Marketing is more than just advertising or sales. As the Encyclopedia of Business states, "marketing pertains to the interactive process that requires developing, pricing, placing, and promoting goods, ideas, or services in order to facilitate exchanges between customers and sellers to satisfy the needs and wants of consumers." The ultimate goal of marketing is to match a company's products/services to the people who need and want them, thus ensuring profitability for that company.
Marketing Managers develop the firm's detailed marketing strategy. With the help of such subordinates as product development managers and market research analysts, they determine the demand for products and services that the firm offers, and identify potential customers. Marketing Managers create pricing strategy to help their firm maximize its profits and market share, as well as ensure that customers are satisfied. Working with other departments, they monitor trends indicating need for new products/services and oversee product development, as well as create budgets, evaluate expenditures, and direct research on development appropriations and profit-loss projections. Further, Marketing Managers work with advertising and promotion managers to support the firm's products/services in the marketplace. They usually are tasked with negotiating contracts with vendors and distributors (to manage product distribution), establishing distribution networks and strategies.
In addition, Marketing Managers within the oil and gas industries must have a broad knowledge of the dynamics and contractual practices of the international crude, product, and oil freight markets. They are responsible for the strategic, business, and operational planning, project appraisal and performance analysis relating to the refining, supply and distribution, and marketing of petroleum products. As such, they must be conversant with methods of domestic product distribution and marketing to both wholesale and retail
accounts and outlets. Their company's market may be both the upstream part of the business and the downstream component. They may be required to help establish local marketing operations as well as evaluate personnel and implement performance-monitoring processes. Marketing Managers with oil and gas companies who deal internationally may also be accountable for the coordination of all the marketing activities with the global divisions of their company. As such, they will have to evaluate energy markets, infrastructure, the regulatory environment, competitors, and potential new business opportunities as governed by the laws, practices, regulations and restrictions (such as tariffs, quotas, embargoes, and exchange controls), and the economic and industrial environments of each country involved.
Market Research Analysts research market conditions in local, regional, national, or international areas to determine potential sales of their company's products/services. They establish the research methodology used, and design the format for data gathering. They analyze statistical data to predict future sales and marketing trends. They gather data on competitors' methods of doing business. They collect information on customer needs, preferences, and buying habits. From all their statistical data, they prepare reports and graphic illustrations that will be used to aid the company's management in guaranteeing their firm's success.
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