Scope of MBA in Marketing
Traditionally, marketing was a very simple and straightforward affair. There wasn’t much an MBA in Marketing course would have taught students back then. The situation was that the potential customers would see an advertisement for a product or a service in a newspaper or on a billboard on the highway. Then, when their interest was aroused, they would contact the brick-and-mortar store which sold the product or service by phone. The company representative on the other line would answer their queries about it and would give them some additional information, at the most telling them about one or two additional products or any special discounts that the company had ongoing.
The customer representative on their part, and the company as a whole, would also get very little chance to give the potential customers any exposure to their product and service offerings. At the most, they could inform the customers over the phone about their additional offerings or place advertisements on billboards on highways or in newspapers and pray that potential customers who actually had a need for them would see them. This relied a lot on luck because the relevant advertisements would have to magically appear before the customers who actually had an interest in those products and services.
So, in a nutshell, in traditional marketing –
- The relationship between companies and customers was one-way.
- The relationship between the companies and the customers was linear.
- Advertisements were constricted to billboards and brick-and-mortar stores.
- Customers had to rely on a single source of information – that was the company representative on the call.
How things have changed –
Today, the situation in the world of marketing is completely different. With the explosion of digital platforms, virtually every person is active on the internet and has an online presence on any one of these incredibly popular digital platforms. They post original content on these platforms, like, share, and comment on content, and consume thousands of hours’ worth of content in a month. This means that there are many more mediums through which companies can reach potential customers and give them information about their products and services. Platforms such as Youtube, Facebook, Instagram, and Twitter have changed the mechanics and dynamics of marketing completely and have given rise to a new form of marketing called digital marketing.
Now the name of the game is to catch the attention of the customers and arouse their interest using promotional content that is high quality and compelling enough to convince users to make the crucial decision to make the purchase. This new era of digital marketing has ended the age of billboards and newspaper advertisements completely because now there are much more effective ways of finding interested customers and advertising to them. This change in the game has increased the scope of MBA in Marketing degree enormously.
Companies can even build active and lively communities around their products and services by creating Facebook pages, Youtube channels, and Twitter accounts that promote discussion and conversation around their offerings. Users can like, share, and comment on the companies’ promotional material and can even post original material of their own related to it. Thus, companies are able to interact with users and engage with them in a real and interesting way and thus keep their attention and minds actively thinking about their offerings.
So in the new age of marketing –
- There exists a two-way relationship between the companies and the customers instead of a uni-directional relationship.
- Dynamic relationship between the company and the customers instead of the previously static one.
- Advertisements have been transmogrified into channel content, company community pages, and entertainment posts.
- Customers have become smarter and more able and ready to research information about their potential purchases on their own because they have many more reliable sources of information instead of simply contacting the customer representative via the phone.
To take advantage of this shift in the status quo, individuals can take the MBA in Marketing course and upskill and upgrade themselves.
How MBA in Marketing graduates can help companies –
- You will be able to help your company target its audience very easily –
With the knowledge and tools of digital marketing, you will be able to help companies target the relevant audiences very easily. Digital marketers are able to collect and gather data from potential customers in the form of massive data sets and then analyze them using digital marketing tools and algorithms to pinpoint specific characteristics in them. These characteristics can range from the personal behavior of the potential customers, to their likes, dislikes, and other miscellaneous preferences, to their sleeping and eating habits, to their buying preferences.
With the help of this information, digital marketers can create advertisements and promotional content targeted at the specific niche the company wishes to reach or which the company is aiming to influence towards their offerings. They can target a specific demographic or the general public with little tweaks, adaptations, and modifications to appeal to specific groups within the general public.
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- You will be able to reduce the investment the company has to make and increase the RoI –
Traditional marketing does not have very promising and rewarding avenues for marketing a company’s products and services to potential customers. Methods such as publishing print ads in newspapers and magazines, business cards, radio and TV commercials, posters, brochures, and billboards do not carry any guarantee that the intended audience will even see them at the end of the day. The companies have to rely on luck and the chance that their intended audience will stumble across these ads. These methods are very expensive, too, with newspapers charging incredibly high amounts for print ads on a per word basis.
But with the targeted advertising that digital marketing brings to the table, companies can reach their intended audience with a reasonable amount of certainty that they will see their advertisements. The costs of running digital marketing campaigns are much lesser than their traditional counterparts, and the returns on investments can be incredibly high. A single viral video on Youtube can bring the company millions or even billions of views and lots of generated revenue from the advertisement itself, what to speak of the lead conversion from the interest generated by that advertisement. Digital marketing requires relatively little investment up front, and companies can scale it as they grow. The study of this economic saving through digital marketing is included in the scope of MBA in Marketing degree.
