Retail business is the cornerstone of any economy. Retail outlets provide the shops and stores that allow the general population to purchase their daily necessities and this common demand creates the various markets. It not only creates the sales markets, but the employment markets as well. There are very few vocations for the average individual to follow that can create a climate of job security like retail marketing experience.
Most retail marketing positions require a degree in retail management or a related field. Check out the programs below which offer free information:
Retail marketing is a broad-based career and ranges dramatically in both single and multiple product lines. There is any number of national retail franchises that are constantly on the lookout for honest and dependable individuals who are willing to be trained within the scope of a particular franchise branding system. However, retail marketers are not necessarily assigned to the various department store chains around the world. For a product to be successful, it must be marketed efficiently and that includes everything that is available for purchase.
Retail Marketing Job Responsibilities
Retail marketing is a very general career field, but there are many rules that apply in all retail operations. Marketing can include a store’s particular approach to marketing strategies, including display methods and point of sale standards. Keeping a store within store standards is one of the most important things that associates can do, as the store’s appearance is a critical marketing device. Stores regularly change floor plans purposely for marketing and sales reasons.
The goal of the focus on effective retail marketing is to enhance store growth and increase sales, but a store’s forecast can force retail marketers to adjust according to trends or unforeseen circumstances. Effective retail marketers should have the ability to shift marketing strategies in certain situations.
Retail marketers are largely responsible for knowing store inventories and core items, along with any particulars involving an attractive suggestive sales marketing program. Understanding franchise branding is crucial to any retail marketer, regardless of the merchandise.
Though we usually think of retail marketing in terms of consumable items, retail marketers are often involved in promoting durable goods and luxury items. In many of these cases, retail marketing managers can be involved in regional and national advertising campaigns when associated with any particular item.
Retail Marketing Training and Education Requirements
There are no training or education requirements for entry level retail marketing positions. Most retail businesses will require any potential applicant to have a minimum of a high school diploma. For the individual who is considering a career in retail marketing management, that may not be the case.
Successful retail marketing managers need a bachelor’s degree in marketing or a business discipline. Along with formal post-secondary training, good retail marketers are proficient in economics. statistics, mathematics and language. Attention to detail is imperative for any marketer who is in charge of large of inventories, along with effective organizational skills.
Many retail marketers are in positions of charge, including cash register oversight and loss prevention. Depending on the size of the company, retail marketers can also be specialists within the marketing divisions and do not have overall store responsibilities. Specialist curriculum in inventory management could also apply in the right employment situation. Many retail managers and marketers have used two-year degree programs to start their careers, often working their way through college.
Retail Marketing Jobs Salary and Wages
The Bureau of Labor Statistics lists the median salary of retail marketers as $85K per year. This number can be skewed by the huge disparity in operation sizes and job responsibilities. Retail marketers are essential management personnel in almost every case, but any individual who is just beginning their career should not expect this compensation rate. Retail marketers are generally promoted through the ranks of the employees because of emphasis in retail business on dependability and honesty. Retail marketers with large corporations can, likewise, expect to be compensated by industry standards based on the talent of the particular individual. Many independent marketing companies secure huge marketing contracts and often the pay of the marketer is tied to value of the contract.*
*According to the BLS, http://www.bls.gov/oco/
Retail Marketer Certifications
Retail marketers have no professional license or certification requirement, but any certifications that fall within the scope of their particular responsibilities is always a plus. Retail marketers who are in charge of large budgets could easily apply a CPA licensing on a regular basis, but this normally only occurs at the upper levels of management.
Retail Marketers Professional Associations
There is no shortage of of professional associations for anyone considering or already employed in the retail marketing career field. Examples of retail trade associations include the Professional Retail Store Association, the American Marketing Association, the National Association for Retail Marketing Services and the Retail Management Association. These professional fraternal organizations provide networking resources for marketing professionals, along with the opportunity to discuss both general and specific problems facing any particular niche of their industries.