While there is no set path to become a brand manager at a Fortune 500 company, there are definite career, academic and personal choices that should be made in order to increase marketability and competitiveness.
Take the Right Risks
Simply put, brand managers need to fail fast and early on in their careers to become better, more experienced leaders. Brand managers who want to work at Fortune 500 companies cannot maintain rigid lifestyles with conservative employment choices. Instead, they need to take risks and experiment so they can accumulate industry insight and experiential knowledge. This will be daunting because it’s difficult to change jobs, accept difficult projects and take major risks. However, these brand managers will quickly learn the tools and techniques necessary to revitalize projects and successfully accomplish goals. It is highly recommended that brand managers find mentors and industry experts who can help them make sensibly strategic career decisions.
Get the Right Education
While there are no official rules that dictate that brand managers must have attended a prestigious college, almost all have at least a master’s degree. Bear in mind that very few managers make it to the top of the corporate ladder without a formal education. Popular self-made CEOs, like Bill Gates and Michael Dell, are extremely rare. A degree from a well-recognized university does establish credibility and increase competitiveness. Having a formal education is important because college courses expose students to different ideas, disciplines and experiences. Fortunately, brand managers can select among different business degrees, such as finance, marketing (please see: The Top 10 Best Online MBA in Marketing Degree Programs), advertising and management. The Bureau of Labor Statistics recommends that brand managers take law, statistics and computer science classes. Technology classes are important because the field of brand management is transitioning from traditional media channels to digital channels, such as social media and mobile technologies.
Perfect the Right Personality
Brand managers share certain traits that degrees from top-notch schools cannot create, but only perfect. Brand managers must be excellent communicators with the interpersonal skills needed to persuade and negotiate. Brand managers are typically assertive extroverts who enjoy creativity and collaboration. They excel at developing and presenting cohesive visions for companies through strategic planning. This means that they must have poise and charisma as well as innovative foresight into future business models, trends and opportunities. Brand managers must have strong attention to detail and analytical skills in order to maintain the appeal and competitiveness of their brand.
Get the Right Employment Experience
Most brand managers start out working in sales, marketing, promotional or advertising departments. Typical job titles include sales rep, purchasing agent and PR specialist. Anyone who wants to become a brand manager for a major company must have extensive industry experience and a working knowledge of current risks, trends and opportunities. Previous experience as a senior-level manager responsible for overseeing multi-million dollar budgets and thousands of employees is a must. It is highly recommended that brand managers work their way up through the ranks so they will be intimately familiar with the company, competitors and the business landscape.
In order to become a brand manager at a Fortune 500 company, individuals must make the right career, personal and academic choices.
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