- You will be able to help the company reach mobile users –
The most coveted platform which companies want to target and secure is the mobile platform. There are literally billions of users using mobiles around the world, and a vast majority of them are active on the internet and use the internet mostly through their mobile phones. So any company which manages to perfect its digital marketing efforts for the mobile platform will immediately have access to a market that is billions of people strong.
With the MBA in Marketing degree, you will learn all the intricacies of marketing to mobile users and what are the do’s and don’t’s of the platform. You will be able to help your company engage with mobile users effectively and will help them draw in this impressionable and socially active segment of the population, which is active almost 24/7 on this platform, to the company’s products and services. The total number of mobile devices in the world is estimated to be at a whopping 14 billion, and this number is predicted to reach an even more incredible 18 billion by the end of 2024. So companies are scrambling to target this platform, and you will be able to assist them.
- You will be able to help the company engage in omnichannel marketing –
Digital marketing has become so important that nowadays, if a company does not have an active online presence on every major digital platform, it is considered to be a black mark on its reputation. This fact only points to the ubiquitousness of digital platforms. Now, if a company is to be considered a modern outfit, it is expected to engage in a practice known as omnichannel marketing.
Omni-channel marketing means that the company will have to create specialized advertisements for each of the platforms that it is active on, optimized for that particular platform’s interface. For instance, if a company has created an advertisement for Facebook, it will also have to recreate that advertisement tailored to Youtube’s specific dimension requirements and policy requirements so that the users can get a seamless experience on every major channel. Omni-channel marketing is one of the topics covered in the MBA in Marketing course.
- You will be able to help companies develop marketing strategies and plans –
The basic difference between successful digital marketers and those that don’t make a mark is how much planning they put into their approach. The best kind of digital marketing is one in which the marketers plan the details of their campaign meticulously and carry out all the required research on their target demographic, the products they are promoting, the platforms on which they will engage the users, and how well the product itself matches the expectations of the target audience.
Digital marketers who proceed in a haphazard fashion see similarly haphazard success marred by wasted time and energy and marred by little to no returns. This haphazard approach is repeatedly warned against in the MBA in Marketing course. A proper marketing strategy is very important for digital marketers to succeed in today’s hyper-digitalized and hyper-competitive world. You will be able to help your company craft detailed and extensive marketing strategies and plans and will be in a position to spearhead the marketing efforts so that your company’s budget and resources are utilized most efficiently and in an optimal manner.
- You will be able to help companies carry out consumer behavior research –
Data is king in almost every sector and industry of the world today, and the field of marketing is no different. Today, starting a promotional campaign without carrying out thorough research on the target audience and without deeply analyzing the consumer behavior is foolhardiness, if not outright commercial suicide. This is because customers have grown to expect advertisements and promotional content targeted to their unique tastes and preferences. Just throwing some unrelated content at them will lead to being utterly ignored and disregarded by them.
So when data is king, digital marketers have to gather lots of it to carry out consumer behavior research. The MBA in Marketing course will teach you how to help companies collect this data from mobile phones, PCs, Point-of-interest and point-of-contact, Email, Landing pages, Customer Relations Management (CRM) software, Point of Sale, and Customer interviews. After gathering this data, you will also be able to help companies process and make sense of it and draw specific, meaningful insights that will help them tailor their products and services to the tastes of their intended audience in much better ways.
- You will be able to help companies get a global reach for their products and services –
Digital marketing has made something possible that was traditionally very difficult, expensive, and labor-intensive to achieve. With digital marketing, companies can reach an online audience without any difficulty through the power of the internet. Now even a small business owner can reach and engage with an international audience and can potentially rake in massive revenues if he crafts his promotional campaigns right and creates them in such a way that they appeal to a global viewership.
You can help companies get this global reach by studying the ins and outs of the modern global audience and how to cater advertisements to a global taste and to universal appeal. You will be taught how to do this in the MBA in Marketing course.
Benefits of getting an MBA in Marketing degree –
- You will have a lot of flexibility in your future career –
With an MBA in Marketing degree, you will be able to find a job that affords you a lot of flexibility. Digital Marketers do not have the same typical workstyle as traditional office-goers do. Digital marketers have to handle campaigns on several different fronts, and all of them have different times of completion and give results at different rates. This means that digital marketers do not have the traditional working hours that other professions do, and so they can enjoy a lot of flexibility at their jobs.
