Now this is interesting. I am doubting that the Wages of Canadian Marketers and Sales Managers are at par with these US Marketing Earnings listed by the US Labor Relations – but I thought it might be interesting to list them.

Advertising, marketing, promotions, public relations, and sales managers:

Median annual earnings in May 2004 were $63,610 for advertising and promotions managers, $87,640 for marketing managers, $84,220 sales managers, and $70,000 for public relations managers.

Median annual earnings of advertising and promotions managers in May 2004 in the advertising and related services industry were $89,570.

Median annual earnings in the industries employing the largest numbers of marketing managers in May 2004 were as follows:

-Computer systems design and related services $107,030
-Management of companies and enterprises 98,700
-Insurance carriers 86,810
-Architectural, engineering, and related services 83,610
-Depository credit intermediation 76,450

Median annual earnings in the industries employing the largest numbers of sales managers in May 2004 were as follows:

-Computer systems design and related services $119,140
-Wholesale electronic markets and agents and brokers 101,930
-Automobile dealers 97,460
-Management of companies and enterprises 95,410
-Machinery, equipment, and supplies merchant wholesalers 84,680

According to a National Association of Colleges and Employers survey, starting salaries for marketing majors graduating in 2005 averaged $33,873; starting salaries for advertising majors averaged “

Interesting, a definition that explains marketing at its most comprehensive level.

I did not know in the early days that PLANNING was so critical. I was one of those people who completely misunderstood that Research, Analytics and Development (RAD) were such a huge part of the Marketing process.

I was also one of those people who thought that Marketing was all Advertising Creative (design and communications). LOL. How silly was I?

Here’s the real truth.

Definition of Marketing: “‘Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives.’
-Contemporary Marketing Wired (1998) by Boone and Kurtz. Dryden Press.”

Below are other links to other definitions of marketing: (provided by http://iws.ohiolink.edu/moti/homedefinition.htm):

Oxford English Dictionary (an OhioLINK source)
http://www.ohiolink.edu/cgi-bin/oed-entries.pl?250389683=marketing

On-Line Women’s Business Center
http://www.onlinewbc.org/docs/market/mk_what_is.html

Japan Marketing Association
http://www.jma-jp.org/eng/eteigi.htm

The Death of Marketing
http://www.innovell.com/Marketing/

The Double-Edged Sword Of Marketing
http://www.hawo.stw.uni-erlangen.de/~asheiduk/pgg/06R/06R088.html

Interesting subject matter came to my attention today. It was on the topic of Marketing Science. (See below). My curiosity must be curbed by knowing how beneficial if at all this art of Marketing Science can be to Small Businesses? Should they learn more about Marketing Science in effort to make better decisions? And if not, at what point in a business cycle does this become relevant?

Do you know?

Reprints Marketing Science:
“MARKETING SCIENCE
mktsci.pubs.informs.org

Spotlighting the Marketplace

At the upper echelon of business and marketing journals, Marketing Science offers cutting-edge research as well as new insights and approaches to current marketing-related problems. Discover the latest findings in the global marketplace supported by detailed results prepared through rigorous scientific methodology and reviewed by prestigious scholars in the field of marketing science. Marketing Science provides help for marketing decision-makers and a deeper understanding of marketing phenomena. Topics include new product decisions, pricing decisions, advertising decisions, product-line management, forecasting, competitive strategy, services marketing, targetability, segmentation, strategic marketing decisions, consumer choice modeling, salesforce management, models of consumer perceptions of physical stimuli, purchase behavior, impact of electronic commerce on markets, advertising and promotion analysis, market research, and interactions between manufacturers and retailers. Articles often feature mathematical models, game theory, multivariate analyses, econometric techniques, psychometric approaches and choice models. Quarterly.”

I have been educating clients for years on Life Time Value of Customers. This concept is so incredibly important to the Big Picture of your Business as well as the baby steps you commit to with your daily Marketing Efforts.

In my searches today, I came across a blog posting today that makes note of a new book on the subject.

Marketing Research – Knowledge@Wharton: “What Are Your Customers Really Worth?
In their book titled, Managing Customers as Investments: The Strategic Value of Customers in the Long Run (Wharton School Publishing), authors Sunil Gupta and Donald R. Lehmann offer practical examples and case studies to help companies estimate the lifetime value of their customers. That information, the authors suggest, can then be used to make better strategic decisions about customer acquisition, service, retention and segmentation. Knowledge@Wharton has excerpted a section of the book.”

Has anyone read this book? I would love to hear more about what you gained from it if you have?

If you want some great Marketing Ideas, it might not be a bad idea to pay attention to the folks over at Harvard. They know “genius” when they see it!

Just take a look at:

Amy Campbell’s Web Log » Steal These Ideas!

She’s brilliant! And many of her recommendations got my mind spinning!

I especially liked her references to: Deadly Selling Mistakes and Thinking Virally!

She’s my new favorite smart person! )