An MBA in Marketing & Advertising is a highly specialized degree that focuses on the management and administration of communicating with customers and clients. The goal is to improve marketing efforts, which involves increasing the sales of a company and its profitability. Hence, graduates look at communication, branding, public relations, advertising and market research. Additionally, they are experts in strategic planning, building campaigns, analysis of demand, consumer behavior, profit and cost volume.
What We Do
Those with an MBA in Marketing & Advertising can have any of a number of different careers. They can work as analysts, market researchers, public relations managers, branding specialists or social media marketers, for instance. Additionally, they can work outside of the corporate sector, such as in government or non-profit organizations. Alternatively, they can be self-employed. But all will have the same goal: bringing an idea out to the world and turning it into an established fact.
Why It’s Hot
According to the U.S. Bureau of Labor Statistics (BLS), Advertising, Promotions, and Marketing Managers earned $115,750 per year in 2012 and they are seeing 12% (average) growth between 2012 and 2022. However, these are often managers with a bachelor’s degree. As such, someone with an MBA in Marketing and Advertising could potentially earn more. Marketing and advertising will always be needed. It is also getting increasingly complex, which is why more advanced skills are needed.
Work Environment
People with an MBA in Marketing and Advertising can work in a variety of different fields. However, according to the BLS, most work in advertising, public relations and related services. Alternatively, they manage entire companies or enterprises, work in organizations relating to religion, grant making or professional or civic services, work in information or they work in retail trade. They are also found in other types of industries, however. For instance, they are found in technical and scientific services, wholesale trade, manufacturing and finance and insurance.
Essentially, marketing managers are needed in any firm, as they promote and advertise a brand, product or company. As a result, they also work side by side with top executives and they have to face a lot of deadlines, making the job incredibly stressful. Almost all of them work full time, with most of them exceeding 40 hours per week.
How to Do It
In order to earn an MBA in Marketing and Advertising, you will first have to complete a four year bachelor’s degree. A number of majors can fit in with the MBA, including marketing, advertising, public relations, business or administration. Most MBA programs have very strict admission criteria, including a need to obtain good scores on the GMAT exam. It is recommended, therefore, to prepare yourself properly by studying and gaining as much work experience that is relevant beforehand. Additionally, it is best to apply for a number of different schools, thereby maximizing your chances of being accepted somewhere.
One particularly good on campus program is the University of Missouri Harmon College of Business’ MBA Marketing concentration. This program is classed as outstanding, mainly because it has such clearly defined goals. It ensures all students gain real world experience and graduates are known for their personal confidence and high degrees of knowledge. The power is designed to empower graduates so that they are ready to take on positions of leadership.
MBA in Marketing & Advertising Online
- *Online MBA in Marketing – Villanova University – Choose the top ranked Villanova MBA and you can do more than expand your essential business knowledge. AACSB Accredited. Bloomberg Businessweek ranks the Villanova MBA #12 in the country. Ranked #1 on the list of Best Regional Universities in the North in 2015 by U.S. News and World Report.
- *Online MBA with Marketing Concentration – Washington State University – (Editor’s Pick!) – Earn your Online MBA from a highly-ranked university that was one of the first to offer its MBA in an online format. Examine advertising theory and practice and their role in business. Explore patterns of consumer behavior and the underlying psychology. Take an in-depth look at the guiding principles of international marketing. U.S. News & World Report has consistently ranked the WSU Carson College of Business among the Top 25 Best Online Graduate MBA Programs. WSU is also among two percent of business schools worldwide to achieve accreditation at the bachelor, master, and doctoral levels from AACSB International. Washington State is also featured as America’s best MBA degree in the 2017 rankings report.
- One really good online program is the California Intercontinental University’s MBA International Management and Marketing. This program is designed for those who want to increase their business acumen while at the same time combining this with a true passion for international business and global commerce. The curriculum looks at current business practices and how these impact on the various corporate partners across the globe. Graduates are true leaders who can take a business to an international and global level. As such, graduates are in very high demand with multinational companies, and businesses looking to expand.
