In today’s world, Marketing Management has become an indispensable part of the corporate world with companies using marketing techniques to analyse the target markets and growing customers through creating and delivering products and services of superior customer value. And, a good Marketing Management course teaches students how companies pursue, promote and position the products and services they are selling.
This Blog Includes:
- Why is marketing management important to business?
- What are the Key Skills for Marketing?
- Roles and Responsibilities in Marketing Management
- Requirements to Make a Career in Marketing
- Reasons to opt for Marketing Management:
- How to Make a Career in Marketing Management?
- Syllabus for BBA and MBA in Marketing Management
- List of Top Colleges Abroad for Marketing Management
- List of Top Colleges in India for Marketing Management
- List of Course Books for Marketing Management
- Career and Job Prospects
Why is marketing management important to business?
- The role of a marketing manager is to first and foremost make sure that the business is able to reach a wider audience. This means that they need to concentrate on the channel used. They are responsible for developing new ideas and techniques to help in reaching a wider audience.
- New products: It is important that there is some form of continuity in the products or services offered to the customers. One of the biggest roles of a marketing manager is to ensure that any new product or service introduced by the organization should suit the needs of its customers effectively while being able to attract more customers. The marketing manager should also be able to develop effective campaign strategies for promoting these new products and services.
- One of the major responsibilities of the marketing manager is to develop strategies that will help in increasing sales. This individual must identify new opportunities and be able to implement effective strategies to take advantage of them.
- The marketing manager should be able to develop programs that will increase profits by reducing costs. The marketing manager must also evaluate various marketing strategies and select those that will help in managing the budget effectively.
- Another important responsibility of the marketing manager is to maintain a positive image of the company in the eyes of customers and potential customers. By developing strategic plans, this professional should be able to build lasting relationships with existing and potential clients, vendors, and other stakeholders in order to keep up with the company’s growing reputation as a reliable organization.
- When it comes to the creation of public relations, the marketing manager is in charge of building a good relationship with media professionals who can endorse the products or services offered by the company. Apart from dealing with media professionals, it is also important for this professional to deal with different departments in order to create a positive image for the company.
- Growth in the firm’s reputation: Marketing managers are also responsible for developing an effective strategy for building the brand value of their organization. The aim should be to build brand awareness so that potential customers learn about their products or services and can make informed choices about what they want to buy.
What are the Key Skills for Marketing?
With marketing growing at an exponential rate, many students are considering a degree in Marketing Management. However, with popularity comes great competition and anyone looking for a career in Marketing needs to have specific qualities to stand out in the market.
Here are just a few of the most important skills that one should possess to be a successful Marketing Manager:
|Good Teamwork Skills||Adaptability|
|Malleability||Strong Attention to Detail|
|Good Public Speaking Confidence||Ability to Pitch New and Innovative Ideas|
|Commercial Awareness||Good Organizations Skills|
|Excellent Communication Skills||Creativity|
Roles and Responsibilities in Marketing Management
- Overseeing and developing marketing campaigns.
- Coming up with new ideas to make the consumer aware of their products.
- Devising and presenting strategies.
- Promotional activities overseeing.
- Writing and proofreading creative content.
- Organising events and taking feedback.
- Helping social media presence.
Requirements to Make a Career in Marketing
To pursue a course in Marketing Management, students have to clear an exam at the university or sometimes just apply. Like in India, you have to clear some examinations like:
Reasons to opt for Marketing Management:
Marketing is a broad subject that covers various aspects. It helps an organization generate revenue through the right promotion and marketing of its products and services to the right customers.
- The term marketing management is often misunderstood as a single function, but it is not so. It includes various functions that help the marketing department of an organisation to effectively reach out to the target audience and sell its product.
- While completing a marketing degree, students learn market research, public relations, advertising, promotions, direct marketing, sales promotion, services marketing and brand management.
- This kind, of course, prepares students for a wide range of careers in different fields such as banking, retailing and e-commerce. Here are some additional benefits of doing a business marketing degree:
- A diverse group of students: Marketing courses attract people from diverse backgrounds because it is one of the most popular courses in any institute or university. Students from all streams are encouraged to pursue this course since it is considered as an important element in almost all sectors of the economy.
- Different specialisations: Marketing courses are offered in four main areas – advertising and public relations (APR), sales promotion (SP), market research (MR) and market planning (MP). Students can opt for any one or more than one specialisation according to their choice
- Marketing management is a highly rewarding degree that offers various job opportunities and excellent wages. If you want to make money while doing something satisfying and challenging, then this might just be your calling!
