Why Management Marketing?
Every organization whether a business, not-for-profit, or government agency, does two things – produces a product or service and sells that product to a willing and able customer. Management and marketing are the two disciplines that produce and sell those products.
Management is concerned with running the internal operations of a firm with a focus on being effective and efficient to earn a profit (or positive cash flow) for long-term sustainability. Marketing is concerned with the external operations of a firm identifying willing customers, placing the product where the consumer can purchase it, promoting it to increase desire, and pricing it to be both attractive to the buyer and profitable for the company.
Mastering both skill sets is normally a prerequisite to senior management in most organizations. Studies show that 80 to 90% of all CEOs and COOs come out of the management & marketing ranks. Balancing the operational tasks, creating a motivating working environment, and capturing a large market share are skills the successful executive learns, develops, and masters over their career.
Careers in management and marketing are found in almost every industry including banking and finance, healthcare, insurance, manufacturing and retail operations.
The job outlook for management and marketing majors continues to be high. A balanced business administration skill set will provide more opportunities; accounting, economics, finance, IT, management and marketing.