Marketing managers are responsible for preparing the organization’s marketing strategy. With his team of product development managers and market research managers, they study the demand for products and services offered by the firm and its competitors. They also identify potential markets – business firms, wholesalers, retailers, government, the public – for their products. Marketing managers establish pricing plan with the objective of maximizing the firm’s market share and its earnings as well as ensuring that the customers are satisfied. Marketing managers work with sales and product development managers in monitoring the trends which will indicate the need for new products and services and also collaborate with the advertising and promotions.