An MBA degree in Marketing is one of the most sought after degree by both students as well as corporate in recent time. With an increasing importance of digital and online marketing, many companies now have their own, in-house marketing teams that aim to bring customers and potential customers to the company.
MBA in marketing does cover a majority of portion which is required for entry level managerial management jobs, but marketing itself is a much broad area. One needs to be specialized in one area according to his interest. It may come out of experience or certain specialized study or certifications. Those skill set can be used to explore one best among many career options, from marketing consulting to entrepreneurial management.
If you are an outspoken personality and love to interact with people, may be marketing is the right specialization for you. Let us explore in detail why one should go for an MBA in marketing.
The MBA in marketing: Basic Requirements
The very nature of marketing requires a lot of networking, communication, understanding others including customers and competitors, and being flexible to work for any industry- be it financial products to FMCG products, from agricultural commodities to aircrafts. It requires a good understanding of human behavior analytical and quantitative skills.
Anyone can pursue MBA in marketing, without much difference with respect to academic background. Individuals with good knowledge and application of mathematics and the soft skills like communications, tend to do excellent in MBA-Marketing. Ability to work in different teams and leadership quality is another prerequisite for pursuing this course.
Skills to be developed
To develop above mentioned skills, a marketing degree is quite comprehensive in nature. Though, it covers basics of every marketing concept, MBA graduates needs to find their own interest where they want to work and go for same job profile or certifications. Different industries and even different companies within same industry employ different marketing practices and strategies to remain competitive in market place. It is important for marketing professionals to quickly adapt to the new setting and learn and practice new concepts in short span of time.
Common courses covered under MBA in marketing specializations include:
- Marketing Management
- Customer Relationship Management
- Operations Management
- Marketing Channels Strategies
- Sales & Distribution Management
- Advertising & Sales Promotion
- Consumer and Brand Insight Strategy
- Digital Marketing
- Market Research
- Forecasting, Modeling, and Marketing Strategy
- New product strategy, branding, and marketing
- International and multi-national marketing
- Sales Force Management
As a marketing manager, your responsibility would be to lead the marketing team for different activities like promotion of new products at specific times, tracking existing products are performing and positioned in the market, advertise for new and existing products, networking among channels to increase sales, coordinating between a company’s research & development teams, advertising, and brand strategy teams. His role doesn’t have limited set of responsibilities and broadly includes everything which can lead to company’s success at market place.
Marketing firm vs. Large Firms
There are dedicated marketing companies or advertising agencies which only do marketing projects for large companies on project to project basis and earn revenue. Employees of such companies are considered experts of the field and expected to be more flexible and adaptable according to different client’s needs.
A large corporation on other hand has dedicated department to deal with aspects of marketing and sales. The organizational structure and strategies that the marketing department in a company uses is a complete company policy and develops over time for each company. Not only it difference by industry but size too i.e. a startup employees completely different approach to marketing than a well established firm. A marketing professional, therefore has to be adaptable and flexible according to company and situational requirement. .
Different job roles for a Marketing MBA can be:-