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Marketing management involves analysing, planning, implementing and controlling marketing programs to achieve organizational goals. It revolves around various strategies for marketing practices; it manages the various practices and techniques to deal with the customer’s demand.
It includes the process of planning and executing the conceptualization, pricing and promotion and distribution of specified goods, services and ideas for the target market and to meet customer and organizational demands and goals.
Besides, it helps businesses find a suitable niche so that they can work effectively on a small scale and expand with time.
The five central marketing concepts relating to customers include:
Marketing management acts as a very essential tool for achieving organizational objectives related to target markets. It helps in planning and executing marketing strategies, product formulation, pricing policies, and promotional activities of an organization.
However, the following points summarize the importance of marketing management:
Marketing managers use certain processes for optimizing marketing efforts from all aspects of the business model. The main processes involved in marketing management are as follows:
Marketing management revolves around various functions which help in assisting an organization to operate. Furthermore, these functions regulate all the activities of the organization and stimulate its working.
Here are some of the major functions of marketing management:
Course | Eligibility | Syllabus | Top Colleges |
MBA in Marketing Management | Bachelor’s Degree or equivalent in any discipline, GMAT/GRE scores valid for five years | International Marketing Retail Management Marketing Strategy Behavioural Science Marketing Research Financial Accounting and Analysis | IIM Ahmedabad Symbiosis Institute of Business Management SVKM’s Narsee Monjee Institute of Management Studies Amrita Vishwa Vidyapeetham, Coimbatore |
PG Diploma in Marketing Management | Graduation in any discipline from a recognized University | Foundations of Business Analytics Research Methodology Financial Market and Services Accounting for Managers Organization Behaviour Fundamentals of Marketing Sales Management Distribution Channel Management | Xavier School of Management, Jamshedpur S. P. Jain Institute of Management & Research, Mumbai Jaipuria Institute of Management, Noida |
Diploma in Marketing Management | Bachelor’s Degree in any discipline from a recognized University or H.S.C passed with 2 years of work experience | Management Theory and Practice Business Economics Financial Accounting & Analysis Information Systems for Managers Digital Marketing Consumer Behaviour | ISBM, Pune NMIMS, Mumbai LIBA, Chennai |
Source: National Institutional Ranking Framework
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Marketing managers are in demand not only in India but across the globe. According to the Bureau of Labor Statistics, the job prospects of marketing managers are expected to increase by 10% in the coming ten years. And there will also be more than 30,000 job openings in the coming year.
The scope of marketing managers is vast. With an increasing number of consumers, the need for the product or service is also increasing, requiring various marketing activities to satisfy consumers’ needs. And all the planning and control are conducted by these managers.
Also, a wide range of jobs in marketing management is available for individuals. Hence, if you want to make a career in the management field, then you must go with it.
Here is how you can start your career in marketing. These are the most in-demand jobs in marketing management that you can do after completing your studies:
A brand manager plays a vital role in the company’s growth by using customer reviews and taking steps to improve and uplift the brand’s reputation. It is important to differentiate a product from its competitors. Typically, this is done through advertising, design and events.
You must have strong leadership qualities and excellent communication skills. In addition, a good brand manager must have innovative ideas to help the company stand out.
The average salary of a brand manager is INR 12 LPA.
Market research analysts study market conditions and identify the needs of customers. They collect data using various methods such as public polls, customer reviews and surveys.
Furthermore, they evaluate the data using software and statistical techniques to interpret the needs and interests of the consumers. MBA graduates in the marketing field start earning well after completing their degrees in marketing.
If you want to become a marketing research analyst, then you must also possess outstanding communication skills and time management skills
The average salary of a marketing research analyst is INR 3.5 LPA.
They are representatives who interact with the customers to handle complaints, process orders, and answer questions. Usually, a customer service representative interacts with the customers through phone calls. However, some may also interact through email, live chat, and sometimes face-to-face.
A customer service representative must have communication and problem-solving skills. They should also know how to deal with difficult situations with patience and calmness.
The average salary of a customer service representative is INR 2.2 LPA.
There are immense possibilities in a marketing career. Students can find many job opportunities in multinational companies, banks, government sectors, educational institutions, etc.
The demand for undergraduate and postgraduate courses in marketing is at an all-time high. Its curriculum also helps students in acquiring executive and leadership qualities.
Marketing Management has immense importance in today’s world. It mainly focuses on current market dynamics, marketing plans and financially maximizing profit and productivity. Marketing graduates decide the growth and development of the company.
India is rapidly growing as a corporate hub. So, you can easily apply for jobs in marketing management like Brand Manager, Marketing Manager, Market Research Analyst, and Sales Manager in different companies. Also, you can set up your own business and start your entrepreneurial journey after completing the course.
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There are lot of marketing management career opportunities. Whether you have done an MBA, PGDM, or Diploma course, you will find opportunities in top MNCs, government sectors, banks, educational institutions etc.
After graduation, you can apply to some of the job positions such as:
Brand Manager
Rural Marketing Manager
Public Relations Manager
Social Media Manager
Digital Marketer
Marketing Management is a good career as there are immense opportunities for the students. It is a domain that never gets old and with the advent of online media, the scope of marketing has shifted to a whole new lot.
Marketing is a field whose scope is in India and globally. With a national degree, you can easily find a job abroad. The salary prospects of marketing graduates are also good.
Marketing graduates can find jobs not only in India but all over the world. Since the scope of marketing students is wide, they can find jobs in various industries, be it entertainment or education. The average salary of marketing managers can earn around INR 7.4 LPA, while the lowest salary is INR 2.4 LPA. As you gain experience in the field, you can earn more than INR 23 LPA.
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