Vice presidents (VP) of marketing are highly-placed executives or board-level directors within a company who are responsible for determining strategies to improve or maintain the market-shares for the goods or services sold. This involves setting strategies in many areas concerned with the presentation of company assets and products, from branding to advertising and even pricing and discount structures. The marketing VP will typically have a department dedicated to researching and providing useful analytical data on the effectiveness of current marketing, as well as ideas for future product development.
As a director-level executive, the VP of marketing typically sits on an executive board within the company, usually as a direct report to a division president, chief executive, or chief operating officer. These VPs directly supervise managers and directors who oversee teams involved in branding, advertising/media, and research, and often meet with these managers to receive reports and help direct the company's marketing vision. They also help these managers to set departmental and team budgets, as well as pull data related to expenses and marketing effectiveness and present it in detailed reports to other board members and company chiefs.
As marketing VPs, they can also be a factor in driving future product/service offerings. By carefully using market research tools, they can help determine the shifting needs and wants of the company's current consumer base and determine how to best meet that demand. This research can result in emphasizing existing products more, or working with research and development team leaders to bring new products to the market.
A typical marketing VP has extensive practical experience at all levels of marketing and branding, and candidates for the position should also have extensive education in marketing and business administration/management. Like most company vice presidents, a marketing VP should expect to work long hours in an office environment and will usually have an administrative staff to manage. Travel may also be part of the job.
Vice President (VP), Marketing Tasks
Use sales forecasting and strategic planning to ensure the sale of products or services.
Oversee staff operations, develop policies and business plans.
Develop pricing strategies to balance company objectives and customer satisfaction.
Plan, direct and set the strategic direction of marketing program for an organization.
Conduct market research and monitor market trends in order to remain competitive and meet overall objectives.