- Another option is Tiffin University’s MBA Marketing. This degree focuses more specifically on market exposure techniques and practices, helping businesses increase brand awareness. It focuses on negotiating endorsements and sponsorships, which means graduates are ready to maximize the revenue potential of any business they work for. Additionally, there is a strong emphasis on international marketing.
Pros & Cons
Pros:
- They are better able to perform in a marketing and advertising world than someone with an undergraduate degree, mainly because their abilities, skills and knowledge are greatly increased.
- They have various secondary benefits, such as higher salaries and bonuses.
- There are more numerous career options and opportunities for advancement.
Cons:
- It can be quite costly, both in terms of time and money to obtain an MBA.
- The job is often stressful and requires long hours.
- The chance of burnout is high.
Financial Aid
- Marketing EDGE Scholarship Program – Scholarships for US residents with a GPA of 3.0 minimum, and who want to enter a marketing career. 24 awards of $5,000 each are provided.
- Adelante Fund – Various scholarships and awards for students of Hispanic origin in order to help them connect to Federal Agencies, Corporate America and top graduate schools.
- Chester Burger Scholarship for Excellence in Public Relations, an award of $1,000 to help students in public relations enter the corporate world, so that public relations are seen as more vital to businesses and public interest. The scholarship is funded by the PRSA Foundation, the Institute for Public Relations, the Arthur W. Page Society and various individual donors. Students must be enrolled in a graduate degree and have a GPA of 3.0 minimum. They do not have to be a member of PRSA and they can attend any university in the country.
- Bizshark Startup Scholarship – A scholarship for enterprising students who are encouraged to submit an essay for a chance to win a $1,000 scholarship.
- Acorn Equality Fund Scholarships, annual scholarships of between $1,000 and $4,000, which are non-renewable. Four of these are awarded each year to students who are of the LGBT community, or whose parents are.
Career Paths
- Brand Management: Graduates will work on developing true brand identity, which is something that is needed across all firms and organizations, whether they deliver consumer goods or services such as education and health. As a brand manager, you will build positive associations and name recognition. A number of fundamentals are involved in this, including positioning and strategic planning.
- Advertising: This is all about being incredibly creative, while also being effective. It is more than just creating a memorable TV advertisement or catchy slogan, however. Rather, it is about the strategies behind advertising, being at the heart of market research, managing the advertising program, repositioning campaigns, developing creative teams, purchasing ad space and more.
- Market Research: This is all about ensuring a product or service can be brought to the market. This is a time-consuming process, having to invest both time and money into finding out how customers or potential customers will feel about certain products. This involves every element of the product as well, from look to taste, to packaging and advertising materials developed to promote the product. As an MBA graduate, you will be able to develop and conduct this research, analyze responses, identify trends and more, all with the goal of increasing the market share of the company you work for.
- Online and internet marketing: some MBA programs are now focusing on this area of marketing in particular, emphasizing the importance of social media, multichannel marketing web analytics and more. This is hugely important in terms of increasing profits and staying ahead of the competition.
- Philanthropy: Some people who have an MBA in Marketing & Advertising use this to improve the world by focusing on a certain cause. This cause could be anything from education to animals. All philanthropic organizations need money in order to be able to do the work that they do. This means they have to make sure people continue to give donations, but also that they know how to spend this money properly. Someone with an MBA in Marketing & Advertising can touch on all these elements, understanding strategy, branding, messaging, positioning, finance and administration.
- Education: Schools and universities also need to market themselves. A school like Harvard is known all over the world not just because of its excellent quality in education, but because the world has heard of it. This is also what attracts high quality educators, as well as famous and otherwise prominent students. This is something that people with an MBA in Marketing and Advertising can achieve. At the same time, they may become educators themselves, teaching the next generation of marketing professionals. If they wish to do this at university, they will generally have to obtain a doctorate degree, although teaching opportunities in colleges may be open to them.
Further Reading
Suggested Websites
Six websites with helpful resources for those working in field relevant to an MBA in Marketing & Advertising:
