Marketing Jobs in Energy and IT Sector - Essay Example

?running head: Business Placement Business Placement Career Research Report Submitted [Pick the Contents 0 Introduction 3 2.0 Energy Sector in United States 4 2.1 Devon Energy Company 5 2.2 Marketing Jobs in Energy Sector- Advertising & Public Relations 6 2.3 Personal Reflection 7 3.0 FMCG Industry Overview 8 3.1 3M Company 10 3.2 Career Path in FMCG Marketing 11 3.3 Personal Reflection 12 4.0 IT Sector in United States 13 4.1 Google Inc. 14 4.2 Marketing Career Path in IT Sector 15 4.3 Personal Reflection 16 References 18 1.0 Introduction Thousands of fresh graduates are stepping out of universities and business schools annually, to find their place in the corporate world. In order to find better career prospects and learning opportunities, it is important to be certain of one’s career choices and prospective employers. For the purpose of this assignment, the fields selected are energy, FMCG and Information Technology. The reason for selecting FMCG and energy is their extensive nature and opportunities of having employments on global scale. There are many companies in these sectors that are operating on global scale e.g. Nestle, Unilever, P&G, 3M, Philip Moris, British American Tobacco, Colgate-Palmolive, Kellog etc. On the other hand, companies operating in these industries at small and medium level are also using e-commerce and other techniques to expand their operations beyond borders through imports and exports. If American industry is explored alone, the market is quite extensive and there is still a room for new entrants to exploit opportunities offered by this industry. My third choice would be IT sector. The reason for selecting IT industry is its robust and highly creative nature. Everyday new applications and products are coming into market and there is a never-ending need for innovative products and services. In order to understand dynamics of each industry, it is important to explore how they operate individually, what kind of career prospects and remuneration they offer along with skills required by each of them. For this purpose, an extensive industry analysis is performed with reference to FMCG, energy and IT sector in United States. This analysis will further help in analyzing career opportunities available in respective fields of employment. The research regarding best employers was performed with the help of various online sources and periodicals such as business insiders, Forbes, CNN Money. With the help of this research, it was found that Google Inc was one of the best employers which not only provided better and growing career prospects but also a suitable working environment as well. Since work environment is one of the most important factor affecting employees’ satisfaction and their retention with their employers, therefore Google Inc would be my future prospective employer from IT sector (CNN Money, 2013). Another top employer is 3M from FMCG sector. Lastly, Devon Energy company would be a preferred employer from energy sector. 2.0 Energy Sector in United States The United States is named as the market leader when it comes to global energy sector. Similarly, with increase in commercial and domestic consumers, it is also the biggest user of energy resources. The industry itself has various kinds of sub-fields such as renewable energy and fuel, oil and gas, coal and nuclear energy, industrial energy efficiency, smart grid etc. The energy sector of United States alone contributes $ 6billion in global energy market (SelectUSA-Energy, 2013). The employers in this field mainly perform integrated process, exploration and production, refining, marketing, pipeline, marine businesses, and service and supply. According to American Petroleum Institute (2013), “ The industry also supports 9.2 million U.S. jobs and 7.3 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.” Considering the nature of the industry and respective employers, it can be said that this industry offers more jobs to those with technical education i.e. engineering in different disciplines. However, for further business development and branding, marketing activities appear inevitable. Similarly, supply chain and installation processes also offer significant number of employments in this sector. Cursory analysis of average remuneration offered by jobs indicated that this sector offers better salary and benefits than any other industry in US. The average salary is expected to be over USD 100, 000 annually according to Gallup’s CEO James Clifton (Kotkin, 2011). This package is relatively higher than those in other sectors i.e. education, IT, healthcare and entertainment. However, it is evident that this is an average rate and remuneration are expected to be considerably lower in junior and non-technical positions. However, an important aspect regarding this sector is its exponential growth and ability to create over 1 million jobs till 2025 (API, 2013). 