MBA in Marketing in 2021: The safe path vs new possibilities
Author and former management professor Michael LeBoeuf had famously observed that a satisfied customer is the best business strategy of all. Really, the idea is still so foundational to all businesses that success more or less depends on customer experience.
Students are taught how to curate the experiences of the customer in MBA in Marketing courses. It is one of the most popular management specializations to ever exist. In recent times, the field has become so diverse that many sub-specializations have also started to exist.
MBA in Retail Management and MBA in Digital Marketing are two offshoots of Marketing that have become areas of independent specializations. So the big question today is whether to go for the advanced courses or stick with good old marketing courses.
MBA in Retail Management
- A world of changes
If you look around, it is not that hard to see the changes that the retail world is going through. From local shops to mega-marts to shopping malls, the businesses that create the best retail experience take a major chunk of the profit pie.
Online shopping has also seriously transformed retail, as new tools and techniques are required to meet consumer needs digitally. An MBA in Retail Management trains you to deliver the best retail experience to customers, even as fast-paced changes take place.
- High demand in the job market
This world of changes has resulted in a surge of demand for professionals with highly specialized knowledge in retail management. Due to this high demand, MBA in Retail management students will find it easy to get a job after graduation.
While the demand is high now, it will likely stabilize in 10 – 15 years, but people who join the workforce now will be in a better position in the industry. In that sense, the next 7-10 years are the best time to join the market.
MBA in Digital Marketing
- The Indian internet is huge
This field has developed exponentially with increasing internet access in India. With over 500 million Indian users on the internet now, most companies are aware that they can reach a significant section of their customers or potential customers on the internet.
MBA in Digital Marketing students are trained on how this large Indian presence on the Internet can be used to take products to customers. The number of users is set to grow as the cost of access falls further, indicating a huge possibility for potential employment in this field.
- Experiencing innovation
Digital marketing is a dynamic field that is undergoing changes every day. The use of new tools and techniques to reach consumers on the internet is on a high. There is innovation at every step after doing MBA in digital marketing, especially if you can creatively strategize the brand’s online presence.
To be able to work at the first line of innovation in online marketing is exciting and challenging at the same time. But if you can live up to that challenge, then the rewards are many. In fact, small brands turn out great profits through digital marketing. So, even if you work in a start-up, the financial rewards will always be great.
MBA in Marketing
Unlike MBA in Digital Marketing or MBA in Retail Management, the approach in MBA in Marketing is much broad in scope. It is the master discipline from where new specializations have emerged. You will cover some aspects of Digital Marketing and Retail Management, but not in such great depth.
It is possible to get into both Digital Marketing and Retail Management after doing an MBA in Marketing. But you have to either be a trainee or in probationary positions first before you can fully break into a full-time position. So it will take more time to find yourself settled in these fields with an MBA in Marketing.
But MBA in Marketing will allow you to explore various other opportunities in the field of marketing. It includes traditional marketer roles with established companies, where in spite of the presence of high competition, there are still great possibilities. So, MBA in Marketing would also be perfect, especially if you’re not particular about a domain, and want to explore more possibilities.
It is true that both have their attractions and students find it hard to choose among them. Some feel that taking the traditional route into Marketing is a safe choice. While others feel that now is a good time to enter a hitherto unsaturated job market through advanced specializations. Whatever you chose, if you go to the right institute, your possibilities increase automatically. The institute is always a crucial building block that supports every successful career.