Why MBA? Top Reasons Why You Should Do an MBA in 2024

In today's fast-moving business environment, staying ahead of market trends is the prime ingredient to success. An MBA in Marketing Management is the ultimate degree because of the tools it provides for mastering this highly dynamic landscape. This degree not only provides strategic insights and analytical skills needed to interpret evolving market patterns but also sharpens your capabilities in devising innovative marketing strategies for reaching target audiences.

Study the newest concepts in digital marketing, consumer behaviour, and brand management, and you will realise the importance of driving growth and adapting to the shifting industry. Want to manage a marketing team or lead a pioneering campaign? An MBA in Marketing Management prepares you with the knowledge and confidence to transform any market challenge into an opportunity that fuels your career to amazing heights.

What Makes an MBA in Marketing Management a Game-Changer?

The MBA in Marketing Management is a two-year, full-time postgraduate programme that aims to enhance students' knowledge in core discipline areas such as customer relationship management, organisational communication, competitive dynamics, branding, and consumer behaviour. This degree offers versatile career prospects by not only equipping a learner with theoretical knowledge but also practising in the same.

The structure of the programme can enhance the analytical ability and business acumen in students, developing a capacity to identify and assess global business opportunities and better understand how marketing operations are interrelated and interdependent. By focusing on empirical analysis and managerial expertise, the curriculum prepares future business leaders to excel in top management roles across diverse marketing domains, including digital advertising and social media.

Why is an MBA in Marketing Management a Good Choice?

• High Demand for Marketing Jobs

Marketing and sales roles are highly sought after due to their rewarding nature, with many professionals eager to enter these fields.

• Abundance of Opportunities

Companies regularly launch new products and enter new markets, creating numerous opportunities for marketing professionals to drive growth.

• Intense Competition

Despite high demand, the job market is competitive, with a large pool of candidates. An MBA can provide an edge over those without advanced qualifications.

• Lucrative Careers

Marketing positions often come with attractive salary structures and incentives, motivating professionals to excel and achieve higher performance.

• Globalisation and Career Growth

As global standards evolve, marketing remains crucial for relevance, and an MBA enhances career growth, offering advanced management roles and strategic impact.

Specialisations in MBA in Marketing Management

Here are some exciting MBA in Marketing Management specialisations that can best suit your interests and career aspirations. These specialisations enrich your expertise and open up varied, fulfilling job opportunities in the marketing field.

• Brand Management

Get into the art of building a solid brand and be ready to maintain it. You'll be able to build brand equity, manage portfolios, and connect rationally with the consumer. Brand management roles are oriented toward leading in the shaping of brand strategy and market position while driving consistency across all brand touchpoints. It basically entails growing brand equity, expanding market share, and improving consumer engagement.

• Digital Marketing

With the digitisation of almost everything today, this speciality now capitalises on online platforms and technologies in an effort to engage and effectively communicate with targeted audiences. These will cover SEO, social media marketing, content strategy, and data analytics. For digital marketing roles, these would include managing online campaigns, optimisation of SEO strategies, creation of content, and analysis of performance. These key result areas increase website traffic, generating leads, optimising conversion rates, and improving online visibility.

• Market Research and Analytics

This is a data-driven marketing-oriented market research and analytics specialisation. It teaches how to collect and interpret consumer data to make informed decisions. Various roles within this area will be oriented around market research, analysing consumer behaviour, and strategising companies with a basis in the data. Major responsibilities will include providing the right market insights, segmenting customers, and measuring the Return on Investment by using data analytics.

• Product Management

Worried about the whole cycle of a product, from concept to launch and beyond? Product management roles describe defining product strategies, managing development, and assuring market success. The key responsibilities involved are product innovation, achieved market adoption rates, and generated revenue for new products.

• International Marketing

Acquire knowledge of international marketing strategies, cultural know-how, and international branding. This would prepare you for any kind of job that involves a global outlook. Profiles of jobs would include market entry strategies, international branding, expansion into new markets, growing international market share, and adapting marketing strategies to diverse cultures.

