Scope of MBA in Marketing
MBA is a general degree where any other people who have completed other professional courses can enter into an MBA. It is a managerial course which mainly explains the principles of accounting, economics, finance and marketing. Studying an MBA will help you to apply ideas from the classroom and gain exposure to an array of business functions. Graduates can learn from their classmates, develop potentiality and experience through group work and case studies. So let’s discuss the scope of MBA in Marketing.
It will help you to get into the competitive industries and secure an executive job. Some colleges help you to bring improve and bring out the entrepreneurial skills of the candidate. MIIM, Marian International Institute of Management craves the professional students to improve their entrepreneurial skills. They conduct competitions based on the business plan, advertisement and promotion plan to investors, customers and many more.
Marketing is one of the specializations provided by most of the colleges. Marketing has an important place in the field of business as it is a valuable advantage in attracting the changing behaviour of customers.
Who can join?
If you have knowledge in technical skills then you really need to get in for MBA marketing as it always adds value to your profile and if your interest in entertainment, media, promotion advertisement, sales and general management is the cup of your tea, you should join.
If you have excellent communication skills, influencing skills, convincing skills, market research, analytical and problem-solving skills, then you need to join.
Scope of MBA in Marketing
After completing MBA, the candidate is likely to be offered with many executive jobs like sales manager in reputed Fast Moving Consumer Goods, Retail, Tourism, Banking, Hospitality, Media, Advertising, Consultancy, Market Research, Digital marketing freelancer, etc. and many more.
You can also become lectures in prestigious institutions like Marian International Institute of Management, which is NBA certified.
You can even earn the following positions in the organisation, they are
- Marketing Manager
- Brand manager
- Asset manager
- Corporate Sales
- Media Planner
- Product Manager
For the second semester
INTRODUCTION TO MARKETING&CAPTURING MARKETING INSIGHTS
1.1 Marketing as the top line function in Organizations – New Marketing Realities – Company Orientation toward the Market place– Marketing Myopia – Marketing Management Tasks
1.2 Marketing as Creating, Communicating, and Delivering Value – Value chain – Customer satisfaction as the end of the value chain
1.3 Marketing Environment – Internal and External environment – Introduction to Marketing Research & Marketing Information System
1.4 Market Strategic Planning – Elements of Marketing Plan
- ANALYZING BUYER BEHAVIOUR & SELECTING MARKETS
2.1 Types of Consumer Buying Behaviour – Factors affecting Buyer Behaviour – Buyer Roles – Consumer Buying Decision Process
2.2 An overview of Organizational Buying Decisions
2.3 Segmentation, Targeting & Positioning – Strategies
2.4 Tapping Global Markets
2.5 Competitive Strategies for Market
- ELEMENTS OF MARKETING MIX 1 – PRODUCT DECISIONS
3.1 Product – Product Levels – Customer Value Hierarchy
3.2 Product Classifications – Product & Service Differentiation – Product Systems & Mixes – Product Line Analysis
3.3 Product Life Cycle Strategies – Illustrations
3.4 An overview of Brand Management – Co-Branding, Ingredient Branding
3.5 Packaging & Labeling Decisions – Warranties & Guarantees
3.6 New Market Offerings – New Product Success & Failure – New Product Development Decision Process – Consumer Adoption Process
- ELEMENTS OF MARKETING MIX 2 – DISTRIBUTION & PROMOTION DECISIONS
4.1 Distribution as a part of Value Delivery
4.2 Role of Marketing Channels – Channel Functions & Flows – Channel Levels – Channel Management Decisions –VMS & HMS – E-Commerce & M-Commerce
4.3 Introduction to Retailing & Wholesaling – Franchising – Teleshopping – Shopping through Internet 4.4 Communicating Value – Marketing Communication Mix – Steps in Developing Effective Communication Mix – Concept of Integrated Marketing Communications
4.5 Marketing Communication Mix Management – An overview
- MARKETING CONTROL – MODERN TRENDS IN MARKETING – CHALLENGES
5.1 Marketing Implementation & Control – Marketing Metrics – Marketing Audit
5.2 Future of Marketing – Emerging Trends
5.3 Marketing Challenges in Globalized Era – Impact of Digitization & Information Technology on Marketing – Marketing through Social Network – Nano Marketing
5.4 Green Marketing
- Kotler Philip, Keller Kevin, Koshy Abraham & Johan Mithileshwar, MARKETING MANAGEMENT a South Asian Perspective – Pearson Education 4th edition
- Ramaswamy V.S. & Namakumari S, MARKETING MANAGEMENT – Global Perspective, Indian context – MacMillan 4th edition
- Rajan Saxena – MARKETING MANAGEMENT – Tata McGraw Hill
4 th edition 4. Kotler Philip & Armstrong Gary, Principles of Marketing (15th Edition) – Pearson Prentice Hall
- Etzel, MJ, BJ Walkerand William J Stanton., Marketing (Fourteenth Edition).McGraw Hill, 2007.
