All You Need to Know About Marketing Manager’s Salary in India
It is 2022, and the need for marketing managers in organizations is more than ever for managing costs, coordinating with resources, implementing growth strategies, evaluating performances, and others. The latest survey, conducted by the India Brand Equity Foundation, popularly known as IBEF, revealed that the advertising and marketing industry is the second-fastest growing industry in Asia. And, in an industry that works on demand and supply, the need for skilled and educated professionals is higher.
However, before stepping into a new industry during uncertain times, evaluating the scope and growth is imperative. So, for all the aspirants who want to become a marketing manager in the foreseeable future, we’ve put together the details about marketing manager.
Marketing Managers and Their Scope of Work
Marketing managers are responsible for leading the marketing efforts for a product, service, or business. They evaluate the market demand and lead the marketing team to develop and implement unique and creative strategies for driving customer interest through multiple media channels.
A marketing manager’s scope of work includes:
- Designing, executing, and evaluating marketing campaigns
- Collaborating with creative and advertising departments
- Performing market research to find new opportunities
- Managing marketing team
- Analyzing market trends and conducting competitor research
- Developing product or service pricing strategy
There are many more roles and responsibilities of a marketing manager which we would be discussing in detail further in the article.
As marketing managers formulate and track the trajectory of all marketing strategies of an organisation from the front row, they have more responsibilities and a great paycheck.
Marketing Manager’s Salary in India
The average salary of a Marketing Manager in India is ₹ 6,85,464. However, it may vary with the job role and years of experience. (Source)
For example, with experience of over 10 years, marketing managers can earn an average base salary of ₹ 9,56,988.
Now, let us walk you through the average salary of marketing managers across different job roles.
- Monetisation Manager
Monetisation managers are responsible for increasing the overall revenue of the companies by identifying the areas where revenue can be increased, and the cost can be reduced.
Average Base Salary – ₹ 7,35,450/year (Source)
- Email Marketing Manager
Email marketing managers specialize in running marketing campaigns over emails and assessing their success.
Average Base Salary – ₹ 7,41,000/year (Source)
- Social Media Manager
Social media managers are responsible for maintaining all the social media handles for the organization.
Average Base Salary – ₹ 3,24,828 /year (Source)
- Advertising Manager
Advertising Managers support the advertisement in the non-digital media, like magazines, newspapers, and electronic media like radio, TV, etc.
Average Base Salary – ₹ 4,88,730 /year (Source)
- Product Manager
Product managers specialize in a specific product’s end-to-end lifecycle. They are responsible for overseeing the overall development of the product and its marketing.
Average Base Salary – ₹ 7,68,832 /year (Source)
We’ve listed just a few of the many positions a marketing professional can pursue. You can explore more and choose one base based on your area of interest.
Roles and Responsibilities of a Marketing Manager
In this digital age, a marketing manager’s roles and responsibilities are indefinite. They need skills that go beyond organizing and management. They need to be creative and out-of-the-box thinking marketing managers who can engage and enthral the target customers with their peculiar marketing strategies. Moreover, to be successful in the current times, one must possess skills like communication, a positive-thinking attitude, creativity, intuition, and more.
If you possess the above-mentioned skills, you must be a potential candidate to become a successful manager. Even if you don’t, you can always pursue a marketing course to hone your skills. However, before applying for your dream job, learn about the roles and responsibilities of a marketing manager.
Increasing sales
The right marketing strategy increases the sales and profit of a brand or business, and who better than a marketing manager can implement a successful plan? So, increasing the company’s sales is the foremost and most important responsibility of a marketing manager. For this, a manager uses different marketing strategies.
Product development
Firms expect managers to be creative and skilful personnel who can lead the product development phase. A bachelor’s and/or master’s degree in marketing prepares them for it. Moreover, special marketing certification courses offer a deep insight into product development and other processes related to it. These certificate courses also equip marketing managers with different methods and techniques to successfully develop a product that drives sales.
Branding
Branding is another important role that a marketing manager has to perform. This business function includes promoting a company’s products or services globally. Marketing managers are supposed to ideate and execute brand promotions and soft launches of new products of the brand creatively without a hassle. A successful branding strategy helps in expanding the business volume and equity. It also instils customers’ trust in the brand, which germs into brand loyalty in the long run.
Market research and formulating strategies
Market research is the first step of product development and indeed an important one, especially because it involves interacting with the potential market and customers. Marketing managers spearhead the market research function and make sure that it is completed successfully. Later, they also participate in formulating marketing strategies based on the inferences drawn from market research.
Creativity and innovation
In the current times, when there is a burst of new talents trying to captivate the market with innovative ideas and strategies, a marketing manager must be capable of formulating novel creative and innovative plans for promotions.
Re-learning and closely observing the market would help in doing the same. Marketing managers should be innovators who have a keen eye for potential trends. A successful marketing manager can help in establishing competitive advances for the business. They are also capable of devising peculiar marketing strategies that attract more customers but do not fall short of innovation or creativity.
To stay in the current marketing milieu, aspiring marketing managers must be creative, responsible, and skilled at their job. So, what’s better than pursuing a marketing certification course to upskill yourself? A certification course would prepare you for the future roadblock and equip you with the skills that will make you an inevitable part of an organization.
Several marketing certification courses delve deep into different concepts like what is marketing, marketing strategies, the roles, and responsibilities of marketing managers, how to drive sales, how to formulate successful marketing strategies, etc.
For the unversed, Emeritus India offers certificates and short-term courses for working professionals looking to specialize in an area of their interest. We offer several courses in sales, marketing, product management, project management and other domains. We have partnered with many national and international universities to offer world-class education to all working professionals.
If you want to progress in your career in a short span of time, explore Emeritus’s certification courses that will place you right with the industry’s legends.