An MBA within the Marketing Management programme offers one specialisation that has unique responsibilities and measurable outcomes. To this effect, while pursuing an MBA, it is vital to take a closer look at each of the available specialisations and find the one that best fulfils or will help attain the career goals and aspirations set in the dynamic field of marketing.

How Can You Pursue an MBA in Marketing Management?

• Full-Time MBA in Marketing

The full-time MBA in the area of Marketing Management is a two-year programme where students are required to be on campus for classes, assignments, and examinations. There will be broad exposure, knowledge, and hands-on experience through direct interaction with fellow peers and lecturers.

• Part-Time MBA in Marketing

The part-time MBA in Marketing allows students to do the programme within three years at their own pace. This is quite an ideal option for those professionals who want to really balance their current job responsibility with the pursuit of doing an MBA in Marketing.

• Distance MBA in Marketing

The Distance MBA Marketing courses in India are duly approved by the UGC and DEB, and the distance learning programmes are considered at par with the regular MBAs as far as employment in the government and the private sectors are concerned. Courses run for durations of 1 to 2 years, again depending on the institution.

• Online MBA in Marketing

An online MBA in Marketing becomes very flexible for working professionals to further their education without affecting their careers. It is an independent study method, the easiest of its kind, for people who want to upgrade their marketing skills from any place.

Industries Employing MBA Marketing Management Graduates

Every organisation requires marketing to sell its products or services. You have endless opportunities open for you in various sectors after you complete your MBA in Marketing. These include:

• Technology
• Healthcare
• Advertising
• Entertainment
• Finance
• Retail
• Gaming
• Education
• Telecommunications

Job Roles after MBA in Marketing Management

• Brand Manager

A Brand Manager is responsible for upholding brand integrity and values across all channels. They adapt brand strategies to target markets and ensure that brand values are consistently maintained throughout all marketing efforts.

Key Responsibilities

• Leading a team of marketing professionals focused on brand initiatives.
• Measuring and reporting on the performance of all marketing campaigns, evaluating ROI and KPIs.
• Overseeing both new and ongoing marketing and advertising activities.
• Ensuring brand campaigns are aligned with the brand’s strategic direction and tactics.
• Analysing brand positioning and consumer insights.

Salary: ₹8L - ₹22.6L/yr

• Sales Manager

The sales team is vital to a company's success. The primary responsibility of a Sales Manager is to ensure that the sales team meets its targets and achieves its goals.

Key Responsibilities:

• Recruiting, hiring, and training the sales team.
• Setting sales targets, evaluating the team's performance against brand goals, and adjusting objectives as necessary.
• Reviewing and assessing current team processes and procedures.
• Identifying opportunities for improvement and implementing necessary changes.
• Providing detailed and accurate sales forecasts.
• Promoting a competitive yet collaborative environment within the sales team.
• Evaluating individual performance through observation and measurement and recommending corrective actions when needed.

Salary: ₹6L - ₹14L/yr

• Business Development Manager

A Business Development Manager focuses on the growth and development of an organisation. They work to identify new business opportunities that can enhance revenue and improve the company's profitability.

Key Responsibilities:

• Identifying new markets for expansion with the emerging trends, customer segments, potential set of partnerships, and new products or services. Figuring out new ways of reaching existing markets.
• Building relationships with customers and clients to enhance loyalty and satisfaction.
• Formulating strategic thinking by understanding the broad business environment and creating goals for business development and improvement.
• Knowing the company's products or services inside out to participate actively in matters concerning their growth.
• Brainstorming with marketing teams to take their proposals and activities regarding promotions to a higher level of perfection.
• Finding new, imaginative ways of making the business more efficient in all areas.
• Keeping up to date with industry trends and the changing environment in which a business can adapt and remain competitive.

