Marketing Degrees

In order to understand the importance of a marketing degree, we first of all need to understand the following;

  • 1. What is Marketing
  • 2. Importance and role of Marketing in a business / Organization
  • 3. Advantages of getting a Degree in Marketing

  • 1. Let’s start with the first point. What is marketing? Marketing is a very broad based term. There are various definitions of Marketing and one of the definitions offered by American Marketing Association is as follows;

    “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational goals”

    In simple terms “Marketing is an art of selling products” However at the same time we need to understand that Marketing is not only about selling. Selling is only a part of Marketing.

    It is an Art that involves creativity, a science because it has logic involved with cause and effect relationhips. Marketing is one of the most vital areas in the success of an Organization. Every company or firm has a marketing department that takes care of the marketing functions without which a company cannot function.

    2. Importance and role of marketing in a Business/ Organization:

    It is the marketing department that decides the following key factors;

  • What is the product going to be like, i.e. what is going to be the final market offering and Brand name

  • Who is the product meant for? We cannot sell the product to everybody as each one has his / her own choices. Hence we have to select a particular segment in the market that we are planning to target – Target Audience

  • Which Markets are going to be the priority markets for selling the product? - Segmentation

  • What is going to be the unique selling proposition (USP) of the product – special characteristics of the brand that will differentiate our brand from others in the market – Positioning

  • Based on the customers that we are targeting, the product will be priced accordingly – Pricing

  • They decide various means of communications through which we can popularize our brand in liaison with the advertising agency – Advertising

  • These and various other important functions are looked after by the marketing department, which takes care of things right from the conception of the Brand to its final sale and after sales service. That’s the reason why a Brand Manager who looks after this is often called the “Mother of the Brand”

    These factors would often decide the success or failure of the entire business and is very crucial for a venture to be profitable. Hence a company is incomplete without its Marketing Department and it’s one of the most important / vital department or functional area.

    3. Advantages of getting a Degree in Marketing

    All the above points show the scope for Marketing. Since Marketing is a very crucial area and is required for almost all industries for all kind of products, there is a huge potential for students to specialize in marketing and build a career in marketing.

    There is a lot of demand in all Industries for competent Marketing professionals. A hard working competent marketing graduate can start as a Marketing Executive or a Brand Executive and reach at the top of the corporate ladder. Most of the General Managers, Head of the Departments in Marketing start their career at the executive level

    A marketing degree lays a foundation and equips an individual to a long-term career in marketing.