- Neelamegham, S., Marketing in India: Text and Cases (4/e). Vikas Publishing House, 2012.
- Panda, Tapan K., Marketing Management: Text and Cases Indian Context. Excel Books Indi
For the 3rd Semester- There is mainly two subjects being taught?
Module 1 UNDERSTANDING SERVICES
1.1 Services Marketing – Characteristics – Tangibility Spectrum
1.2 Classification of Services
1.3 Services – Contribution to GDP – Generation of Jobs – Competitive Advantage
1.4 Services – Distinct Marketing Challenges
Module 2 BUYER BEHAVIOUR & SELECTING SERVICE MARKETS
2.1 Three-Stage Model of Service Consumption – Pre-Purchase Stage, Service Encounter Stage, Post-Encounter Stage
2.2 Customer Expectations & Zone of Tolerance – Determinants of Customer Expectations
2.3 Customer-Driven Services Marketing Strategies – Customer, Competitor, and Company Analysis
2.4 Managing Demand & Capacity
2.5 Segmentation Targeting & Positioning (STP) in Services
Module 3 ELEMENTS OF SERVICES MARKETING MIX
3.1 Inadequacy of 4Ps – Extended Services Marketing Mix 86
3.2 Creating Service Products – The Flower of Service – Service Product Development – Role of Customer in Value Creation
3.3 Branding of Services – New Service Development – Hierarchy of New Service Categories
3.4 Distributing Services through Physical & Electronic Channels
3.5 Pricing of Services – Cost, Value & Competition Based Pricing
3.6 Service Marketing Communications – Process – Services Marketing Communication Mix
Module 4 SERVICES MARKETING MIX AND SERVICE QUALITY
4.1 Process in Services – Service Blueprint
4.2 Crafting Service Environment – The Services cape Model – Dimensions of Service Environment
4.3 Managing People for Service Advantage – Cycle of Failure, Mediocrity & Success
4.4 Developing Customer Relationships – Wheel of Loyalty – Service Recovery
4.5 Service Quality – Measuring Service Quality – GAPS Model – SERVQUAL Model – Measuring & Improving Service Productivity
Module 5 APPLICATION OF SERVICES MARKETING FRAME TO SERVICE INDUSTRIES
5.1 Marketing of Tourism, Travel & Transportation Services
5.2 Marketing of Financial Services – Banking, Insurance, Mutual Funds
5.3 Communication & Information Services – Telecom, Postal, Courier, Cable TV Services
5.4 Marketing of Professional Services – Healthcare, Consultancy, IT, Promotion
5.5 Marketing of Educational Services – Charity & Social Services Marketing (The Application of services marketing theoretical frame is intended in this Module. Fieldwork and other Group Activities are strongly recommended for continual evaluation)
- Christopher Lovelock, Jochen Wirtz, Jayanta Chatterjee – Services Marketing: People Technology Strategy – Pearson 8e
- Harsh V. Varma – Services Marketing – Text & Cases – 2nd Ed. – Pearson
- Marie J. Bitner, Valarie A. Zeithaml – Services Marketing – Tata McGraw Hill
- Helen Woodruffe – Services Marketing – MacMillan
- Adrian Payne – The Essence of Services Marketing – Prentice Hall India
- Ravi Shankar – Services Marketing: The Indian Perspective – Excel Books, New Delhi
- Govind Apte – Services Marketing – Oxford University Press
- Rampal M.K. & Gupta S.L. – Services Marketing – Galgotia Publications, New Delhi
- Journal of Services Marketing – ISSN 0887-6045 – Emerald Publishing
- Baron S & Harrisk – Services Marketing: Text and Cases– Palgrave
Integrated Marketing Communications
Module 1 Introduction to Integrated Marketing Communications Marketing Communication:
An Integrated Approach – Characteristics of IMC campaign – Managing IMC Process: Planning an IMC campaign – Process of achieving integration – Integrated Marketing Communication Mix – Organisational approaches and barriers to integration – Value addition through IMC
