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Become A Business Development/Product Manager

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Working As A Business Development/Product Manager

  • Communicating with Supervisors, Peers, or Subordinates
  • Establishing and Maintaining Interpersonal Relationships
  • Interacting With Computers
  • Organizing, Planning, and Prioritizing Work
  • Making Decisions and Solving Problems
  • Mostly Sitting

  • Stressful

  • $116,000

    Average Salary

What Does A Business Development/Product Manager Do

Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members.

Duties

Advertising, promotions, and marketing managers typically do the following:

  • Work with department heads or staff to discuss topics such as budgets and contracts, marketing plans, and the selection of advertising media
  • Plan promotional campaigns such as contests, coupons, or giveaways
  • Plan advertising campaigns, including which media to advertise in, such as radio, television, print, online media, and billboards
  • Negotiate advertising contracts
  • Evaluate the look and feel of websites used in campaigns or layouts, which are sketches or plans for an advertisement
  • Initiate market research studies and analyze their findings to understand customer and market opportunities for businesses
  • Develop pricing strategies for products or services marketed to the target customers of a firm
  • Meet with clients to provide marketing or technical advice
  • Direct the hiring of advertising, promotions, and marketing staff and oversee their daily activities

Advertising managers create interest among potential buyers of a product or service. They do this for a department, for an entire organization, or on a project basis (referred to as an account). Advertising managers work in advertising agencies that put together advertising campaigns for clients, in media firms that sell advertising space or time, and in organizations that advertise heavily.

Advertising managers work with sales staff and others to generate ideas for an advertising campaign. They oversee the staff that develops the advertising. They work with the finance department to prepare a budget and cost estimates for the campaign.

Often, advertising managers serve as liaisons between the client and the advertising or promotion agency that develops and places the ads. In larger organizations with extensive advertising departments, different advertising managers may oversee in-house accounts and creative and media services departments.

In addition, some advertising managers specialize in a particular field or type of advertising. For example, media directors determine the way in which an advertising campaign reaches customers. They can use any or all of various media, including radio, television, newspapers, magazines, the Internet, and outdoor signs. 

Advertising managers known as account executives manage clients’ accounts, but they are not responsible for developing or supervising the creation or presentation of advertising. That task becomes the work of the creative services department.

Promotions managers direct programs that combine advertising with purchasing incentives to increase sales. Often, the programs use direct mail, inserts in newspapers, Internet advertisements, in-store displays, product endorsements, or special events to target customers. Purchasing incentives may include discounts, samples, gifts, rebates, coupons, sweepstakes, or contests.

Marketing managers estimate the demand for products and services that an organization and its competitors offer. They identify potential markets for the organization’s products.

Marketing managers also develop pricing strategies to help organizations maximize their profits and market share while ensuring that the organizations’ customers are satisfied. They work with sales, public relations, and product development staff.

For example, a marketing manager may monitor trends that indicate the need for a new product or service. Then he or she oversees the development of that product or service. For more information on sales or public relations, see the profiles on sales managers, public relations and fundraising managers, public relations specialists, and market research analysts.

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How To Become A Business Development/Product Manager

A bachelor’s degree is required for most advertising, promotions, and marketing management positions. These managers typically have work experience in advertising, marketing, promotions, or sales.

Education

A bachelor’s degree is required for most advertising, promotions, and marketing management positions. For advertising management positions, some employers prefer a bachelor’s degree in advertising or journalism. A relevant course of study might include classes in marketing, consumer behavior, market research, sales, communication methods and technology, visual arts, art history, and photography.

Most marketing managers need a bachelor’s degree. Courses in business law, management, economics, finance, computer science, mathematics, and statistics are advantageous. For example, courses in computer science are helpful in developing an approach to maximize online traffic, by utilizing online search results, because maximizing such traffic is critical for digital advertisements and promotions. In addition, completing an internship while in school can be useful.

Work Experience in a Related Occupation

Advertising, promotional, and marketing managers typically have work experience in advertising, marketing, promotions, or sales. For example, many managers are former sales representatives; buyers or purchasing agents; or public relations specialists.

Important Qualities

Analytical skills. Advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization. 

Communication skills. Managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process. They must also be able to communicate persuasively with the public.

Creativity. Advertising, promotions, and marketing managers must be able to generate new and imaginative ideas.

Decisionmaking skills. Managers often must choose between competing advertising and marketing strategies put forward by staff.

Interpersonal skills. These managers must deal with a range of people in different roles, both inside and outside the organization.

Organizational skills. Advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members.

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Help others decide if this is a good career for them

Average Length of Employment
Product Manager 3.3 years
Top Careers Before Business Development/Product Manager
Owner 4.0%
Consultant 2.9%
Top Careers After Business Development/Product Manager
Consultant 6.7%
Manager 4.0%
Owner 3.0%
Director 3.0%

Do you work as a Business Development/Product Manager?

