The field of marketing focuses on directing the flow of goods and services from a producer to a consumer using various communication mediums. Marketing professionals research customer needs and promote products/services using different promotional techniques. Marketing is one of the few fields that open up opportunities in nearly every type of industry ranging from large government organizations to privately owned businesses.
Marketing is important for many firms due to increased level of competition in the global economy. Businesses are using different marketing approaches to attract consumers and acquire a large market share. It is important to communicate the benefits and value of product to help increase demand.
Role of Marketing in Businesses
Develop goods and services that satisfy consumer needs
Create a competitive business environment that increases efficiency and lowers product prices
Communicate the value of goods/services
Increase the market share
Marketing Masters Degree
Marketing is offered as a major academic discipline at post-secondary level of education. Students interested in joining the field of marketing must have a degree. The graduate program aims at providing students with a complete understanding of marketing theories, techniques, and practices.
The program will cover a range of business and management related subjects. This program is typically intended for students who have already completed their bachelor level education in the same or a similar field such as management. Students can also opt for masters’ degree in marketing online. There are a number of online business schools offering this degree.
What you will learn:
The curriculum of a masters’ degree in marketing entails general courses and electives. Students must complete all the course components. These subjects will cover all aspects of the field and help students build a solid foundation of knowledge. Here are a few sample courses along with their description
Marketing Strategies (2-3 credits)
In this course, students will explore different marketing strategies used by organizations. Topics such as target market, market research, product pricing, and marketing plan are covered in the course.
Consumer Behavior (2-3 credits)
This course focuses on the how consumers behave towards promotional strategies and goods. Students will learn how to influence behavioral aspects and design strategies that effectively attract consumers. Areas such as psychological influence are covered in the course.
Market Research (2-3 credit hours)
In this course, students acquire in-depth knowledge of how to conduct marketing research. Student will understand the value of research in the field of marketing, and how to use different qualitative and quantitative methods for research purposes.
Ethical and Legal Issues in Marketing (2-3 credits)
Students will explore the various ethical issues faced by marketing professionals in today’s complex integrated environment. The course will identify ethical frameworks and business concerns. It is important for all marketing managers to be well-aware of their cultural settings and legal boundaries.
This course will highlight the latest trends in electronic marketing. Students will learn about the emerging technologies and how electronic marketing campaigns are designed.
In this course, students will acquire a thorough understanding of production and operational techniques used in organizations. The course will include areas such as supply chain management, economics, and management.
Accounting and Finance (2-3 credits)
This course will shed light upon the basics of accounting and finance principles. Finance is an important part of the business field. It is important that students understand the basic financial operations of a firm, budgeting, techniques used, and how to perform basic financial statement analysis.
Business and Management (2-3 credits)
This course is among the most basic courses. It is designed to provide students with an overview of managerial principles. The course will cover areas such as management and will allow students to understand the need for effective management in modern-day organizations.
Multinational Marketing Strategies (2-3 credits)
This course will highlight the marketing strategies used in the global business environment. The course will cover areas such as international marketing, issues faced in international businesses, and research marketing.
Objective of Marketing Masters Degree
Students who complete a master’s degree in marketing will be able to:
Apply marketing skills and knowledge in organizations
Use various marketing techniques to meet an organization’s goals
Conduct effective marketing research using different qualitative and quantitative methods
Analyze marketing data and create marketing plans/campaigns
Acquire proficiency in different communication modes
Understand consumer behavior and cultural influences
Credit Hour and Duration of the Program
A master’s degree in marketing can be completed in two years. Some schools also offering masters programs that are accelerated, designed for students who wish to earn the degree in less than two years. To successfully earn the degree, the minimum credit hour requirement must be fulfilled. The duration and credit hour requirement may vary from school to school so it is recommended that you get in touch with the prospective school for more information.
The admission requirements may vary from college to college. However, you may need to fulfill the following general requirements:
Formal Bachelor degree transcript
Minimum 2.5 CGPA
A letter of recommendation
Submission of an admission application
What are the career prospects?
The increasing influence of the media in our everyday lives has led to an increased focus on marketing, and made this field one of the fastest growing in the country. According to the Bureau of Labor Statistics (2012), the demand for marketing professionals is expected to grow at the rate of 12% in the coming years. Marketing has become an important function of businesses in almost every industry. These professional have acquired a spot in the “Best Jobs” Rankings by US News & World Report.
With a graduate degree in marketing, individuals can look for work in many different organizations. BLS stated the annual median wage of marketing managers to be approximately $115,750 in 2012. The tasks of a marketing manager include:
Planning marketing campaigns
Negotiating marketing and advertising contracts
Conducting market research
Coordinating and managing marketing activities
Designing promotional plans for goods and services
Individuals can also advance in the field of marketing by acquiring certifications and credentials. The marketing field offers many dynamic career opportunities.
Frequently Asked Question(s)
Q:What are the contents of the course on Money & Banking in the online marketing master degrees?
A:The Online Marketing Master Degrees programs in United States have substantial understanding of the course on Money & Banking. This course is worth 2 credits in total. It is structured to provide students with ample understanding of the study and concepts of monetary economics and the systems of financial understanding. Students are also trained on the behavior of interest rates.
Q:After completing my master in marketing degree, what kind of job can i expect to get?
A:Master In Marketing is one degree which will open up a world of possibilities for you. Marketing professionals are needed in almost every field of life now, since they make it possible for goods to reach their specific market. From huge multinationals to government owned establishments, all need proper marketing professionals. So the possibilities are unlimited and quite lucrative as well.
Q:Can you tell me about the general subjects studied for master degree marketing?
A:Master degree marketing subjects include an in depth study of product management, advertising and business communications to prepare students with the growing challenges this field demands. The subjects can vary but generally they have to do with brand development, market research, marketing trends and ethics, branding, sales management and such topics.
Q:Is an online master degree in marketing considered credible?
A:Nowadays many students rely on online studies as it provides comprehensive courses in various disciplines for the convenient of students. Schools offering online master degree in marketing can be easily explored. You can also check the accreditation status and course outline before opting for one. An online degree can be as valuable as getting an on campus one provided you get the right school.
Q:I am already in this field but thinking of pursuing master in marketing online, what do you suggest?
A:Master in marketing online course can definitely help you grow in your career. It is a competitive market out there and to make it, one has to keep up with the pace of progress. It is essential to be updated and without further education you can limit your chances of growth. A masters degree can improve your academic qualifications and since it is an online degree it can be managed according to your convenience.
Q:Can you please tell me about the general coursework for online masters in marketing?
A:For online masters in marketing, which is usually a two year long graduate degree, students start off the academic coursework with subjects such as business communications, public relations, corporate responsibility, resource management, internet marketing and media production. Students also complete a thesis based research project under the supervision of their professors before the degree is awarded. The curriculum of this program will vary from institute to institute.
Q:Can you tell me how to become a marketing manager?
A:The minimum requirement to become a marketing manager is a bachelor's degree. The coursework may be in management, marketing, finance, accounting, economics, business law and the likes. A master's degree concentrated in marketing will improve your job prospects. Most employers may require 1 to 5 years of experience in the field. Prerequisites for employment vary from employer to employer.
(Source: US Bureau of Labor Statistics)
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