Module 2 Advertising Strategies in Modern Marketing
Fundamentals of Advertising Campaigns – Brand Positioning through Advertising – Unique Selling Propositions – Brand Image Creation through Advertising – Types of Media & Advertising – Celebrity Endorsements & Ethics in Advertisement – Pros & Cons of Advertising
Module 3 Sales Promotion Strategies, Direct Marketing & Personal Communication Consumer Promotion – Elements – Trade Promotion – Objectives & Types – Exhibitions & Event Management – Creating Word of Mouth –Direct Marketing & its integration with IMC – Personal Selling – Database marketing – Managing Big Data – Promotion through Customer Relations
Module 4 Managing Integrated Marketing Communications Budgeting for Marketing Communication – Objectives of IMC Campaign: Objectives – Corporate objective, Marketing objective, Sales objective, Communication objective – DAGMAR approach – Communication Models – Budgeting for MARCOM – Steps in developing and evaluating effective Marcom – Objectives – Designing a Message – Copywriting – Measuring Communication Effectiveness, Conducting research to measure Communication Effectiveness.
Module 5 Promotional Agencies & Ethics in Promotion Advertising Agencies – Sales promotion Agencies – PR Firms & Interactive Agencies – Ethics and social responsibility in IMC Campaigns – Impact of technology on MARCOM – Introduction to International marketing communications, Relevance and challenges
- Kenneth Clow. Donald Baack, Integrated Advertisements, Promotion and Marketing communication, Prentice Hall of India, New Delhi, 2003. Mitchell, W. M. (2016).
- Advertising and IMC Principles and Practices. Pearson. Shah, D. (2009).
- Advertising and Promotions – An IMC approach. Tata McGraw-Hill.Shimp, A.
- Advertising, Promotion and other aspects of IMC (9 Ed.). Cengage.Shimp.A
- Advertising and Promotions – An IMC approach. Cengage Learning. Sirgy, R. (2001).
Scope of MBA in MIIM
The skills like excellent communication skills, influencing skills required for Marketing Manager, Brand manager Corporate Sales etc. can be improved through getting into a prestige college like Marian International Institute of Management. The experience in the college, eminent training sessions and expert talks help to improve our overall skills. Their management fest is conducted by the students of the college, both the first and second years.
Marian International Institute of management has a Marketing Club, Mercado, which is been conducted by the professor of college along with the students of MIIM. Every year various competitions regarding designing, advertising the marketing plan named as Ad-Mad Competition.
It is one of the real-time marketing contest which is conducted every year to familiarize the students with the challenges faced by the different marketing executives in promoting different products from different industry verticals. It is a 6 member team contest where we could act, make videos and make into an ad of 2 minutes. This year in midst of covid we could make this challenging competition fulfilled.
Participants gave their best in making the ads. They said it was a great experience for them.
This is one of the innovative ideas which came among from the students, where there won’t be a cashier for the shop and the person buying should pay the exact amount mentioned in the product. This is basically to improve the value of honesty in each individual on the campus.
MIIM experience is very alarming, the Out Bound training conducted by them to Munnar, the guides who guided was so amazing. Once a person who enters into MIIM family, they will never be parted by. So we hope this post cleared all your doubts about the scope of MBA in Marketing.
By Jeffy Jacob