Salary: ₹6L - ₹12L/yr

• SEO Manager

A Search Engine Optimisation (SEO) Manager or Search Engine Marketing (SEM) Manager is responsible for overseeing and managing the brand’s paid campaigns on search engines.

Key Responsibilities:

• Researching market trends and generating comprehensive reports.
• Collecting and analysing data to inform campaign strategies.
• Designing and executing marketing campaigns.
• Managing and optimising campaign performance in real time.
• Identifying and implementing relevant keywords in website content.

Salary:  ₹5L - ₹10.2L/yr

• Email Marketing Manager

An Email Marketing Manager is responsible for leading and executing all strategies related to email campaigns.

Key Responsibilities:

• Identifying the target audience and working on expanding the email list.
• Designing and executing various email campaigns to capture leads.
• Creating email copy and developing mobile-friendly templates.
• Ensuring accurate and timely communication with clients.
• Minimising unsubscribe rates.
• Analysing email campaign performance and making necessary improvements.

Salary: ₹4L - ₹15L/yr

• Digital Marketing Manager

As a Digital Marketing Manager, you need to stay updated with the latest marketing strategies and tools. Your responsibilities will include managing digital marketing campaigns from concept development to execution.

Key Responsibilities:

• Designing and executing a comprehensive digital marketing strategy covering email campaigns, display advertising, and more.
• Designing, building, and maintaining the brands' social media presence.
• Campaign performance measurement and reporting.
• Identifying insights and trends and optimising brand campaigns accordingly.
• Elaborating and proposing some creative and innovative growth strategies.

Salary: ₹5L - ₹12L/yr

• Social Media Manager

Social Media Manager focuses on overseeing social media accounts across various platforms, including Instagram, LinkedIn, Twitter, and Facebook.

Key Responsibilities:

• Conducting research on trends and target audiences.
• Designing and implementing a social media strategy that aligns with business goals.
• Setting objectives and preparing ROI reports.
• Creating, editing, publishing, and sharing content on a daily basis.
• Monitoring web traffic and SEO metrics.

Salary: ₹4L - ₹7L/y

Over to You

An MBA in Marketing Management stands out as a pivotal degree due to its ability to equip professionals with essential strategic insights and innovative marketing skills. So, get ready to rule market trends with an MBA in Marketing Management at BML Munjal University (BMU) and take your career to great heights. Secure your MBA Admission today and step into a bright future of marketing leadership.

In today's constantly evolving world, an MBA is like a lifetime investment that would not only advance your career but also prepare you to tackle various challenges that come your way in the corporate landscape. For graduates seeking to expand their boundaries, it’s a powerful tool to sharpen skills, evolve into a visionary leader, and climb the managerial ladder with newfound expertise and confidence. And for those who have always dreamt of getting an MBA, this is a golden opportunity to realise their aspirations.

According to a recent BLS report, the demand for management analysts is expected to increase by 10% from 2022 to 2032, surpassing the average growth rate for all occupations. On average, approximately 92,900 positions for management analysts are projected to become available each year during this decade. A significant number of these opportunities are anticipated to arise from the necessity to replace individuals who transition to other professions or leave the workforce, such as through retirement.

With these promising trends in mind, it's clear that the demand for skilled leaders and strategic thinkers is on the rise. Let us examine some more compelling factors that will surely answer your question, “why MBA is important?

Why MBA is Important in 2024?

The following are the benefits/advantages of MBA:

Enhanced Job Prospects

This is one of the major reasons to do an MBA. Not all need to have a specialisation like – Engineering, Doctor, Chartered Accountant, or others. A simple graduation degree will only give generic jobs, and such jobs always have ready substitutes. There is no demand for generic profiles, and there is always a glut of supply.

More openings are available for MBA candidates than for the non-MBAs. MBA is one of the major preferences that draws recruiters’ attention. This is the norm, even in smaller companies. There are job openings where comparatively fewer years of experience are required from an MBA candidate for certain positions. This is indeed a high advantage and concretes the need for an MBA degree.

