For a business to succeed, they must have an effective marketing strategy. Large corporations hire people who have a marketing MBA to help promote the company, and help them stand out from the competition.
What the Degree Entails
When you enter the program for a Master of Business Administration, you will have the option to select specialties. The marketing specialty gives you the skills necessary to take the company you work for through the ever-changing commerce environment. It is first necessary for you to take the standard MBA courses that will help you make the best business decisions possible. You will also develop skills to motivate other employees and utilize the diversity in the workplace to build a stronger company.
Other important aspects of participating in a Business Administration program include:
- Learn to use technology to create a competitive edge in the global setting
- Develop plans and evaluations to lessen the impact of risks
- Assess the company’s business plans and evaluate their relationship to their values
- Understand applications to use in business that are both theoretical and practical
Why is it Helpful?
Holding a Marketing MBA is helpful to almost all businesses, both small and large. The degree gives you the ability to think outside the box in coming up with strategies to assist with the growth of the company. Regardless of the size of the company, the economy requires a marketing plan. There are three distinct ways an MBA with a marketing concentration will help your future.
- Strategically – The business administration program helps you understand how to align the company’s business strategy and their marketing strategy. This will help you take the company further by meeting challenges and being prepared for the future.
- Quantitatively – You want a program that helps you take data and apply it to your company’s business strategy. Marketing MBAs will be helpful in showing you how to observe the market and make decisions based on your gut instincts.
- Innovative – You must be able to make innovative decisions that will propel your company through the market. The economy is harder than it has been, and only forward-thinking marketers will create a marketing solution to create an effective financial model.
What are the Benefits of Holding a Marketing MBA?
When considering whether to get a Marketing MBA, you will want to make sure it is worth the cost. The benefits of any degree start with job security, and a Marketing MBA is no different. Having tools and resources that make creating and analyzing decisions easier provide both the security you are seeking, as well as open up possibilities for job advancements.
In addition to the security, having a master’s degree will offer you the ability to have a higher salary than a simple business degree. You will also have the ability to major in other areas at the same time, so your education and worth to companies will be far greater. When your value increases, you are more marketable.
It is the goal of most Americans who attend higher education to obtain a job that covers the cost of living. On average, the cost of living in the United States is $50,000, and the potential salary of a Marketing MBA is between $57,000 and $74,000 (according to the US Census Bureau). This increased pay will help lower the stress levels in your family, which is a side benefit to the degree.
This degree is also one that will be needed in all fields, regardless of the direction the market goes. Understanding the market will put you at the advantage of being able to shift the company’s direction as the market shifts, and always staying one-step ahead of the competition.
Key Benefits of a Marketing MBA include:
- Ability to interact with a more diverse group of individuals
- Gain skills necessary to be a leader in the company
- Expand your skills in critical-thinking and communication
- Understand the market so you can tailor the financial plan of the company
Students who are truly successful in the marketing field are going to build a network that offers invaluable resources. Classes in the MBA program force you to work in groups and leave you with the skills to handle a business situation where differing opinions present themselves. This will benefit you when it comes to working with a company and needing to bring the entire company to the same page for advancement. This advantage will also come in handy if you desire to move up in the company or need to negotiate better deals on the company’s behalf.
A marketing degree is no longer just a degree to help you market the company, but it is also necessary to progress in the job market. Knowing the key concepts of what boosts a company in the financial field is a necessity, regardless of what industry you end up working in. A marketing MBA is a degree that can be used in hundreds of industries, allowing you flexibility in the job hunt.