Business Development/Product Manager Demographics

Gender

Male

70.8%

Female

21.4%

Unknown

7.8%
Ethnicity

White

57.8%

Hispanic or Latino

15.9%

Asian

13.0%

Black or African American

9.8%

Unknown

3.5%
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Foreign Languages Spoken

Spanish

34.8%

French

14.5%

Mandarin

11.6%

Portuguese

8.7%

Chinese

7.2%

German

2.9%

Cantonese

2.9%

Carrier

2.9%

Korean

2.9%

Italian

2.9%

Swedish

1.4%

Vietnamese

1.4%

Romanian

1.4%

Japanese

1.4%

Catalan

1.4%

Hindi

1.4%
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Business Development/Product Manager Education

Schools

University of Phoenix

9.9%

Arizona State University

8.1%

Boston University

6.3%

George Washington University

5.4%

University of Houston

5.4%

University of Cincinnati

5.4%

University of Chicago

5.4%

Lake Forest Graduate School of Management

4.5%

DePaul University

4.5%

Santa Clara University

4.5%

University of Southern California

4.5%

Purdue University

4.5%

University of California - Irvine

4.5%

Northwestern University

4.5%

Pepperdine University

4.5%

University of Michigan - Ann Arbor

3.6%

Georgia Institute of Technology -

3.6%

New York University

3.6%

Brandeis University

3.6%

San Diego State University

3.6%
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Majors

Business

34.3%

Marketing

13.8%

Finance

9.0%

Management

7.0%

Electrical Engineering

6.3%

Mechanical Engineering

4.4%

Computer Science

3.7%

Economics

2.6%

Political Science

2.2%

Project Management

2.0%

Psychology

2.0%

Chemical Engineering

2.0%

Engineering

1.7%

International Business

1.5%

Biology

1.5%

Chemistry

1.3%

Communication

1.3%

Small Business Management

1.3%

Culinary Arts

1.1%

Business Economics

1.1%
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Degrees

Masters

40.8%

Bachelors

40.8%

Other

11.0%

Associate

2.5%

Doctorate

2.3%

Certificate

2.0%

Diploma

0.5%

License

0.2%
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Job type you want
Full Time
Part Time
Internship
Temporary
Average Yearly Salary
$116,000
View Detailed Salary Report
$77,000
Min 10%
$116,000
Median 50%
$116,000
Median 50%
$116,000
Median 50%
$116,000
Median 50%
$116,000
Median 50%
$116,000
Median 50%
$116,000
Median 50%
$173,000
Max 90%
Best Paying Company
Amazon
Highest Paying City
San Francisco, CA
Highest Paying State
Utah
Avg Experience Level
3.5 years
How much does a Business Development/Product Manager make at top companies?
The national average salary for a Business Development/Product Manager in the United States is $116,303 per year or $56 per hour. Those in the bottom 10 percent make under $78,000 a year, and the top 10 percent make over $173,000.

Real Business Development/Product Manager Salaries

Job Title Company Location Start Date Salary
Manager, Business Development-Basix Product Zestfinance, Inc. Los Angeles, CA Aug 24, 2016 $130,000
Manager, Business and Product Development The Switch Controls and Converters, Inc. Hudson, NH Oct 01, 2011 $127,700
Product Line/Business Development Manager Trapeze Networks, Inc. Pleasanton, CA Jan 19, 2010 $122,000
Product Manager, Business Development Apple Inc. Cupertino, CA Oct 01, 2011 $115,000
Product Manager/Business Development Manager Ferrotec (USA) Corporation San Jose, CA Sep 26, 2011 $114,365
Manager Business Intelligence Product Development Scioinspire Corporation West Hartford, CT Sep 18, 2016 $110,000
Business Development and Product Manager Nanosolar, Inc. San Jose, CA Sep 08, 2010 $110,000
Product Manager/Business Development Manager Ferrotec (USA) Corporation Bedford, NH Jan 03, 2011 $97,400
Manager, Product and Business Development Moneyhill, LLC Hoffman Estates, IL Jan 18, 2016 $97,200
Product and Business Development Manager Juslink USA Inc. New York, NY Sep 28, 2010 $90,000
New Business Development Manager-Axial and Marine Products Comefri U.S.A., Inc. Hopkinsville, KY Sep 26, 2015 $82,618 -
$100,000
Product & Business Development Manager Electronic Sign Supply, Corp. Hialeah, FL Oct 01, 2010 $72,000

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Top Skills for A Business Development/Product Manager

  1. New Product Development
  2. Business Development
  3. Sales Strategies
You can check out examples of real life uses of top skills on resumes here:
  • Performed cost benefit analysis associated with new product development and product enhancements.
  • Managed business development activities to acquire new Chemical Management Programs within major Automotive customers in North America.
  • Leverage technical and industry-specific knowledge to develop strategic business development plans, sales strategies and initiatives.
  • Created annuity renewal retention data base securing monthly and annual revenue growth.
  • Managed new product /business development and profitability of high-speed data communications product line generating $750 million in annual revenues.

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Top 10 Best States for Business Development/Product Managers

  1. New York
  2. Colorado
  3. Virginia
  4. Rhode Island
  5. New Jersey
  6. California
  7. Washington
  8. District of Columbia
  9. Pennsylvania
  10. Delaware
  • (2,801 jobs)
  • (1,046 jobs)
  • (1,514 jobs)
  • (180 jobs)
  • (1,210 jobs)
  • (8,570 jobs)
  • (2,158 jobs)
  • (340 jobs)
  • (1,244 jobs)
  • (83 jobs)

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