Improved Personal Branding

Alumni from top business schools are highly respected in corporate environments. This is because these prestigious institutions have long-standing histories and well-established brand identities. The MBA curriculum includes assignments focused on Business Model Analysis, which equips graduates with the ability to analyse information, numbers, and data to identify and mitigate threats to business models. These assignments foster strategic thinking, enabling students to design their own brands and business models.

Many MBA graduates have successfully launched startups that have grown into billion-dollar unicorns. Sage, a software research organisation, gathered data on billion-dollar startups and their founders' educational backgrounds. This research revealed that business school alumni are particularly successful. Notable examples include Blue Apron, a leading food subscription service, and Cloudflare, a web-based performance and security platform, both of which originated from business schools.

Opportunity to Acquire Managerial and Entrepreneurial Skills

There are many scenarios in the current era of digital startups that are fired up with the zeal of setting up their organisations. This becomes much easier if there is experience and background in working in the corporate sector. Additionally, an MBA degree helps in acquiring the technical and theoretical knowledge of subjects like Marketing, Human Resources, Operations, Project Management, and Channel Management.

The knowledge so built up comes to use when working and switching from one vertical to another. Only the skills need to be transferred across the organisation. A banking domain manager who understands business can easily take charge of a consumer goods company.

The typical Mechanical or Electrical engineer understands machine dynamics. There may be constraints in smooth customer negotiations and deal conclusions. This is where having an added MBA degree helps in a combination of tech and soft skills.

Networking Opportunities

An entry into the MBA programme gives the opportunity to be networked. Every MBA college has industry professionals, recruiters, top-notch managers, subject speakers, and new joiners in the corporate sector, etc. The Alumni of the majority of MBA schools are highly active cells. It is a source of guidance to old and new students.

The MBA degree has worldwide credentials. It is country-agnostic. Good managers can succeed in any environment and any country. It is very often seen that top heads of brand names in the USA, UK, Canada, etc., are from countries like India and China.

Access to Distance Learning and Online Courses

Many universities have the option of a part-time MBA. This is to help working professionals to have a scaled knowledge of their vertical domain. It also gives them the chance to apply for higher positions which sometimes get stymied on account of having a graduate qualification. Part-time MBA has flexible class timings, so that daily work schedule is not affected.

5 Most In-demand MBA Courses in 2024

1. MBA in Marketing

Why MBA in marketing is one of the most in-demand MBA courses in 2024 and in the coming years? Marketing is a specialisation that remains consistently in demand due to its significant impact on businesses. You become a future-ready professional by focusing on marketing analytics, marketing communication, digital marketing, sales and distribution, and consumer behaviour, you become a future-ready professional.

Social media marketing has emerged as a popular career path in today's digital era. With an MBA in Marketing, you can pursue various lucrative roles, including digital marketing specialist, marketing manager, market research analyst, social media manager, and more.

Skills Required:

• Strategic marketing
• Marketing analytics & data-driven decision-making
• Digital marketing & social media expertise
• Brand management & Customer Relationship Management (CRM)
• Creative problem-solving & innovation in marketing
• Marketing communication & persuasive storytelling
• Ethical & legal considerations in marketing
• Cross-cultural marketing and global marketing strategies

2. MBA in Business Analytics

An MBA in Business Analytics equips you with the skills and strategies to create data-driven business solutions. You will learn to process large datasets to achieve desired results, preparing you to tackle real-world business challenges. The programme covers R, Python, digital and web analytics, marketing analytics, HR analytics, financial analytics, Big Data analytics, and more, alongside traditional management subjects.

Skills Required:

• Data analysis and visualisation
• Problem-solving and decision-making in business
• Strategic thinking and business insight
• Communication and presentation abilities
• Leadership and teamwork capabilities

3. MBA in Finance

This MBA specialisation equips professionals with the skills needed to achieve an organisation's financial goals. An MBA in Finance offers a thorough understanding of financial analysis, planning, taxation, internal audit, treasury management, merchant banking, insurance, and risk management. Graduates with this specialisation are in high demand across various industries due to their extensive knowledge of financial principles, strong analytical skills, and effective decision-making abilities.

