Commercial managers are senior employees of corporations and other business entities who are responsible for expanding the company's market share, generating additional revenues and boosting profitability. Small firms often employ just one commercial manager but multi-national companies usually employ several individuals in commercial manager jobs. Each of these managers is assigned a different region or territory. Energy companies, retailers, service providers and financial firms are among the types of companies that typically have commercial manager jobs.
Many energy-producing firms are private sector companies, although some oil and natural gas producers are government sponsored enterprises. Both government operated and private sector energy firms have to market products to utility companies and consumers. Major energy firms export gas and oil to utility companies in other nations. Commercial managers negotiate contracts with utility providers and make arrangements with transportation firms to physically move barrels of oil and gas containers to the firm's clients. Typically, commercial manager jobs at energy firms are often reserved for individuals who have linguistic skills and a rudimentary knowledge of the commodities markets on which many types of natural resources are traded.
Retailers and manufacturers both employ commercial managers and those who fill these roles have to work with employees in the marketing and advertising departments to promote new and existing products. The commercial manager normally has the responsibility for managing the budget for a particular product, for certain divisions of the firm or for the companies operations as a whole. Commercial managers have to liaise with regional managers to ensure that sales targets are met or exceeded. Firms cannot remain solvent if operating costs including advertising costs exceed actual revenues so the commercial manager has to ensure that products are priced so that the firm can remain profitable.
Service providers including utilities, satellite television companies and telecommunications companies employ individuals to work in commercial manager jobs. These employees develop expansion strategies and work with the marketing team to devise ways for acquiring new clients. Commercial managers often have the authority to approve price reductions and to organize special promotions. Telecommunications firms often employ multiple commercial managers and each one assumes responsibility for a particular service or network.
Banks, insurance firms and investment companies employ commercial managers who are tasked with increasing revenues. These managers attempt to gauge the economic conditions and make decisions as to which types of products and services the firm should focus on and how those products should be priced. Sales managers report directly or indirectly to commercial managers and in many instances the commercial manager may have to assist, re-train or replace managers whose departments are not producing sufficient revenues.
Job requirements for commercial managers vary but most firms hire individuals who have a degree in business, marketing, economics or a related field. Many firms prefer to hire individuals who have industry specific experience. In some arenas such as the investment world, commercial managers often have to obtain government securities licenses since anyone involved in the sale of securities must possess such a license.