Today, wherever we go outdoors, we encounter ads in the shape of billboards, hoardings, and so on. Not only that but because of the internet’s increasing reach, we are constantly bombarded with various forms of advertisements whenever we visit social media or other websites. All of these advertisements are part of businesses’ marketing efforts. That being said, marketing is more than just buying or selling things, services, or ideas; it is also about analyzing people, forecasting trends, and creating the future of a company.
If you’ve ever been curious about how businesses develop their communications, how they position themselves in an increasingly competitive marketplace, or how they engage with customers on a personal level, an MBA in Marketing might be exactly the ticket.
This blog has focused on the constantly evolving universe of an MBA in Marketing by delving into themes such as what an MBA in Marketing entails if an MBA in this trade is valuable, the opportunities it provides, and so on.
Are you ready to learn the secrets of the top businesses and the tactics that drive them? Let us begin without further ado.
What is an MBA in Marketing?
“Marketing”, a term we hear daily, is not just a term. Marketing may be defined as the process fundamentally associated with understanding customers extremely well as they are directly relevant to the most basic business objective i.e. profit. Marketing is one of the oldest disciplines of Management study.
In this course, the students learn to develop marketing strategies, market research, targeting customers, market segmentation, digital marketing, brand management, product management, CSR, and so on. A combination of theoretical and practical lessons helps students become industry-ready.
An MBA in this field spans 2 years, usually comprising 4 semesters (some business schools use the trimester pattern). MBA in Marketing, apart from being a course that imparts extensive knowledge, also lays a strong emphasis on skill development to make each student ready for the industry. Lectures, practical work, projects, internships, and research prepare a student with a strong foundation.
Is an MBA in Marketing a Good Degree?
Marketing is one field that will never go out of trend. Why so? Well, since it is critical to every company’s survival. No firm can operate without marketing and promoting itself to its target consumers and stakeholders. And the key to doing this well is to work with experts who have an extensive understanding of the trade.
However, whether or not an MBA degree in a particular field is valuable is determined by a variety of criteria, the most important of which is one’s career objectives. If a student enrolls in this course with the intention of pursuing a job in marketing, an MBA degree will undoubtedly be handy.
That being said if you’re thinking about getting an MBA in marketing and want to know what the perks are, here’s a list to keep in mind.
High Demand
The market demand for MBA in Marketing is high and expected to rise further in the future. The marketing trend has been greatly boosted by growing technology, and companies generally value people with special skills in the field, such as social media management and digital marketing.
In-depth knowledge of the Field
An MBA in Marketing covers a wide range of subjects, allowing students to expand their understanding of many facets of marketing. Students study several aspects of marketing, such as advertising, branding, customer segmentation, product positioning, target market selection, and so on. These skills are not only taught academically, but also via practical training activities such as internships, industry visits, seminars, workshops, simulation programs, and others.
Skill Development
If you wish to gain in-depth knowledge of marketing and its different aspects, an MBA in Marketing could be a highly lucrative subject. The curriculum typically offers students a firm foundation in marketing concepts as well as interpersonal skills such as communication, brand management, teamwork, and negotiation, among others. All of these skills are incredibly useful for someone looking to further their career in this field.
Higher Earning Scopes
MBA graduates frequently have more earning potential than individuals who have merely undergraduate degrees. With the growing demand for marketing professionals, the earning potential is substantial. In India, the initial average income for MBA Marketing graduates varies between Rs 4-5 LPA, however, this can quickly ascend, perhaps surpassing Rs 10 LPA for those with more experience.
Leadership Skill Development
An MBA degree not only imparts academic knowledge but also educates on the development of necessary skills for a corporate career. One such skill is leadership, which prepares students for senior positions within the marketing field and beyond.
Work in Diverse Industries
Whatever the type of business, marketing is eventually necessary. Therefore, all industries—including the retail, automotive, health, education, IT, and even entertainment sectors—need qualified specialists to assist them in marketing their goods, services, and concepts. Working in the marketing field means that there are never any boring moments.
