Last Updated On July 25th, 2016 at 11:25 pm
MBA in Marketing refers to the course or study of Master of Business Applications in the field of marketing. With the globalization of business models, marketing has become one of the prime focuses of small as well as big companies. With the advent of online marketing, there is a huge demand for in-house teams in marketing that can bring in more target customers and boost traffic to the business websites. While there are quite a few specific areas a graduate of MBA in Marketing can explore, the skill set gained in the course, can be used to explore various careers like entrepreneurial management, consulting, etc.
What is marketing?
Marketing is all about communicating or projecting the value of a service or product or brand to consumers and customers in order to promote and sell the same. Nevertheless, as an MBA in Marketing graduate, you will be dealing with other aspects of marketing including various techniques of marketing, picking a target market, analyzing the market, market segmentation, advertising products and services, framing strategies for promoting sales, and more. The key essentials of contemporary marketing include customer relationship management, branding, societal marketing, business and industrial marketing, and more.
Why MBA in Marketing?
While marketing is a very vast field and there is a constantly growing demand for marketing in almost all industries, competition is very high. You should have extreme skills and in-depth knowledge on various aspects of marketing to speed up in your career. To achieve your career goals, it is important for you to hold a high degree in the profession. There are various benefits of doing MBA in Marketing:
- Holding a professional degree increases your opportunities in your career. The leadership skills acquired through the program helps you to qualify for management level positions. With an MBA, you are better equipped to advance in your current job or secure a new job with a higher ranking.
- With an MBA, you hold high positions in a company, which earns you a very good salary, which ranges anywhere between Rs. 40,000 and Rs. 60,000 as a beginner. However, there are certain aspects like the college in which you completed your MBA, in which position of job you enter a company, and the reputation of the company that hires you, which determine your salary.
- Having an MBA in Marketing boosts your credibility. It implies that you possess certain special skills and high level of work ethics and dedication. It helps you to progress in your career or start on your own.
The duration of the course varies between one and two years. In India, a normal MBA course takes 2 years in a regular college, while an executive or professional MBA course takes one year, based on the university and schools. However, professional courses might demand prior work experience.
If you have interests in the fields of media, entertainment, advertisement, promotions, general management, and sales, then MBA in Marketing is appropriate for you. The course would educate you about marketing fields, sales, leadership and executive management, market strategies, consumer trend, market research, and product management. To simply put, MBA in Marketing is a comprehensive subject of sales, services, advertising, promotions, and study of consumer behavior.
To seek admission in Marketing, the eligibility is the same as other MBA specializations. You are eligible if you have completed a 3- year undergraduate degree course along with a decent score in CMAT/GMAT exams conducted all over India. Some of the accredited universities have their own examination for admission while others don’t. You can also opt to do MBA in Marketing through distance learning program. Universities like Indira Gandhi National Open University, Sikkim Manipal University, etc. offer distance MBA programs in marketing.
What do you learn?
As a student enrolled in MBA in Marketing, you will learn the following:
- Analysis of demand
- Strategic planning
- Consumer relations
- Market research and campaigns
- Consumer behavior and audience
- Cost volume and profit
- Branding and advertisement
- Integrated marketing communication
The course covers each of the areas in-depth over two years along with a practical internship exposure with a reputed company along with all key skills required to face the marketing world.
Practical Exposure while Doing MBA in Marketing
Having a practical exposure during post-graduation has been a major attraction and highlight in the recent years, as it prepares students to face the specific field in real world terms beyond being theoretical. Internship and summer school exchange programs are becoming a part of reputed institutions. As a part of the MBA in Marketing course, you are given an opportunity to study in another university with which the university is associated for a few months. The university could be anywhere in the world. However, only selected few B-schools in India have this facility.
MBA programs in India, as a common practice, put you through an internship program during the second year of the course. This essentially means that for 2 to 3 months you would be working with a company to get a practical exposure in your field of marketing. After the internship, you come back to complete your course. There are instances where students get to complete multiple internships. Most often, companies tend to employ students after they complete the program.
Skills Developed from an MBA Marketing Program
MBA in marketing course prepares you in a holistic manner to face the world. In addition to the theoretical and practical exposure, you are equipped with a range of skill set that is required for your career:
- Analytical skills: With the choice of innumerable data available in the present world, as a marketing professional, you must be able to analyze the value of them and filter out what benefits your organization the most.
- Critical thinking: This is an extremely important quality expected by giant companies if you have to reach the top levels in your career. Critical thinking is a quality that breeds creativity, which is a crucial part of marketing and advertising.
- Technical skills: Marketing is one field, which has been highly influenced by the growth of technology. There is a huge shift in the marketing approach and digital marketing is a major part of every industry. MBA in Marketing equips you to be a technical savvy in your field to keep your team up-to-date.
- Leadership: Leadership is one of the major skills you acquire through MBA course. You learn various aspects of team management, problem-solving, taking initiatives, global orientation, communication, time and project management, planning and strategizing abilities, and more. Tolerance and ambiguity are other basic qualities expected out of a marketing professional, which you tend to acquire through your MBA. In essence, the course prepares you to have a holistic approach that focuses on the cause and effect of entire marketing ground.
Career Opportunities after Doing MBA in Marketing
Once you complete MBA in Marketing with a good score, you have a wide scope of opportunities in private as well as government sectors. As an MBA graduate, you can either be a part of the digital marketing segment or direct marketing. The advent of technology has opened multiple opportunities for you to serve a company through digital tools. You can become an expert in social media marketing, PPC (pay-per-click) programs, SEO optimization, web designing, etc. to express your marketing skills and establish your own online business.
Scope of Doing MBA in Marketing in India
Statistics of QStopMBA.com project that there is a growth of 38% of MBA jobs all over Asia during 2014. In India, some of the top market holders of FMCG (Fast Moving Consumer Goods) sector like Johnson & Johnson, Nestle, P&G, Unilever, Marico, Peps, etc. constantly look for marketing graduates in all levels. Based on payscale.com statistics, you have the scope of earning anywhere between 5 lac and 7 lac if you work in the major cities of India like New Delhi, Mumbai, Pune, and Bangalore. Almost every kind of product and service in the market, require marketing to effectively progress. With the high knowledge and skill set of MBA in Marketing, you only have to identify where exactly you fit in, to express your potential.
Areas of Work for MBA in Marketing Graduates
MBA in Marketing offers various job profiles for you to pick your choice. You can choose to be a marketing manager, brand manager, asset management, corporate sales, media planner, product manager, head of digital marketing, business development manager, client servicing, relationship manager, and more.
Internet marketing is one of the hottest career choices for MBA marketing graduates. There are tremendous opportunities around the world, which gives you the leverage and liberty to work from wherever you want. Client relations and account management are the gateways to enter the Internet world. If you wish to delve deeper, working on various marketing projects on the Internet gives you a huge scope to progress.
MBA in Marketing is one of the most preferred MBA courses in India and across the globe. With the fascinating and challenging opportunities, you only have to set your goals and make a start. With the right efforts and smart approaches, you can be sure to make an exponential progress!
All the best!