2.1 Devon Energy Company Devon has been included in Fortune 500 companies, 100 Companies to work for and couple of times. With over 5200 employees, employees' reviews show very high rates of satisfaction (93%); high rates of relaxation (43%) and meaningfulness (69%); and average rates of flexibility (70%) (Giang, Stanger & Lubin, 2013). Being a leading name in natural gas and oil producers in United States, it is also known as a trend setter for this industry. The organizational structure appears to be highly hierarchical due to its extensive operations. The mission statement states, “Devon is a results-oriented oil and gas company that builds value for shareholders through our employees by creating a culture of health, safety and environmental stewardship in an atmosphere of optimism, teamwork, creativity and resourcefulness and by dealing with everyone in an open and ethical manner.” Review of mission statement, company’s values and reviews of employees’ reviews on various websites helped in understanding that the company offers more prospects for engineers and technical staff. However, to begin with, Devon can be a suitable employer due to its strong branding and opportunity for further growth. It’s highly result-oriented, demanding and robust environment can be a suitable workforce for those beginning their career as it allows one to work under pressure and in challenging situations with pressing requirements and deadlines. It was also found that compensation and other rewards are quite appealing e.g. median pay at middle level being $77,000, $ 3000 for employee referrals etc, alternate work schedule on Fridays, paid leaves etc (CNN Money, 2011). It’s headquarter is based in Oklahoma whereas it has its operations extended across United States and other foreign countries. Some of its subsidiaries (Candian and Non-Canadian) are BN Coal LLC, Donald Anderson Ltd, Ocean Energy Inc, Pennzenergy Exp & Pro LLC, Santa Fe Snyder Corp, Seagull Energy E&P Inc, Alta Energy Corp, Texoil Intl Corp, Devon Financing and several others (EWG, 2013). 2.2 Marketing Jobs in Energy Sector- Advertising & Public Relations In energy sector, there is comparatively a limited scope of traditional brand and category management. Instead, marketing functions have transformed into marketing advisory, analysis, marketing implementation, marketing coordination, project management, campaign management and customer relationships. Most of these functions fall in the category of advertising, PR and customer relationship management. In a traditional sense, usual career paths in advertising related to different industries begins with account executive and then moves onto media planning, accounts management, media buying (W&M, 2013). These roles involve developing strong relationship with clients, providing them with customized solutions, managing their advertising campaign and also buying important and prime time slots for these ads. Hence, the whole campaign strategy rests with these accounts managers and media buyers. An advertising manager is expected to have various skills which include media management, budgeting, creativity, ability to work with designers, copy writers and creative team, good interpersonal and communication, project management skills, time management, attention to details, flexibility, decision making, knowledge of the product being handled and marketed, problem solving, persuasion and ability to understand customers’ demographics and targeted segments. The median pay till 2010 was $83, 890 with only 216, 000 jobs at entry level whereas the expected rate of growth is 14 percent per annum (bls., 2013b). Another important field in marketing in energy sector can be public relations. The entry-level position in this field is known as PR assistant whereas some other recruiters may call it management trainee as well. After considerable experience comes the next level of assistant PR manager or PR manager who is responsible for handling corporate clients. Other positions in this career path involve PR specialist, Senior PR manager, PR Executive, Director/ VP (W&M, 2013). Core functions in this field include handling media, community relationship building, consumers, industry dynamics, government relations, political campaigns, interest-group representation, conflict mediation, and employee and investor relations (William & Mary, 2013). This particular field requires at least graduation in Marketing, PR and media management. Along with exceptional interpersonal and communication skills, a PR manager is expected to have an impeccable ability to understand media and targeted audience, familiarity with publishing tools, problem solving, web analytics, and ability to handle different media. An average pay in PR management is $57, 550 (bls, 2013b). Currently, there are only 320, 000 jobs all across U.S. However, till 2010, the industry is expected to show growth by 21% (Bls., 2013b). 2.3 Personal Reflection During industry and fields’ analysis, advertising and PR management appeared to be highly creative and dynamic fields offering great opportunities for personal and professional development. My intent is to grow exponentially and develop a skills inventory that would not only bring personal satisfaction but also makes me a top choice of future employers mainly market leaders. Creativity, ability to multi-task, attention to details, critical eye for designs, ability to communicate and handle big teams and multiple departments are some of my personal traits that made me chose these fields. However, higher pressure and long working hours may not be suitable for me. I do believe that at entry level, I may need to put in extra time in professional development and learning. Furthermore, ability to work under pressure and with pressing deadlines is required by all kind of jobs. Therefore, I need to build these skills in order to pursue my career in these fields. Also, attributes like media management, learning publishing tools and web analytics appear to be really interesting aspects of these fields. Therefore, I would really like to learn more about these skills. I have also come across various consulting companies and firms in these two fields. Having a neck for entrepreneurship, I would also like to learn and grow professionally and have an option open for my own personal venture in the field of advertising and PR management. 