Must Read: Types of Marketing
How to Make a Career in Marketing Management?
There are some basic laid-down methodologies on how to pursue a career in Marketing Management which is in fact, a booming industry to be a part of.
Have a High School Diploma
The further requirements change from companies to companies or even institutes to institutes. But, one thing remains the same, a high school diploma is required as proof of passing out of high school.
It is highly likely that the candidate didn’t have anything remotely related to marketing in his/her high school but good scores in English and Mathematics are important. Plus, if you go out to study, you should have some good grades in English along with the transcripts of an English Proficiency Test.
Obtain a Bachelor’s Degree
Some students decide to do only their bachelor’s degree and then go for other skilled-based courses and some decide to go to the higher level is MBA and also even do an Executive MBA. But, for the students who have done only their bachelor’s and are trying to enter the Marketing Management field then they should have a relevant Bachelor’s degree.
For all others, they should have a bachelor’s degree in any field but with a minimum described cut-off, usually, that is 50%.
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Complete an Internship in Marketing
It is a very important and rather overlooked step. A good internship in the Marketing field increases the chances of being accepted at a good university for post-graduation. Internships develop networking that is always helpful in the Marketing arena because you learn new cultures and methods before actually joining a job.
Obtain a Postgraduate Degree
This is a rather need-based step but getting a postgraduate degree in either MBA or MA always helps the slope of a career. Students prefer MBA over any other postgraduate course and then select Marketing as a specialization. But, you have to set your priorities straight as to:
- Where you are,
- Where you are standing,
- What you want to do
- And how you plan to get there.
Syllabus for BBA and MBA in Marketing Management
The BBA or MBA Marketing Management program is designed and regularly revised based on the latest industry trends and demands. The purpose of this course is to train students with an equilibrium of the theoretical aspect and the practical application of marketing. Each institution could have its own curriculum. However, some of these topics are still prevalent in almost all institutes. These topics are outlined below:
Syllabus for BBA
- Principles of Management
- Business Economics
- Marketing Management
- Computer Fundamentals
- Business Mathematics
- Financial Accounting
- Accounting Principles and Standards
- Communication Skills
- Business writing
- Consumer Behaviour and Demand Analysis
- Market Research
Syllabus for MBA
- Business Statistics
- Management Accounting
- Corporate Finance
- Managerial Economics
- Financial Accounting
- Marketing Management
- Consumer Behaviour and Market Research Analysis
- Competition and Strategy
- Operations Management
- Strategic Management
- Managerial Communication
- Effective Business Communication
- Managing people and their performance in an organization
- Managing Organizations
List of Top Colleges Abroad for Marketing Management
- Columbia Business School, Columbia University
- Alliance Manchester Business School, University of Manchester
- Imperial College Business School, Imperial College London
- Warwick Business School, University of Warwick
- ESCP Europe Business School
- EMLYON Business School
- HEC Paris
- EDHEC Business School
- Vienna University of Economics and Business, University of Vienna
- ESADE Business School
List of Top Colleges in India for Marketing Management
- All IIMs
- Xavier Labour Relations Institute
- S P Jain Institute of Management and Research (SPJIMR)
- Institute of Management Technology (IMT)
- Xavier Institute of Social Service
- MIT School Of Business
- Indian School of Business
- Faculty of Management Studies
- T. A. Pai Management Institute
- University of Petroleum and Energy Studies
- Symbiosis Institute of Business Management
- Guru Gobind Singh Indraprastha University
- Chandigarh University
- NIMS University
List of Course Books for Marketing Management
- Marketing Management by Philip Kotler
- The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk by Al Ries
- Principles of Marketing by Philip Kotler
- Marketing Insights from A to Z: 80 Concepts Every Manager Needs to Know by Philip Kotler
- Ten Deadly Marketing Sins: Signs and Solutions by Philip Kotler
- Good to Great: Why Some Companies Make the Leap… and Others Don’t by James C. Collins
- The Art of Social Media: Power Tips for Power Users by Guy Kawasaki
- Business Adventures by John Brooks
- Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael E. Porter
- Marketing Warfare by Al Ries
Career and Job Prospects
Companies always have a high demand for marketing professionals who can solve complex marketing issues, develop sales strategies and come up with new and innovative ideas to promote a product or service. In fact, a lot of companies offer special marketing training programs for employers to provide hands-on experience in the field. Let us explore the different areas of Marketing Management:
- Marketing Manager
- Marketing Research Analyst
- Advertising Manager
- Promotions Manager
- Social Media Manager
- Product/Brand Manager
- Media Planner
- Sales Manager
- Public Relations Specialist
- Meeting/Event Planner
- Marketing Coordinator
- Customer Service Representative
- Marketing Analysts
- Consumer Behaviour Analysts
- Sales Representative
Brand or Product Manager
- Big companies or rather “brands” hire marketing officials for advertising and promotional activities. In this, the marketing managers usually start as assistants or junior-level managers, market research analysts or sales representatives.