Also, digital marketers typically don’t have to come to office physically because all of their work can be accomplished from any location with a strong internet connection. So you will not have to report to office regularly. Only for urgent work or staff meetings will you be required to be physically present at the office. The rest of your work can be done from home.
- The background education deals with practical subjects and is relatively easy –
In the MBA in Marketing degree, you will learn a lot about creating and developing marketing strategies and plans, product and brand management, and also about carrying out consumer behavior analysis and market research. These can be complex topics, and doubtless, they require to be studied and digested, but at its core, digital marketing, which takes the lion’s share of marketing today, is very simple and can be accomplished by anyone with basic computer skills and an internet connection.
So apart from the management-heavy subjects, the tools and techniques you will learn in the MBA in Marketing course will be very simple, straightforward, and relatively easy. This is because digital marketing does not require a heavy or advanced background education and is very easy to enter into. So the subjects and study material that you go through will be easy to understand and easy to engage with because most of it will center around digital marketing.
- Your value in the job market will increase tremendously after taking this course –
There are very few people who understand how to get marketing right. Marketing, and especially digital marketing, is not a very well understood or well-comprehended field and is very dynamic and rapidly changing on a daily basis. As a result, there is a huge gap in the supply and demand of skilled digital marketers and skilled marketers in general. The demand is huge because marketing is a part of virtually every endeavor in the private and corporate sectors, and the supply is low because enough skilled professionals simply don’t exist right now.
So by taking this MBA in Marketing course, your value in the job market will increase tremendously because you will be able to fulfill that demand. So in all likelihood, you will command a very high salary package after graduation.
- You will be able to make full use of your creativity and originality –
You will learn how to develop marketing strategies and craft advertisements that are creative and original. After completing the MBA in Marketing course, all your work will be characterized by creativity and originality. So your work will always be interesting, and you will never have a dull day.
- You will learn the art of multitasking –
Marketing professionals are in charge of several different digital marketing and promotional campaigns at the same time. So they have to handle a lot of interesting, dynamic, and rapidly changing work on several different fronts at the same time. This requires the skill of multitasking. So by taking this MBA in Marketing course, you will be equipped with the art of multitasking so that you are able to tackle all the multifarious divisions of work that are a part of your job responsibilities.
About BML Munjal University’s MBA in Marketing course
From the above discussion, you can easily see that the field of marketing is very fluid and is constantly changing. In such a rapidly evolving and dynamic scenario, there is an absolute necessity of getting formal education in the field so that you can effectively function in it and successfully tackle the challenges in the real world.
We at BML Munjal University offer the ideal solution to this problem with our MBA in Marketing course. This course has been designed from the ground up to be relevant and constantly updated to address the current situation in the world of marketing. It is full of recent case studies and practical projects drawn from a wide range of domains in the industry so that students are able to get practical and hands-on experience in solving marketing challenges in the real world.
This MBA in Marketing course has a world-renowned faculty, all of whom are known experts in their areas of specialization and all of whom have been selected to teach this course after a stringent and rigorous screening process.
All of them are grounded research leaders in their areas and will train students in the fundamentals of marketing so that they are confident in the ambiguous and uncertain reality that pervades the corporate world nowadays. The program’s immersive and experiential learning helps the students become more practical and application-focused and gives them the range of ideas they need to think up creative and dazzling solutions to problems from consulting, information technology, and global practices.
The students will also be given awareness about the many social issues permeating our social fabric today and the knowledge of how to use managerial principles to solve them. As MBA graduates, by the end of the program, they will be able to contribute significantly to any company’s business objectives and will be able to act as catalysts for positive change. Below are some of the MBA in Marketing course details.
Program outcomes –
- Students will learn the practical side of designing solutions and of implementing theoretical concepts in real-world marketing projects.
- Students will learn the principles of designing effective influence strategies in various contexts, such as business and entrepreneurial situations.
- Students will be taught to place great emphasis on shared outcomes and focus on an outcome-driven approach to creating marketing campaigns and marketing strategies.
- Students will be taught the value of positive thinking in building a learning and leadership culture.
- Students will be taught how to deal with pressure and deadlines in real-world scenarios and practical projects drawn from a wide variety of sectors and industries.