3.0 FMCG Industry Overview FMCG stands for Fast Moving Consumer Goods. The industry is highly extensive in nature as it includes many products that are under the use of millions of consumers everyday only in United States. The products that this industry offers ranges from appliances, toys, furniture and home furnishings, recreational boats, recreational vehicles (RVs), motorcycles, games, gifts, greeting cards, school and office products, jewelry, sporting goods, musical instruments, personal care and processed foods and beverages (SelectUSA-Consumer, 2013). It is important to note that all these commodities are consumed at frequent and regular intervals therefore it provides a major opportunity of growth and development not only to established brand names but also to small and medium enterprises. Considering the wide-ranging nature of this industry and its global expansion due to effective supply chain mechanism, ability of manufacturers to form strategic alliances across the border and effective marketing strategies, this industry has huge career opportunities to offer to fresh business graduates. Presence of market leaders like Unilever and P&G makes this sector highly attractive for a prospective career growth. The jobs included in this industry are mainly found in branding and marketing, manufacturing, supply chain and distribution, procurement, HR and administration. There are various peripheral fields that emerge out of these main branches. A critical analysis of this industry and its dynamics illustrate that there are good employment opportunities available in this industry due to continuous innovation and product development. Furthermore, due to emergence of new brands, there are higher prospects of personal and professional growth in this industry. Furthermore, due to change in population dynamics and change in population, the industry is expected to show steady growth in coming years. Only in 2011, the contribution of this industry in United States’ GDP was $432 billion (Select USA-Consumer Goods, 2013). Various web-based salary calculators indicated that an average salary in FMCG sector is $ 57, 500 (Totaljobs, 2013). The starting salary for graduates is expected to be $ 27000-40,000 annually (after converting into US dollar from UK pound) (Graduate Remuneration Bureau, 2013). However, it is important to note that the industry is highly volatile due to low durability and lesser product life. Secondly, the regional inflation rates also have an impact on the salaries of this industry. Due to relatively steady rate of dollar, the salary increases in developed economies like US and UK are relatively low (HayGroup, 2012). 3.1 3M Company 3M is considered as a leading name in fortune 500 companies. According to their website, they serve various market segments such as graphics, safety and security, office accessories, electronics and communication, healthcare, home and leisure, transportation (Aerospace, automotive), manufacturing industries. In these market segments, 3M has managed to provide hundreds of products that serve the needs of domestic consumers as well as commercial buyers (3M Solutions, 2013). The history of this organization is rather interesting and begins with a disappointing story. Their first venture as a company failed due to faulty investigation. However, with the help of their innovative approach and resilience, the founders turned a reservoir of low-quality abrasive mineral (required for wheel grinding) into high quality sand paper. Since then, the company has presented many unconventional products that have made this conglomerate one of the market leaders in global FMCG sector. Their customer base includes everyone-from a house wife needing cleaning products, a student needing post-it notes to technical consumers requiring optical films. Analysis of 3M’s business strategy helped in understanding the principles underlying behind innovation being the main regime. It was found that 3M has a culture of diversity and innovation organization wide which means involvement of everyone from senior managers to operational workforce. Secondly, the workforce is continuously fueled with fresh talent that brings in new ideas and creativity. Broad base of technology, employee networking within organization and industry, exceptional perks and benefits to key achievers, quantifying efforts and customer-oriented approach act as the cornerstones of its culture (Arndt, 2006; Jaruzleski, Holman & Baker, 2011). The company currently employs around 84, 000 employees with over 22000 patents and 60 subsidiaries worldwide (Business Insider, 2013, 3M solutions, 2013). Giving the size of this entity along with its ability and focus on brining out new products, the company provides good opportunities to fresh marketing graduates. From branding to trade marketing, there is a huge variety and potential of career progression in this discipline with 3M. 3.2 Career Path in FMCG Marketing FMCG sector provides suitable career paths in brand/ product management. A traditional career path begins from marketing analyst position which in some companies also known as management trainee position. There are few other titles such as brand assistant, assistant brand manager, pricing analyst, new product analyst and consumer product management analyst. The career path becomes lengthier with bigger organizational structure where brand operations are present in different regions (W&M, 2013). In usual circumstances, these entry level jobs include performing market analysis, gathering benchmark details related to performance of competitions. Other than that, assisting senior managers in their respective jobs is also included at this level. After marketing analysts, next stage is either assistant brand manager or brand manager depending on the size and structure of the organization. Brand manager is basically the sole controller of a particular product and is responsible for all the marketing activities related to that product or product line. In relation to all these activities, they are also responsible for research and development and profit/ loss management (MacDaniel, 1998). The size of the team headed by brand manager depends on the size of product and its related revenues. Sometimes after gaining suitable experience of single brand management, brand managers are moved onto category management which entails handling various products under one product line such as personal care, home care etc. Category managers are also known as group managers in certain organizations. Sometimes the organizations offer regional brand manager positions instead of category manager. These managers are responsible for managing product line and its profitability in a particular graphical location. The median pay till 2010 was $108, 260 with only 216, 000 jobs along with advertising and promotion at entry level however the expected rate of growth is 14 percent per annum (Bls., 2013b). Sometimes brand managers also switch to trade marketing, advertising & PR and accounts management. However, it is suitable that if a switch from one marketing position to another is intended, it should be performed in the beginning of the career. Usually, marketing graduates and MBAs are recruited in these fields. Organizations in FMCG sector tend to hire management trainees that they have recruited through campus or fresh graduates’ recruitment processes. A brand manager is expected to have various skills such as innovative and strategic thinking, creativity, analytical skills, ability to analyze consumers research, multi-tasking, team leading, managing different projects simultaneously, good interpersonal and communication skills, decision making, general management, technical skills, conflict management and delegation of authority (Haas, McGurk & Mihas, 2010, Daye, 2010) . 3.3 Personal Reflection Careful analysis of this industry and the jobs that I am interested in helped me in understanding mechanism of FMCG sector. The industry is robust and dynamic with consumer being the ultimate powerful entity due to extensive competition globally. I found out that FMCG industry itself is highly diverse and huge in volume. Therefore, opportunities of better career progression are available. Branding is one of those professions that offer complete authority along with huge accountability. So, this would be my preferred profession in near future. However, there are quite a few skills that require homework on my part. I need to develop more analytical and strategic thinking skills along with ability to work under pressure. However, I am creative, have headed quite a few projects, better time manager and able to work with big teams. So, I believe that this would be a right choice for me in terms of career prospects. 4.0 IT Sector in United States The IT sector itself comprises of two types of companies with extensive diversity in their operations. Some of the companies in IT sector produce their own technology and use it as their own product, whereas others produce softwares that can be outsourced or recruit professionals that can be outsourced on third party payroll. The industry, in terms of products and types of technology used is highly diverse. Ranging from ERPs to mobile applications, this industry caters to every other sector. Now, all the other industries are thriving on the basis of competitive edge provided to them by information technology. IT products made in USA have a higher global standing and there are various names in US IT industry that can be named as market leaders i.e. Apple, Oracle, IBM etc. Although the industry itself offers more employment to those with business analysis and software development skills which are rather technical in nature however functions like HR, marketing, administration and procurement do exist. According to Brightwater (2013), the IT industry has been showing comparatively slow growth with same rate of increases in remuneration. The expected salary of a fresh graduate in IT sector is expected to be maximum at $28, 000 which is comparatively low due to excessive competition from IT industry of other developing countries (Salary Explorer, 2013). However, IT companies appear to demonstrate creativity, innovation and dynamic approach which usually appeals to fresh graduates. Current employment in information sector in USA is equivalent to 2691, 000 whereas it is expected to show a growth of around 300, 000 heads (bls, 2013a). 4.1 Google Inc. With its headquarters in California, the company’s name resonates with energy, innovation and dynamic work environment. The founders of this company are relatively young individuals with the name Larry Page and Sergery Brin. Founded only 15 years back, the company has millions of users worldwide and extensive product range on its portfolio. Currently, Google is located in 40 countries with more than 70 offices globally (Baker, 2007; Google, 2013c). It was found that the organizational structure of this company is relatively traditional with a board of directors and other departments in place. However, it is the organizational culture that makes it different than other employers. The workforce is allowed to have frequent interaction with leadership and senior management and share their ideas rather openly. High independence and accountability with low supervision is the key behind high satisfaction of employees at Google. Although initially Google began with small packages however the benefits and perks offered by it became its major strength. The company has more than 120 subsidiaries worldwide. Most of these are a result of acquisition performed over last few years (Yahoo, 2013; Baker, 2007). According to statement given on their homepage, “Google’s mission is to organize the world’s information and make it universally accessible and useful.” The same notion behind this mission is also reflected in their organizational principles as well. As far