Skills Required:

• Financial analysis & valuation
• Financial modelling & forecasting
• Corporate finance & investment management
• Financial risk management & derivatives
• Financial economics & market analysis
• Financial reporting & regulatory compliance
• Quantitative & analytical skills
• Problem-solving and decision-making skills

4. MBA in Entrepreneurship

Entrepreneurship, often viewed as a solo endeavour, also demands effective management of a venture. An MBA in Entrepreneurship equips aspiring entrepreneurs with the necessary skills to thrive in their ventures or secure managerial roles in startups. Graduates can pursue promising job opportunities while also developing their own businesses.

Many MBA programmes offer entrepreneurship support cells and divisions where emerging entrepreneurs can present their ideas and receive university funding and resources to advance them. This specialisation can be highly beneficial for budding entrepreneurs.

Skills Required:

• Communication
• Strategic thinking
• Decision-making
• Emotional intelligence
• Creativity
• Data analysis
• Leadership skills
• Entrepreneurial skills
• Networking

5. MBA in Human Resources (HR)

Human resource management (HRM) encompasses a wide range of administrative responsibilities within a business, such as hiring and recruiting, retention and engagement, strategy development, compensation and payroll, and mediating between management and staff. HR managers are crucial in shaping organisational culture and work directly with employees to help them resolve workplace disputes, enhance communication skills, advance their careers, and achieve job satisfaction.

Skills Required:

• Strong Communication Skills
• Interpersonal Skills
• Problem-Solving and Analytical Abilities
• Business Acumen
• Ethical and Professional Conduct

Why MBA after Engineering?

Many engineers today choose to pursue an MBA after completing their engineering degree. But why MBA after BTech? An MBA can significantly broaden your career opportunities. As a comprehensive management degree, it can accelerate your progression up the corporate ladder. Additionally, it allows you to work in various industries, thereby expanding your long-term career prospects through enhanced knowledge and training.

Why is an MBA So Expensive?

MBA programmes can be expensive for a number of reasons, including:

• Programme experiences like study abroad trips, consulting projects, workshops, etc.
• School infrastructure, which includes the integration of the latest technologies.
• Renowned faculties who are subject matter experts in their fields.
• Collaborations with industry, alumni, and international institutions for student exchange programmes.

Highest Salary for MBA Professionals

The highest salaries for MBA professionals in India are typically observed in industries such as consulting, finance, investment banking, and information technology. Additionally, technology companies, particularly those in the e-commerce and software sectors, also provide competitive salaries for individuals with MBA qualifications.

In India, salaries for MBA graduates can vary widely, ranging from Rs 4,00,000 to Rs 32,00,000 per year. The specific salary is contingent upon the candidate’s field of expertise and specialisation.

Salary Ranges for MBA Professionals in Different Industries and Experience Levels in India

Long Story Short

The decision to pursue an MBA in 2024 is driven by a number of compelling reasons that extend beyond the traditional notions of career advancement. As the corporate landscape evolves, an MBA serves as a strategic tool to navigate the dynamic demands of the business world. From breaking entry barriers to ensuring continuous growth, an MBA qualification opens doors to diverse opportunities and positions individuals as valuable assets in the competitive job market. The programme not only imparts specialised knowledge but also hones essential soft skills, fosters confidence, and nurtures leadership and team-building capabilities. The global recognition, constant networking opportunities, and flexibility in learning further enhance the value of an MBA.

Most of the above-mentioned MBA courses are offered by BML Munjal University. The distinctive MBA programmes at the University emphasise practical, real-world experience. The comprehensive case-based and experiential curriculum at BMU's business school equips students with essential leadership and advanced management skills, forming a strong foundation for their future careers.