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Why choose an MBA in Marketing?

Admin | July 29, 2022

Master of Business Administration (MBA) is a postgraduate degree mainly focused on business administration and leadership. An MBA can be a valuable degree to break a few glass ceilings and move to the top of corporations. This is one of the reasons why a large number of people choose an MBA degree over other postgraduate courses. MBA programmes are structured to provide professional knowledge in the core specialisation. There are immense benefits to choosing an MBA over other courses, some of which we have listed below

  • New Career paths are open to you

Shifting and pursuing a new career path is not easy, especially if you have been working in the same industry for a long time. Gaining new skills could help you to shift from one career path to another. Even if your background is not typical for the position you are considering, an MBA will provide the education and skills needed to help you become a more qualified candidate

  •  Enjoy greater job security

Today’s job market is more turbulent than ever before, and we somewhat feel much uncertainty and fear of being left out with the rest of the crowd. Among the many benefits of an MBA are a more marketable skill set and greater job security which may contribute to peace of mind. The skills you develop in your MBA are valuable to corporates, and even if you leave your job, your qualification stays with you, increasing your probability of returning to work more quickly

  • Availability of numerous job opportunities

When you complete your MBA, the number of positions that are available to you rises dramatically. This is owing to the fact that you gained a lot of insight into business and managerial decisions and strategies. Having so much knowledge makes the employer hire more MBAs 

The initial phase of an MBA, usually the first year in a two-year MBA programme, is dedicated to the completion of core subjects that lays the fundamentals of the concepts across the various management subjects and in the 2nd year, you can choose to specialise in one or more areas, there can be many factors that can influence your choice of MBA specialisation such as the jobs availability in the specialisation area, your interest area, your preferred job profile and of course the salary. Here are a few of the most popular specialisations:

  • Marketing
  • Human Resources 
  • Finance
  • Information Systems
  • Consulting
  • Entrepreneurship
  • Operations 

For the rest of this article, we are going to discuss specialisation only in marketing.

Scope of Marketing Domain

MBA Marketing jobs are a fantastic option with the ability to impact both the operation and the management of the organisation. As the company struggles with recession and competition, MBA graduates from marketing are more preferred than ever before, while a lot of us get into marketing and sales with a degree. It is hard to make a switch, but recruiting companies are expected to see a more formal degree to prove your competence. A top MBA in marketing could help you to move out of the shadow and make an impact on the organisation. The various roles after completing MBA in marketing include creating marketing strategies and fine-tuning the sales pitch and product positioning, optimising the pricing, driving sales, negotiating deals, and growing the company to its new high.

Philip Kotler and Gary Armstrong, in their popular publication “Principles of Marketing,” stated that “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others.”

Thus, adding value to the product you are offering is called marketing. The value could be real or illustrative, like adding a status symbol for your product. Whatever the case, If you are a person who seeks great potential in people or things that you think have value and could be placed in a market, marketing is your thing, and an MBA in marketing could lead your way ahead. Here are a few additional points that could help you make thoughtful decisions 

Reasons for choosing MBA in Marketing?

  • Dynamic domain

Marketing is a dynamic domain that could land you the best of the marketing roles available in the job market. The programme MBA in Marketing enhances your knowledge of product development, business development, advertising, and other marketing skills.

 In this digital world, marketing is no longer a simplified concept as it used to be a few decades ago, big data has given insight into information that can be used by marketing personnel to enhance customer experience, and the MBA in Marketing helps you get a complete perspective of this changing trends and helps you develop skills to keep a pace with it

  • Deep marketing knowledge 

A specialisation degree gives you a deep and thorough knowledge of the respective domain. Similarly, a student gets to learn many subjects in the 2-year programme, including finance, marketing, human resource, and management accounting. Apart from getting knowledge from these diverse subjects, you will be imparted with hands-on experience doing various projects

  • Better earning potential

A master’s in marketing can help you get a good package. As per the statistics, an MBA in marketing earns somewhat from as low as INR 3 Lakh to 30 Lakh or even more, depending on your experience, your academic grades, company and the sector, and a number of other factors.

The career progress and salary of an MBA grad in marketing depend on their capacity to innovate. For example, a creative and self-driven marketing manager may rise through the ranks and could become a product development manager or even vice president of marketing in an innovative organisation. As you grow in the field, the reward in terms of salary and variable pay, including commissions, can be huge 

  • Communication skills

People usually struggle with communicating their ideas and thoughts properly, even sometimes in their native language. Lack of communication skills often leads to confusion and chaos amongst your team. An MBA is structured to provide you with in-depth knowledge in marketing that could help you to communicate easily even with an experienced person in the marketing domain.