as its products and services are concerned, Google has made its name synonymous to its easy access of information. From speedy search engine services to Android applications, email services, VoIP, Google Chrome browser and Google Ads, they provide all kind of solutions when it comes to internet usage. Other than advertising services, they also provide computing tools for upcoming businesses. Google Ad words, Google Apps and website optimization represent an umbrella of different services for domestic users and businesses. With total workforce ranging up to 30, 000, the employees’ review included very high rates of satisfaction (81%); high rates of relaxation (44%), meaningfulness (61%), and flexibility (81%) (Giang, Stanger & Lubin, 2013). Careful analysis of reviews available on web and Google’s official website indicated that the company provides highly creative and comfortable work environment with offices and cafes designed to encourage interaction organization wide. It can be said that with increase in other businesses, the need for Google’s products is expected to increase in coming years. The way this company is progressing right now, it has potential of offering a stable career with promising professional development to fresh management graduates. 4.2 Marketing Career Path in IT Sector In IT sector, most of the advertising and marketing is carried out through online tools. This is precisely the reason why role of marketing professionals changes in this industry. Analyzing jobs of Google and other IT firms helped me in understanding that most relevant positions for fresh business graduates belongs to sales accounts management and communication (Google, 2013b). Common career path in IT sales and accounts management begins with management trainee or junior accounts executive positions. These accounts executives are responsible for new business development and providing personalized solutions to their respective clients. Usual titles in this field include sales specialists, coordinators, strategists, executives and account managers (Google, 2013a). These sales accounts teams not only pitch pre-developed products to different clients but also work in close liaison with product and customer support teams to produce specialized and customized solutions (W&M, 2013). Sales accounting management require skills like exceptional interpersonal and communication, negotiation, time management, number crunching and statistical skills along with good time management skills and ability to work under pressure. Other skills include multi-tasking, ability to meet deadlines, creativity, motivational skills, analytical thinking, attention to details, good budgeting skills, understanding of client relations, diplomatic communication and most importantly, ability to hear no in response to business proposals. Sales generation and client management require exceptional ability to work under pressure therefore strong personality and confidence are pre-requisites of this field. According to Statistics provided by Bureau of Labor Statistics (2013b), current salary in this field is $ 98, 530 with 342, 100 jobs present in United States and growth rate of 14 percent/ annual. The usual career path begins with product marketing specialist. However, there is no visible career path in IT sector’s marketing. During research of jobs available at Google Inc., various titles were found that belonged to Sales and marketing management. These titles include communication manager, product marketing manager, web marketing manager, analyst and influencer marketing manager, head of B2C and B2B, manager of SEM and Biddable media, communication and public affair manager, Communications Manager, Editorial, Marketing Manager- Advertising Arts, Advertising Research Manager, consumer operations community manager. However, it was found that more marketing positions, sales, business development and client management are the positions opened for marketing professionals (Linkedin, 2013). During analysis, it was also found that traditional education required for these positions would be BA and BS. There are several senior positions available for MBAs however working experience appears to be mandatory for such positions. 4.3 Personal Reflection Sales accounts management can be my second choice after graduation. However, it is important to note that I am doing Majors in business and marketing therefore sales in not really my forte. However, sales accounts management also allows reasonable independence and creativity. There are quite a few factors that do not comply well with my personality such as extensive and lengthy working hours, high pressure regarding business generation, highly diplomatic communication skills. However, I am reasonably equipped with interpersonal and communication skills. Time management and number crunching are also few other skills that form part of my skills inventory. Secondly, this field offers a lot of learning opportunities due to extensive interaction with different teams i.e. product development, marketing, clientele, customers support etc. So, this may not be my priority but a suitable career prospect for future. References 3M Solutions. (2013). Market Segments, Retrieved from http://solutions.3m.com/wps/portal/3M/en_US/Products/ProdServ/ 3M Solutions. (2013). History, Retrieved from http://solutions.3m.com/wps/portal/3M/en_US/3M-Company/Information/Resources/History/ American Petroleum Institute. (2013). The State of American Energy, Retrieved from http://www.api.org/~/media/Files/Policy/SOAE-2013/SOAE-Report-2013.pdf Arndt, M. (2006). 3’M’s Seven Pillars of Innovation, Bloomsberg Business Week, Retrieved from http://www.businessweek.com/stories/2006-05-09/3ms-seven-pillars-of-innovation Baker, L. (2007). 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