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Master of Marketing Degree
One alternative to achieve this designation could be to attain a Master of Business Administration degree with a specialization in marketing. A marketing professional who wants to attain a senior position in marketing and wants to learn more about creating and delivering the overall marketing strategy to a firm is often attracted to a Master of Marketing degree program. In marketing there is what is often referred to as the "5 Ps of marketing" which are: Product: The product or service being offered to customers. Price: The pricing structure of the product or service which could include discounting, bulk pricing and of course pricing in relation to competitors. Positioning: How your product or service is positioned in the market, what makes it unique from other products and why it's beneficial to customers. Place: The distribution channels that will be used to distribute your product or service. Promotion: How you will communicate your marketing message regarding your product or service to customers.
There are variations of the 5 Ps of marketing that often include People, Packaging and other terms as well. Some people have come up with new versions to reflect changes in the global economy, Internet marketing, marketing to specific industries, etc. Among other things, a marketing manager could have a hand in implementing the 5 Ps of marketing for their company and specifically in terms of product research, product development, pricing, product distribution through channels, advertising and anything else that contributes to bringing a product to market. Plus, they can also be responsible for not only external introduction of the product to the market but also internal introduction of the product to company staff like salespeople, support staff, etc who will be selling, promoting and supporting the product or service once it's released.
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