  • Several job opportunities

Marketing professionals are in demand in every industry, such as retail, IT, hospitality, banking, media, and FMCG. In a nutshell, here are the descriptions of some of the jobs

  • Brand Manager: A person responsible for the promotion and placement of the brands of a company and data collection of rival brands
  • Sales Manager: A person responsible for sales targets and monitoring the distribution and customer service
  • Marketing Manager: A person who evolves marketing strategy but also focuses on retaining customers
  • Product Manager: A person who manages the delivery of products to the customers and is also in charge of the profitability and market growth of the products 

After completing your MBA in marketing, There is an abundance of opportunities available for you that could lead your way. We have picked a few of the best jobs that fit a profile for an MBA in marketing

  • Marketing Analyst
  • Digital Marketing Analyst
  • Brand Manager
  • Customer Relationship Manager
  • Head of Marketing
  • Advertisement Manager
  • Corporate Sales
  • Marketing Executive
  • Marketing Consultant
  • Business Consultant
  • Project Manager
  • Sales Executive

MBA in Marketing salary in India

While in your initial roles, your compensation depends a lot on your interpersonal skills and personality. An MBA in Marketing could easily land you good compensation in various roles. We have listed down some of the roles and their compensation.

Job titleAverage compensation(in INR)
Marketing Manager₹ 7.3 LPA
Business Development Manager₹ 5.2 LPA
Marketing Executive₹ 2.7 LPA
Digital Marketing Manager₹ 7.2 LPA
Senior Marketing Manager₹ 15.0 LPA
Business Development Executive₹ 3.0 LPA
Project Manager₹ 14.5 LPA
Sales Executive₹ 2.2 LPA

MBA Marketing syllabus

MBA in Marketing courses are designed to provide insight into many subjects, including marketing research, customer behaviour, research, relationship management, advertising, e-marketing, etc. The topics cover both theoretical and application-based knowledge of the subject matters of the business areas you will work. 

Below is a semester-wise MBA in marketing syllabus of Manipal University Jaipur’s online MBA course

First semesterSecond semester
Management Concepts and Behaviours on OrganisationCost Management and Operations Accounting
Managerial Economics, Environment, and Quantitative Techniques for AnalysisManagerial Marketing
Statistical Analytics and Research on OperationsConsumer Behaviour
Management Accounting and CommunicationsAdvertising and HR Management
Finance ManagementDecision Making for Accounting and Business Management
HR ManagementProduction and Project Management
Third semesterFourth semester
Research TechniquesBrand and Product Management
Marketing for Different Industries’ BusinessesManagement for International Businesses and Total Quality Management
E-Commerce and Retail MarketingIntegrated Marketing, Logistics, Distribution, and Supply Chain Management
International BusinessAny 4 elective courses in a chosen business area
Any 4 electives in a chosen business areaGraduation Project

Elective SubjectsThird SemesterFourth Semester
MarketingSales and Distribution, Logistics & Supply Chain Management, Consumer Behaviour, Marketing for the Retail Industry and Research techniques Service Marketing and Customer Relationship Management, Advertising Marketing, Sales Promotions, International E-Commerce marketing

Students who want to apply for an MBA in Marketing require to appear in a Common Admission Test, which is held once a year, usually in November or December and based on the grade they obtain in the test, they will be given admission. The MBA programme requires you to have your graduation in business, accounting, finance, or any allied field by the time you get admission. To know more about the MBA Marketing syllabus, click here.

Be a top-notch marketing professional with Online Manipal

A Master’s in Business Administration degree with marketing as an elective can give you the necessary career boost – both in terms of earning potential and much-needed entry into executive and managerial roles. With increasing awareness on  the internet, online MBAs are gaining more popularity than ever before. Here are a few of the benefits of opting for an online MBA programme:

  • Obtain a degree at your own pace

The main idea behind online MBA programmes is to help students to obtain a degree from anywhere and anytime. Considering that most of the students enrolled in online MBA programmes are working professionals with huge job commitments, the flexibility of academic scheduling is by far the most important component of an online MBA 

  • The quality of education at Online Manipal is comparable to the on-campus MBA.

The MBA curriculum, faculty, and alumni network of Online Manipal is the best and is on par with the on-campus counterpart. 

  • Designed to match the on-campus curriculum

The Online MBA programme of Manipal University Jaipur are designed to match the on-campus curriculum as closely as possible, and there are recorded as well as live classes and interactive video conferences. Students get the chance to interact through live forums or chat rooms, and some of the programmes even include career coaching sessions. 

FAQs about MBA in Marketing

  • How could an MBA in Marketing shape your career?

During the 2 years, MBA changes you and makes you a better version of yourself by improving your communication and overall personality. An MBA also helps to acquire several other valuable skills in the respective domain that can help you to start your own business. An MBA degree also helps you to become self-confident and develop your analytical and critical thinking abilities and provides you with immense knowledge but also a sense of discipline, and makes you a market-ready person

  • Is it worth doing an MBA in marketing ?

There is a lot of scope for an MBA in marketing, and it is a vast field of study. After completing your MBA, Big corporations such as HUL or Marriott International, or ITC, employ them as managers or sales executives. Candidates can also work in retail, tourism, marketing research, and other allied industries.

With an MBA degree in marketing, candidates can also work as lecturers in prestigious institutions. If you are interested in higher studies, then you can also pursue a PhD programme in related studies.

Conclusion

MBA in Marketing has excellent potential as a career option given the compensation and the skills you will have post completion of the degree. Pursuing an MBA in Marketing from an esteemed university opens up new career opportunities for students as well as working professionals who wish to step into managerial roles.

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