MBA in Marketing Syllabus –
Some of the topics of the MBA in Marketing syllabus are –
- Advanced Marketing Research
- Integrated Marketing Communication and
- Brand Management
- Consumer behavior
- Digital and Social Media Marketing
- Sales and Distribution Management
- Advertising and Media Planning
- Relationship Marketing
- Service Management
- Social Media and Digital Analytics
- International Marketing
- Marketing Metrics
- Retailing and Omni- Channel Marketing
MBA in Marketing course duration –
2 years. Core subjects in the first year and Marketing specialization in the second year.
Skills you will learn in the course –
- Developing marketing strategies and plans
- Product and brand management
- Digital Marketing
- Analyzing consumer behavior and selecting markets
- Managing distribution, marketing channels, and retailing
- Integrated marketing communications
- Marketing Research
- Interpersonal skills
- Strategic thinking
- Entrepreneurial skills
- Communication skills
- Leadership skills
- Problem-solving and analytical skills
- Presentation skills
- Etiquette and conversation skills
- Consulting skills
- Performance management skills
- Selling, negotiation, and persuasion skills
Careers you can go into after completing MBA in Marketing –
- Marketing Manager
- Public Relations Specialist
- Marketing Research Analyst
- Sales Manager
- Sales Representative
- Management Analyst
- Advertising or Promotion Manager
- Brand Manager
- Asset Manager
- Corporate Sales
- Product Manager
- Media Planner
MBA in Marketing FAQs –
- What are the career services that the MBA in Marketing program offers?
BMU’s MBA in Marketing is one of the top MBA in Marketing programs because it offers the following career services as a part of this program –
- Recruitment events – Frequently organized recruitment presentations and industry panel discussions on campus. Students get the opportunity to connect with a wide range of companies from various fields, thus getting the platform to build healthy relationships with potential employers from the beginning.
- Networking – BMU offers its students many platforms through which they can directly connect with corporate partners and industry leaders, have constructive interaction with them, and gain valuable insights.
- Internships – BMU’s Practice School is a mandatory 8-week graded internship through which students get the chance to gain valuable practical and hands-on experience through dynamic internships.
- Incubation center – BMU’s incubation center provides entrepreneurs-would-be with the tools, skills, place, and guidance to test out the viability of their ideas and realize their dreams.
- Career skills workshop – Our career skills workshops contain best-in-class consultants that provide the students with industry-specific interview clinics, assessment center simulations, personal grooming advice, and soft skills training to prepare them for the selection rounds at hiring companies.
- Career advisory – BMU’s career advisory guides students through self-assessment, market research, cover letter and resume writing, and helps them in formulating their personal goals and forming a career plan.
- Which colleges and universities is this MBA in Marketing program partnered with?
BMU has the Imperial College in London as its academic mentor for this program, a college that is ranked 9th in the latest QS World Ranking of global universities. BMU also has collaborations with the following universities for this MBA in Marketing management program – Singapore Management University, Carleton University, Kent State University, University of California, Berkeley, Aston University, North South University, Saint Mary’s College of California, and many more. All of our MBA program students can also attend the Global Leadership Module at the Imperial College in London, which will allow them to gain new perspectives and experience of global business practices, challenges, and cultures.
- How many students choose the MBA in Marketing specialization?
The total intake for all MBA programs is 120. 51% of our MBA students choose the MBA in Marketing specialization.
- Which companies hire MBA in Marketing graduates?
Some of the companies which hire MBA in Marketing graduates are –
- Al Futtaim Kaybee
- RAK Bank
- Al Ghanim
- KOJ Establishment
- Ranbaxy Fine Chemicals India
- Spencer’s Retail Ltd India
- Avalon Consulting
- Raymond Ltd
- Strategic Foods
- AW Rostamani
- Reckitt & Benckiser
- Tata Consultancy Services Ltd India
- Cognizant Technology
- Solutions India
- Tech Mahindra
- Bain & Company
- Goldman Sachs
- JP Morgan
- Morgan Stanley
- Walt Disney
- Johnsons & Johnsons
- Procter & Gamble
- Deutsche Bank
- How are the placements and the average salary of graduates of the MBA in Marketing course?
All previous batches have more than 90% placements. The average salary of the 2020 batch was Rs. 8.57 lakhs per annum.
- Does this MBA in Marketing course have any partnerships with any big companies?
This program includes regular visits by industry speakers who come to lecture and interact with the students.
It also includes visits to McKinsey Capability Centre in Gurgaon, Hero MotoCorp office in Dharuhera, and Parle Manufacturing Center in Neemrana.
This program also includes partnerships with KPMG, Microsoft, L&L Partners Law Oﬃces, Siemens, Fraunhofer Gesellschaft, Intel, Sabudh Foundation, and Ativitti AI Technologies.