Introduction
With demand for skilled professionals rising in India, an MBA in present times has become imperative for Professional growth. However, choosing an MBA course can oft become confusing. With several specializations available, you need to make a selection carefully. An MBA degree in Marketing is one of the most sought after main-stream courses.
Marketing is an essential part of any business be it a large corporate organization or a small-scale industry. Without adequate forms of Marketing an enterprise cannot strive to expand its business. This is where the role of an individual with a specialized degree in Marketing comes to play. An MBA in Marketing helps an individual develop insights about the Why’s and How’s of the market and consumer behavior.
What is Marketing all about?
Trade and commerce has been the backbone of any civilization. Selling constitutes an important part of commerce. The art of selling, hence is considered most important in an organization. Any product or service needs to reach the right consumer. The art of identifying the right consumer base and building a brand falls in the forte of Marketing. Working as a marketing professional requires you to build and promote a brand and help an organization to recognize consumer behavior and cater to their requirements among other things.
Key Characteristics of MBA in Marketing
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Program Duration
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2 years (4 or 6 semesters) for Regular Program
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Varies from a minimum of 2-2.5 years to a maximum of 4 years in Distance mode
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Varies from 1 year to 2 year for Executive Programs
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Eligibility
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Bachelor’s Degree in any Discipline
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Work Experience is required for Executive Programs
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Admission Process
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Entrance Exam + Group Discussion/Personal Interview
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Major Entrance Exams
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CAT, XAT, MAT, CMAT, SNAP
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Required Skills
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Mathematical Ability
Good Communication Skills
Analytical and Leadership Skills
Reasoning Skills
Problem Solving Skills
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What do you Learn?
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Market Research and Analysis
Selling
Pricing
Advertising
Product Designing
Presentation
Communication
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Program Fee
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4 Lakh INR – 20 Lakh INR
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Average Starting Salary
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2.5 Lakh INR – 10 Lakh INR
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Top Hiring Companies
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HDFC, IBM, Cognizant, Accenture, TCS etc.
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Who should opt for MBA in Marketing?
While an MBA in Marketing is open to anyone who wishes to pursue it, an MBA in Marketing is the best bet for people who are creative, have good communication skills and have an aptitude for human behavior.
Which are the best Institutes for MBA in Marketing?
Choosing the right institute is equally vital like choosing the right course. In India there are about 3900 Management Institutes in India. Some of the Top Institutes for MBA in Marketing are listed below:
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Rank
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Name of Institute
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Name of Marketing Course on Offer
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1
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Indian Institute of Management, Bangalore (IIM B)
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PGP Specialization in Marketing
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2
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Indian Institute of Management, Calcutta (IIM C)
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PGDM Post Graduate Program in Management – Marketing
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3
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Indian School of Business (ISB)
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PGDM Post Graduate Program in Management – Marketing Major
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4
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Indian Institute of Technology (IIT), Bombay
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Master of Management Program - Marketing
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5
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Faculty of Management Studies, University of Delhi
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MBA in Marketing
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6
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Indian Institute of Management, Lucknow (IIM L)
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PGDM Post Graduate Program in Management – Marketing Electives
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7
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Management Development Institute (MDI)
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PGDM Post Graduate Program in Management – Marketing Specialization
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8
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Indian Institute of Technology (IIT), Delhi
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MBA Specialization in Marketing – Department of Management Studies (DMS)
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9
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Loyola Institute of Business Administration, Chennai
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PGDM Marketing
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10
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Institute of Management Technology (IMT), Ghaziabad
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PGDM Marketing
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What are the Electives for MBA in Marketing?
At the beginning of the second year, a student has to select from an array of electives offered by their B-School. These electives cover a wide range of areas related to marketing. In the last few years with the advent of digital markets, digital marketing has also been added as one of the electives. The name of the electives may vary from institute to institute but can be broadly classified as follows:
- Marketing Research
- Consumer Behavior
- Marketing Strategy
- Marketing Services
- Product and Service Design
- Brand Management
- Digital and Social Media Marketing
- Analysis of Demand
- Marketing Campaigns
Course Delivery Structure
All major Management Institutes follow a similar course delivery structure. Method of education includes Lectures, Classroom Discussions, Individual and Group Projects, Paper Submissions, Case Studies, Quizzes, Internships – Industrial and NGO etc.
Which is better – MBA in Marketing or MBA in Finance?
This is a question often asked by MBA aspirants since both Marketing and Finance have stronghold when it comes to job opportunity. To pick the best one out of MBA in Finance and MBA in Marketing is difficult. While Finance is important to sustain a company, Marketing is the main support system of a company.
The best approach is to go for the course which resonates with your interest. For example if you have excellent communication skills and are good with people then Marketing is the right choice for you. MBA in Marketing involves travelling and is the right option for individuals with excellent people skills.
PGP Vs. PGDM
PGP stands for Post Graduate Program and is a full 2 year program offered at almost all B-Schools. PGDM is Post Graduate Diploma in Management and is just another name for PGP. There is no practical difference between a PGP course and PGDM course.
Further Academic Opportunities
MBA graduates looking for further study can always opt for a Fellow Program in Management (FPM) which is offered by all top management institutes in the country. It is a Doctoral program in Management and encourages young researchers to be innovative and hone their analytical thinking and problem solving skills.
Other than FPM Program an individual can also go for PhD in Management which is offered at Universities and IITs. An FPM program or PhD in Management paves way for a career in Research and/or Teaching. Average Salary for an Assistant Professor lies somewhere between 400,000 INR to 800,000 INR.
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