The marketing MBA equips students with the skills and knowledge about consumer behavior, advertising and various other marketing concepts. You can now choose from a number of schools and colleges that offer MBAs in marketing programs according to your needs, goals, and academic background. Enrolling in MBA Marketing programs may be able to help students keep pace with the ever evolving business world.
Must-Have Skills of Marketing Professionals
Marketing managers apply their skills to a number of scenarios in different industries and for companies both small and large. These skills are:
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Analytical skills: In the present world, there is a lot of data that is available to marketing professionals. A successful marketing manager will know the value of this data and will analyze it for the benefit of their organization.
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Critical thinking: A research done by the American Management Association (AMA) in 2010 revealed that a majority of executives said that according to them, the most important quality of an employee were critical thinking skills. Critical thinking breeds creativity which can be essential in a career in advertising and marketing.
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Project management: The marketing profession is very project oriented, with frequent short term campaigns focused towards a specific aspect of the product. This may range from social media projects to new product launches.
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Technical skills: It is common knowledge that technology will continue to advance, but what is lesser known is that marketing is very heavily influenced by changes in technology. The more tech savvy a marketing manager is, the easier it will be for them to keep their team up to date.
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Holistic approach: Marketing is a highly interconnected and integrated process. The future marketing manager will focus on the cause and effect aspect of marketing.
Admission Requirements
The MBA has some very specific entry requirements, they are:
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Completion of a bachelor’s degree or equivalent
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GMAT or GRE score
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Personal statement
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Resume
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Recommendations from instructors or employers
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Official college transcripts
However, students who already hold a doctoral or post graduate degree in marketing may request to be exempted from GMAT or GRE.
Scope of the MBA in Marketing Program
Since MBA programs are aimed towards professionals, students are given several options through which they can pursue their degree. The most common options are regular or executive MBA programs. The various concepts of marketing which you may learn include:
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Advertising strategies
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Consumer relations
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Pricing
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Marketing research
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Retailing
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Strategic planning
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Cost, volume and profit
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Analysis of demand
The above mentioned courses are part of the core curriculum that is a compulsory degree requirement. However, you will also be able to take some elective interdisciplinary courses which will expand your knowledge base. Online MBA of Marketing degree programs can also be a viable option for individuals already employed. There are several accredited institutes that offer online MBA in marketing degrees. These online programs can be managed from any location. Students can study at their own pace and the timings can be set according to their own schedule.
Careers Outlook
Having an MBA of marketing degree offers a variety of career opportunities. You can work in advertising, public relations, business administration and many other fields. Students with these degrees can work as:
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Marketing Assistants
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Supervisors
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PR Officers
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Administrators
Some of the options available with a marketing MBA are Promotions, Advertising or Marketing Managers. These managers generally aim to generate public interest in a service or product. They are employed in a number of settings from advertising agencies to enterprises and industries.
As of 2012, the median annual wage of promotions and advertising managers was $88,590 while their expected job growth from 2012 to 2022 is at 7%. On the other hand, as of 2012, the median annual wage of marketing managers was $119,480 while their expected job growth from 2012 to 2022 is at 13%.
*All salary related figures have been taken from the U.S. Bureau of Labor Statistics.
How Long Does It Take to Complete an MBA Degree in Marketing?
If you want to make a name in the marketing industry, a 2-year MBA degree in Marketing is an excellent option. There are several universities like Harvard, Yale, Stanford, UCLA and the University of Florida that offer an MBA degree in Marketing. These institutions are consistently ranked among the world’s best for an MBA Marketing degree. Normally, itis offered as an on-campus full/part-time degree but some universities offer an online MBA degree as well.
What Are the Requirements to Complete an MBA Degree in Marketing?
The requirements to complete an MBA Marketing degree vary for each university. Even though each university tailors its curriculum differently, a few subject areas can overlap. For instance, subjects like International Marketing, Customer Analysis, Decision Making and Marketing Strategy are taught by almost all institutions. The credit hour requirement for graduation also varies for each university and depends on the intensity of the curriculum. Generally, students need to attend lectures, pass exams, work on projects and complete an internship or write a thesis to graduate.
How Much Can I Make after Completing an MBA Degree in Marketing?
Graduates of an MBA degree in Marketing either choose to work in the field to gain experience or opt for a doctoral degree to become a Postsecondary Business Teacher at a university. People with an MBA Marketing degree can work in the field as Marketing Managers. Marketing Managers made $134,290 in annual median income in the year 2018 as per data published by the US Bureau of Labor Statistics.