Networking
One important reason to get an MBA in Marketing is to establish a strong network of industry experts and alumni. Top MBA in marketing colleges in Kolkata offers a plethora of scopes to foster a network with alumni, peers, as well as industry professionals. In this context, it must be noted that navigating the corporate world effectively requires knowing the right paths, and a strong network can provide valuable opportunities. Networking not only leads to new career opportunities but also offers guidance on how to succeed in the marketing profession. Additionally, interactions with industry specialists can keep you up to date on the newest trends and growth.
Who Can Take Admission to an MBA in Marketing: Eligibility
For admission to a Marketing MBA degree programme, one must fulfill the following criteria:
- Graduation: A bachelor’s degree from an accredited university.
- Management Exam Scores: A minimum valid score in management entrance exams like CAT, MAT, XAT, CMAT, etc.
- Executive MBA: Minimum work experience of 2-5 years (if applying for an Executive MBA programme).
- For International Programme:
- A GMAT score of above entry requirements, depending on the program.
- A valid score in language proficiency tests like TOEFL, IELTS, or PTE is required.
Course Structure: Syllabus
The course structure of an MBA programme tends to vary from one business school to another. That being stated, GBS, one of the best institutions for postgraduate management studies, offering both PGDM and MBA (Global) courses, offers a full-time PGDM programme with a specialization in Marketing (along with other specializations).
Here is an overview of the PGDM in Marketing curriculum (the PGDM programme at GBS is equivalent to an MBA degree).
The programme offers the following areas of study:
- Industrial Marketing
- International Marketing
- Marketing for Non-profit organizations
- Relationship Marketing
- Rural Marketing
- Social and Environmental Marketing
- Strategic Product & Project Pricing
- Consumer Behaviour
- Cross-cultural Marketing & Ethnographic Orientation
- Logistics & Sales Force Management
- Product Innovation & Management
- Sales & Distribution Management
- Services Marketing
- Strategic Brand Management
- Digital Sales
- Marketing Research
- Sports and Tourism Marketing in India
- Innovation & Entrepreneurship
- Brand Valuation
- Marketing Policies and Operations
- Marketing and Public Policy
- Marketing & Business Ethics
- Social and Digital Marketing & Analytics
- Digital Marketing
- Integrated Marketing Communication
- Retail Marketing
- Dissertation for Marketing School of Excellence
Scope of an MBA in Marketing
After MBA in Marketing what to do? MBA degree is one of the most sought-after degrees by students as well as corporate in recent times. MBA in Marketing provides a major portion of entry-level managerial management jobs. There are various career opportunities in the Government and Private Sector, Retail, Tourism, Banking, Hospitality, Media, Advertising, Consulting, Market Research, etc.
Some of the profiles where an MBA in Marketing can flourish as a professional are as follows:
- Digital marketer
- Brand manager
- Social media marketing manager
- Asset management
- Market research analyst
- Product management
- Product analyst, etc.
After finishing a PGDM in Marketing, one can pursue postgraduate studies in the following subjects:
- Asset Management
- Risk Analysis
- Digital Marketing
- PhD in Marketing, etc.
MBA in Marketing Salary in India
The annual salary range for Indian graduates with an MBA in Marketing generally falls between Rs 4-5 LPA (entry-level).
MBA in Marketing at GBS
There is no dearth of best colleges for MBA in Marketing across Kolkata. Although GBS does not offer an MBA degree course with a specialization in Marketing, it offers an AICTE-approved PGDM programme in the same field, which is equivalent to an MBA degree.
The PGDM in Marketing programme at GBS is a full-time one, spans 2 years, and is conducted at its campus located at Amtala. The campus is well-equipped with top-notch infrastructure, which contributes to the establishment of the best learning environment.
GBS does not just focus on imparting academic knowledge but also on learning that goes ‘Beyond Education’, which uses Experiential Learning in its curriculum that shapes young minds into ‘industry-relevant managers’ of the 21st-century corporate world.
The School of Marketing Excellence at Globsyn Business School, armed with an unbeaten course structure, live and industry vertical specific case studies, live projects, workshops, advertisement clubs, and other creative pedagogic tools, represents an ideal ‘gurukul’ to learn the intricacies of today’s marketplace.