career here. LEARN MORE.
Related Courses to Marketing
These courses can be treated as part of marketing or even an entire discipline on its own. So, in other words, many related courses or studies complement this field of study and can be taken by students pursuing marketing. Some of these courses include:
- Digital marketing
- Public relations
- Market research
- Consumer behavior
- Brand management
These courses broaden the students’ perspectives on marketing and make them more attractive to employers because they possess a deep understanding of all facets of marketing.
Projected Earnings in the Field of Marketing
The future is quite bright for graduates in this field in terms of average salary. As of May 2020, the median annual wage for managers of marketing, advertising, and promotions was $135,900, according to the Bureau of Labor Statistics. The wage varies among other things based on the size of the firm and the sector.
In conclusion, students interested in a marketing career have access to various prospects through the study of marketing. It helps students to acquire the abilities and information required to advertise and sell goods and services, determine consumer needs, and create business plans. Additionally, there are a lot of work prospects for students to pick from, as well as courses that complement marketing that are accessible. This course of study surely provides a fascinating and fulfilling career path to follow given its favorable wage outlook and the significance of marketing in organizations.