- Highly skilled marketing specialists who have good analytical abilities as well as possess the power of persuasion are preferred for this job.
- Fresh graduates can start their own Event Management company or work for an already established one. Usually, this field has people with knowledge of Marketing Management hired on a contract basis.
- A few of the prominent responsibilities of an Event Planner include organising weddings, alumni gatherings, press conferences, or any other shindig that requires order and decorations.
Market Research Analysts
- Marketing students with a strong interest in quantitative, analytical and research aspects related to a job can look into this field. A Market Research Analyst carries out assessments of consumer reactions to new products or services through surveys and feedback.
- Moreover, analysts gather and interpret the data which in turn helps other officials to devise strategies for the products further. They are well versed in market behaviour and understand the demographic condition adequately to carry out research.
Public Relations Representative
- Marketing managers analyze consumer behaviour and pattern and they know enough to be associated with the demographic. The main goal of Public Relations is to create and maintain a positive reputation with the public. The public can be:
- Normal public or consumers,
- Media public,
- And self-help groups working in society.
- Students with Marketing Management degrees are well-equipped with strong journalistic writing skills that are well-suited for the Public Relations job that usually would involve getting involved with the media public or a large group of clients.
- The ultimate goal of all marketing is to improve the profits of a corporate. The most important way to do it is by increasing sales. There are many sales jobs open in a corporate for every and any degree holder. If the candidate wants to mix and match stuff they can apply for the sales representative job too.
- Marketing majors can also use this post as a benefit to them as they can understand and improve customer relations, know the demographic and make effective sales pitches.
- In today’s time where most of the corporate work is done through online platforms from filling out surveys or feedback forms to delivering products or services or even studying academic programs too, there is a crucial need for someone to manage and advertise the content on these platforms. That’s when marketing managers come into play.
- Social media managers advertise their products on platforms like Facebook, Instagram, Twitter, Pinterest, etc. The managers should have a good knowledge of online platforms and the demographic that every platform attracts.
Must Read: How to Become a Marketing Manager?
Salary is a key barometer for career growth and development. In the marketing management field, the increase in salary figures can be realized as you gain experience. The salary bifurcation that is offered to graduates in marketing management, in general, is as follows:
|Experience Levels||Salary (in INR per annum)|
|Freshers||2.5 – 7 lakhs|
|Mid experienced||3.5 – 10 lakhs|
|Experienced||4.5 – 13 lakhs|
|Late- Career/ experts||5.5 – 17 lakhs|
Top Recruiters for Marketing Management
For marketing professionals, there are many opportunities to work with reputable brands with a highly sought-after employment profile. Here is a list of some of India’s most innovative, largest and best marketing companies where a job opportunity can be a better stepping stone to career growth:
- Colgate Palmolive
- Maruti Udyog
- Mahindra & Mahindra
- L’Oreal India
- Johnson & Johnson
- Bharti Airtel
- Hindustan Unilever
- Sony India
- Vodafone Plc.
- Tata Motors
- Hero Motor Corp
- Goldman Sachs
- JP Morgan
Marketing managers plan and execute marketing campaigns to increase awareness of and demand for products and services. This broad definition can include a wide range of activities such as marketing campaign design, management, and evaluation. Managing the social media engagement strategy.
Marketing management is a good career choice if you want to use your creativity and people management skills to make a difference in a company. Marketing executives connect a product or brand to the rest of the world. Their marketing abilities aid in attracting customers through various media channels.
Based on some of the highest-paying marketing/advertising jobs, marketers can easily earn over $140,000 per year without a graduate degree, indicating the potential for high pay in this field. The range, however, is quite broad, with some marketing and advertising jobs paying around $60,000.
Marketing Management degree holders get entry-level jobs in companies in most cases unless they have done their Master’s from a very reputable business school. Want to get into your dream university abroad? Talk to our experts at Leverage Edu, who can help with your application process, SOP, visa, accommodation and a lot more.