Executive Shortages in Marketing, IP

Posted on 7/21/2008 by Julia Dudnik Stern | Printable Version | Comments (0)



New research says executive-level marketing and intellectual-property skills are in short supply. Though the underlying causes for the shortage differ, market conditions are exacerbating recruitment problems.

Marketing and creative jobs, notoriously difficult to quantify in relation to impact on revenues, are typically the first to go when the economy heads south. At the same time, marketing and promotional activities spike, as consumers cut spending and companies have to work harder to retain market share. It is, therefore, not surprising that 70% of the 400 respondents to a recent Marketing Executives Networking Group survey said there was a shortage of qualified talent.

Some understaffed marketing departments are shifting employees from other business areas; others rely on consultants. The problem is most severe at the executive level: MENG found that many of the 400 members who responded to the survey could not find senior managers with sufficient expertise.

MENG attributes this partly to the dot-com bubble burst, which sent many young marketing employees packing in early 2000s. Now, they don't enough experience to rise to the level of chief marketing officer.

In addition, the longevity of a typical marketing executive is an average of 2.5 years at one company. MENG, which says it takes about half this time to understand a company or brand's positioning, concludes that employees don't give marketers enough time to learn the business. Many hire marketing executives to turn around a troubled company and promptly let go those who do not show immediate results.

Intellectual-property management is another recruitment headache. According to the World Intellectual Property Organization, there is an urgent need for further IP-management education programs at business, engineering and law-school levels.

Last weekend's WIPO IP-management conference gathered attendees from 18 countries. Typical of the current climate of business and education chasing technology, attending experts stressed that IP concepts, such as patents, trademarks, designs and copyright, need to be integrated into graduate educational programs in the areas of business strategy, marketing and finance.

Here, executive shortage is due to skyrocketing demand for executive-level candidates among all types of businesses. "Intellectual-property management is the need of the hour," said executive director of the WIPO Worldwide Academy Yo Takagi. Executives with years of hands-on field expertise command salaries many aren't willing to pay in today's economic climate, while IP education remains in its infancy. WIPO found that IP-oriented business-management programs are scarce and do not adequately equip students with the needed level of knowledge and skills.


Copyright © 2008 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

Comments

Be the first to comment below.

Post Comment

You must log in to post comments.

Stay Connected

Sign up to receive our FREE weekly email listing new stories posted.

Follow Us

Free Stuff

Stock Photo Pricing: The Future
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy ...
Read More
Future Of Stock Photography
If you’re a photographer that counts on the licensing of stock images to provide a portion of your annual income the following are a few stories you should read. In the past decade stock photography ...
Read More
Blockchain Stories
The opening session at this year’s CEPIC Congress in Berlin on May 30, 2018 is entitled “Can Blockchain be applied to the Photo Industry?” For those who would like to know more about the existing blo...
Read More
2017 Stories Worth Reviewing
The following are links to some 2017 and early 2018 stories that might be worth reviewing as we move into the new year.
Read More
Stories Related To Stock Photo Pricing
The following are links to stories that deal with stock photo pricing trends. Probably the biggest problem the industry has faced in recent years has been the steady decline in prices for the use of ...
Read More
Stock Photo Prices: The Future
This story is FREE. Feel free to pass it along to anyone interested in licensing their work as stock photography. On October 23rd at the DMLA 2017 Conference in New York there will be a panel discuss...
Read More
Important Stock Photo Industry Issues
Here are links to recent stories that deal with three major issues for the stock photo industry – Revenue Growth Potential, Setting Bottom Line On Pricing and Future Production Sources.
Read More
Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More

More from Free Stuff