Introduction MBA In Marketing: first of all MBA in marketing is a graduate degree. The topics covered in Marketing management such as advertising, branding, market research, marketing globally online. Marketing management means the activity in which we have to make the decision planning, organizing, staffing, directing, controlling in terms of the marketing concept.
Definition of Marketing: promoting interest among customers about particular goods and services and products is defined as marketing management in MBA.
- Indian Institute of Management (Ahmedabad)
- Indian Institute of Management (Kolkata)
- Indian Institute of Management ( Bengaluru)
- Faculty of Management Studies (New Delhi)
- Indian School of Business (Hyderabad)
- Indian Institute of Management (Lucknow)
- Xavier Labour Research Institute (Jamshedpur)
- Mudra Institute of Communication Ahmedabad (Ahmedabad)
- Management Development Institute (Gurgaon)
- SP Jain Institute of Management & Research (Mumbai)
MBA Marketing Curriculum:
The subject of MBA Marketing:
Marketing concepts, Marketing research, Marketing planning, Principles of Sales Management, Sales Forecasting, Marketing Segmentation, Marketing Evaluation, And Controls, Marketing Audit, Marketing Ethics, Advertising Management, Consumer Behaviour, Brand Management, Industrial Marketing, Business Communication, Project
Management Marketing In MBA, Business Laws, Research Methodology, Economic Analysis.
MBA In Marketing Skills: Interpersonal skills, strategic thinking, entrepreneurial skills, communication skills, leadership skills, negotiating skills. Let us discuss each of them:
- Interpersonal skills: qualities and behaviors nature etiquette that a person shows while with someone.
Interpersonal skills list in MBA Marketing:
2.Emotional Intelligence: controlling his or her emotions, the capability to control the emotions of other people is defined as emotional intelligence. The five main elements of emotional intelligence are as follows:
. Self-awareness is the ability to see yourself understandably and even-handedly through reflection and introspection.
. Self-regulation: the fact of something such as a company controlling itself without the participation of external agencies.
.Motivation: it is the process of stimulating the people to actions to accomplish the objectives on target.
.Empathy: the ability to appreciate and share the feeling of another.
. Social skills: communication in the form of verbal and nonverbal gestures, posture, body language, and our physical appearance to respond to other people.
. Communication: the transmission of information by speaking, writing, or some other medium.
- Reliability: the quality of being reliable and performing frequently well.
- Leadership: the action of a leading group of people.
- Positivity: the quality of having a positive attitude.
Job posts for MBA in Marketing:
Marketing Manager, Brand Manager, Business development executive, Asset Management, Corporate Sales, Market research analyst, Sales manager, Product Manager, Head of Digital Marketing.
MBA In Marketing Management Salary In India: according to pay scale MBA marketing manager can get an average salary of 752000 per annum.
Job Title: Market Research Analyst
Job Description: Responsibilities include assembling and examining market information. They devise strategies and methods for acquiring information. For example, leading internet, phone or post office based mail overviews, and direct promotion.
Average Annual salary is INR Rs 2,63,598 - Rs 1,226,014.
Job Title: Brand Manager
Job Description: They plan, create, and coordinate advertising campaigns for a specific brand or item. They track buyer and marketing speculation by investigating measurement for example deals, volume, piece of the pie, benefit projections, evaluation, dissemination, and seminars.
Average Annual Salary in INR is 3,48,823 - Rs 2,490,846.
Job Title: Marketing Manager
Job Description: Marketing managers are managing the creation, accomplishment, and executing advertising campaigns, to efficiently put in potential clients and retain existing ones.
Average Annual Salary in INR Rs 2,83,952 - Rs 1,658,850.
Importance of Marketing Management:
- Convince the requirement of shopper: in marketing management shopper requirement and desire is the easiest way to grow profits and sell more products and services. The definition of wish in marketing is finding what the consumer is needing. The marketing master plan looks to fulfill different requirements to get the purchaser to buy the product and services.
- Grow market share of the company or firm: Innovation is one method by which a firm can increase its market share. When a firm brings to market a new technology its contestants have yet to offer. Purchaser desire to own the technology but it from that firm even if they previously did the work with contestants.
- Grow the manufacturing of existing products:
. Understand how many products you need to manufacture daily to achieve shopper demand.
. Identify all the steps required to construct the product and the average time taken to complete each step.
. Identify how many people require action on the product.
. Redesign the construct action to support the number of people for action.
. Create a perfect layout to support this new way of business.
- Lift per capita income and demand for more products by the purchaser: per capita income does not reflect rising prices in an economy. For example, if per capita income rises from $50000per year to $55000 next year I would register a 10% growth in annual income for the population.
- Provide employment and hence fulfill social duty: marketing always tries to fill in the gap between demand and supply. If there’s a work opportunity marketing will market the products and goods.
Functions Performed In Marketing:
Planning: it is the process of deciding in advance what to do when to do, how to do, and who is going to do it. Planning flyover the interval between where we are and where we want to go.
Organizing: the foundation of effective authority and grouping the work of the enterprise among them.
Staffing: recruiting the employees on the basis of knowledge skills and educational background, learning.
Directing: instructing guiding counseling overseeing the work or advice given to the subordinates.
Controlling: it is the process of comparing the actual performance with the planned performance and taking corrective actions in case of any deviations.
Types of Marketing Management:
1.Paid advertising 2. Cause marketing 3. Relationship Marketing 4. Undercover marketing 5. Word of mouth 6. Internet marketing 7.social media marketing 8. Transactional marketing 9. Diversity Marketing