MBA in Sales and Marketing
Overview of MBA in Sales and Marketing
The most important aspect of any business organization is to maximize sales. This is the most prominent way of earning profits. In order to maximize sales, the firm must devise foolproof marketing strategies to introduce its latest products to the target audience.
Due to the numerous career prospects in the market, the MBA in Sales & Marketing is one of the oldest management disciplines and one of the most popular among students. Every company, big or little, has a marketing department that can popularise the brand through activities like promotions, commercials, sales, media, and entertainment. As companies use the social media arena for brand promotion, a new field of marketing, known as online or digital marketing, has become popular with new-age students.
A Masters in Business Administration in Sales and Marketing equips one with all the necessary knowledge that they need to maximize the sale proceeds of a company and the right marketing strategies that must be adopted at the right time. An MBA program prepares one for the kind of experience that one needs before fitting into such an important position in any esteemed organization. An MBA in Sales and Marketing is the most popular course specialization at this level, seconded only by finance.
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Course structure of MBA in Sales and Marketing
Any specialized MBA program across the world is a 2-year (24 months) long course with four semesters. The various subjects that one needs to study throughout these four terms are listed below:
- Management concepts and organizational behaviour
- Managerial Economics
- Accounting for Managers
- Environment and Law
- Research Methodology
- Financial Management
- Marketing Management
- Human Resource Management
- Operations Research and Management
- Management Strategies
- Consumer Behaviour
- Marketing Research
- Industrial Marketing
- Logistics and Supply Chain Management
- Retail Marketing
- Rural Marketing
- Services Marketing
- Advertising and Sales Promotion
- Customer Relationship Management
- Global Marketing Project
*While the course structure and basic modules remain the same across all universities, the distribution certainly differs. We have only tried to present a rough overview.
Top Universities to pursue MBA in Sales in Marketing
Several universities across the world offer this course. Following are the best colleges for MBA in sales and marketing. We have only tried to limit our list to the top 10 marketing programs, in no particular order.
Stanford Graduate School of Business, Stanford University
The Graduate School of Business at Stanford University is undoubtedly one of the best business schools in the world. According to QS, It is ranked #1 for an MBA in Marketing. The average GMAT score required for consideration is 732, and the tuition fees are anywhere between $110,000 – $120,000.
Kellogg School of Business, Northwestern University
Ranked 14th by QS for an MBA in Marketing, Kelloggs is situated in Evanston, Illinois. The course duration here is 21 months, and the tuition fee range is $70,000-$80,000. Any incoming class at Kellogg boasts about 38% of international students. The school also offers several joint degree programs with Northwestern’s engineering, medical and law schools.
Anderson School of Management, University of California Los Angeles
Situated in the vibrant Hollywood city of Los Angeles in California, The Anderson School of Management, affiliated to UCLA, is ranked 15th by the QS. The program’s fee is more than $120,000, making it one of the most expensive programs in the world. The duration of the program is 21 months, and each incoming class comprises about 33% of international students.
ESADE Business School, Barcelona
The ESADE Business School in Barcelona, Spain, is a premier institute for an MBA degree in all of Europe. QS ranks it at the 13th position overall. The average GMAT required for applying is 665, and the duration of the program is 18 months. The tuition fee here ranges between $70,000 and $80,000. 94% of an incoming class in ESADE are international candidates making ESADE a truly global school.
Harvard Business School, Harvard University
The only Ivy-league school on our list, Harvard needs no introduction. Consistently ranked as the best university in the world, at present, QS ranks HBS at #4 for its MBA program. Harvard asks for a GMAT score of 730 or higher for the course, which lasts for a full 24 months. Harvard is an expensive school that charges upwards of $120,000 for its MBA program. 37% of the students in an incoming class at Harvard are international students. With a class size of 930, Harvard Business School is one of the biggest institutes in the world.
IE Business School, Madrid
Located in Madrid, Spain, QS ranks the MBA program here at the 9th position all across the world. The average GMAT score required for application is 685 or higher, and the tuition fee ranges between $80,000 and $90,000. The school asks for an average work experience of 7 years before application.
Kelley School of Business, University of Indiana at Bloomington
Ranked at the 38th position according to the QS world ranking, the Kelley School of Business required an average GMAT score of 675 for application. The tuition fee here ranges between $50,000 and $60,000. Kelley has a class size of 184, with 36% international students. The average work experience required is five years.
Ross School of Business, University of Michigan at Ann Arbor
Ross is best known for its signature seven-week program that challenges students to apply all that they have learned in class into solving a complex business challenge for a sponsoring organization. This program is called the Multidisciplinary Action Project (MAP). QS ranks Ross in the 20th position in the world. The duration of the program here is 20 months, and the tuition fee is greater than $120,000, making it one of the most expensive state schools in the world. The average GMAT score required for application is 720. 32% of students in a class of 423 candidates are of international origin.
Bocconi University, Milan
The SDA Bocconi School of Management is ranked 23rd globally and is the only 1-year long program on our list. Located in Milan, Italy, Bocconi charges $60,000 – $70,000 as tuition fee. The smallest school here with a class size of 93 only, SDA Bocconi has 74% international students. The average work experience required for application is five years.
Tepper School of Business, Carnegie Mellon University
Another extremely popular school on our list, the Tepper School of Business, is located in Pittsburgh, Pennsylvania. It is ranked 37th in the world by QS and charges a tuition fee above $120,000. The average GMAT score required for application is 690 and above. Tepper has a class size of 236, where 34% of the students are international candidates. The average work experience required for application is six years.
Scholarships for MBA in sales and marketing
There are numerous scholarships available for those interested in pursuing an MBA in sales and marketing. These scholarships are for students who cannot afford the tuition fees of the colleges. Scholarships are made to help the students financially.
- Ontario Graduate Scholarship
- Australia Awards Scholarship
- GREAT Scholarship
- Go Clean Scholarship
- Debesh Kamal Scholarship
- Forte Fellowship
- Hubert H. Humphrey Fellowship Program
- BrokerFish International Student Scholarship
- Heinrich Boll Scholarships
- MBA Entrepreneurial Scholarship
Jobs and Salaries after MBA in Sales and Marketing
Let us now find out the scope after MBA in sales and marketing. After finishing the MBA program from a distinguished university, you are bound to land a great job if you wish to enter the job market. The various positions that you can be hired for include:
- Media Planner
- Market Research Analyst
- Area Sales Manager
- Sales and Marketing Manager
- Brand Manager
- Business Development Executive
- Business Development Manager
Regardless of your position in the firm, your main task will be to analyze business analytics and conduct thorough market research to understand what kind of marketing strategies need to be adopted with the sole purpose of boosting sales.
The scope of an MBA in sales and marketing is vast. You can also work in a variety of industries such as banking, FMCG, tourism, hospitality, media, consulting, market research, and so on. Chief Marketing Officer, Marketing Director, Marketing Manager, Marketing Analytics Manager, SEO Specialist, Social Media Manager, and others are among the most popular Marketing job titles in 2021.
While the salaries received by each person is different and is loosely based upon the university at the time of graduation and the actual position and experience of the candidate in the field, starting salaries usually range between $120,000 and $145,000 based on the school.
Following companies employ students after MBA in sales and marketing:
- Bain & Company
- Goldman Sachs
- JP Morgan
- Morgan Stanley
- Walt Disney
An MBA in Sales and Marketing is the perfect choice for you if you happen to be someone who is immensely interested in business and the working of markets. This career has no end to the opportunities that it offers, and it can take you to great heights if harnessed properly.
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