Concept explainers
To determine: The task performed, skills needed, pay, and opportunity outlook of the career.
Introduction:
Marketing managers are responsible for the marketing strategy of the company. Marketing strategy is used to attract and retain the customer for the company.
Answer to Problem 1CE
Marketing manager handles the marketing strategies of the company and also handles the pricing strategy. Some of the skill sets required are like marketing manager should be creative, problem-solving ability, and good communicational skills. The median hourly wage rate in this career is $62.20 and median annual wage rate is $129,380. The opportunity outlook for the career is that is projected to grow 10% from 2016 to 2026.
Explanation of Solution
Marketing managers estimates the demand for a particular product, think and execute its pricing strategy and promotion strategy. The skill set which a marketing manager requires is mentioned below:
- Creativity.
- Problem-solving ability.
- Conceptual knowledge of the field.
- Can perform under pressure.
- Good critical thinking skills.
- Passion for details.
- Communicates well with others.
The wage rate of an employee working in this career is:
- Median hourly wage rate is $62.20.
- Median annual wage rate is $129,380.
The opportunity outlook for the career is that it has chances to grow 10% from the year 2016 to 2026. The growth rate of occupation is more than the average growth rate of other occupations. This job will continue to hold importance in the future world, as the company will keep on their focus for market share and more profit.
Thus, these are the details of career exploration on the top executive.
Want to see more full solutions like this?
Chapter 14 Solutions
EBK UNDERSTANDING BUSINESS
- Choose the best answerarrow_forwardWhy do most companies use workday as human resource information system (HRIS)? pros and cons?arrow_forwardCan you guys help me with this? Thank you! What did you learn this semester for Fall 2024? How do you plan to utilize this content in your real life in your professional and personal career? Please describe a concept and apply how you will use it in your professional career. Here are what I learned from this semester: Contingency Factors include size, organizational technology, the external environment, goals and strategy, and organizational culture. The Triple Bottom Line includes the three Ps: People, Planet, and Profit. Intergroup Conflict Here are three sources that help to work on this question: Article Influence of contingency factors on the socioeconomic performance of local governments by Clovis Fiirst & Ilse Maria Beuren Article Triple Bottom Line toward a Holistic Framework for Sustainability: A Systematic Review by Vittoria Loviscek The book chapter (5. Intergroup Conflict) from The Resolution of Conflict: Constructive and Destructive Processes from Morton Deutscharrow_forward
- Late Night Cookies spends $160 on ingredients and boxes to make 100 boxed orders of cookies. This means that the variable cost per box of cookies is $1.60. It sells a single box for $8. Its monthly fixed cost is $653. Use the information above to help you fill out the break-even formula below. A blank formula to find break-even units Hint Submit HINT 1 First, identify your total fixed costs. It says in the problem that your fixed costs are $653.arrow_forwardCould you please explain the answers of each column to this question in detail according to the answer table I provided? Why the critical path will change, how the project duration will change and why the free float and total float are those number listed?arrow_forwardHow would the critical path, float and project duration change if: Situation 1 2 3 Description D starts 3 days after A starts B can start 2 days after A starts F can start 5 days after D starts Dependency Will Critical Path Change? Project Duration Total Float Free Float On D On D On B On B On F On Farrow_forward
