MBA Specialization Series: Marketing

Marketing as a concept is constantly evolving Today, one needs to know more about marketing than just the basics of the "four P's" - Product, Pricing, Promotion, and Placement. Moreover, in recent years marketing has become more of a science under the influence of the statisticians working at all the top business schools. Customer segmentation has reached new degrees of precision with use of sophisticated analytical techniques such as conjoint and cluster analysis. New positions such as "Chief Marketing Officer" are being created. The unprecedented growth of the internet in addition to the collation of databases covering detailed customer profiles, has led to the creation of increasingly sophisticated marketing tools that help companies gain the competitive advantage.

For that extra edge in the marketing world, an MBA in Marketing can do wonders for your career. Apart from the core subjects such as economy, strategy, and leadership skills, MBA in Marketing delves into development of consumer audiences, consumer behavior, market research, the analysis of demand, strategic planning, marketing campaigns, consumer relations, advertising, studying the market, cost volume and profits, and various other related topics.

Here are few top business schools in U.S offering the best MBA Programs in Marketing:

1. Stanford Graduate School of Business: With courses on Consumer Behavior and Persuasion, Stanford is just the right fit for you if you are looking for a career in marketing. The objectives of the Marketing Management course are to introduce students to the substantive and procedural aspects of marketing management and to sharpen skills for critical and analytical thinking and effective communication. The program aims to introduce students to marketing strategy and to the elements of marketing analysis: customer analysis, competitor analysis, and company analysis; to familiarize students with the elements of the marketing mix (product strategy, pricing, advertising and promotion, and distribution); to enhance problem solving and decision-making abilities in these operational areas of marketing.

2. Northwestern University Kellogg: Best known for their ever evolving curriculum, Kellogg School of Management (Northwestern University) keeps pace with the ever-changing business world. Kellogg has introduced more than 50 new courses since 1995. Marketing is one of the school's best-known strength, and much of the credit for that goes to Philip Kotler, who has written some of the best-known marketing textbooks in the world. The marketing faculty at Kellogg includes many other heavy-hitters who have distinguished themselves in their own right. Companies looking for marketing experts and brand managers recruit heavily from Kellogg School of Business.

3. University of Pennsylvania, Wharton: Wharton has one of the largest set of courses and faculty in Marketing. The Marketing major investigates the fundamental approaches to understanding markets, competitors, and portfolios of product offerings. It is popular for students interested in general management careers as well as in the media and entertainment field and management consulting. The Marketing program's flexibility makes it a good choice for a double major with Finance, Strategic Management, Entrepreneurial Management, or Operations Management. The Wharton Marketing Club aims to provide Wharton MBA students with the skills, knowledge, experience, guidance and support in their pursuit of marketing careers. The Club anchors the growing community of marketing students and alumni, providing a vehicle for continuous interaction. Marketing Club provides prospective students with the necessary information to help them make an informed decision about which program might best suit their needs.

4. Massachusetts Institute of Technology, Sloan: MIT Sloan is very strong in Marketing. Prof. John Little was one of the leaders in the field of marketing science. Sloan has a great class called Market Lab where students are able to work as consultants for leading consumer products companies. Samples of projects completed in the semester in 2009 included work with Estee Lauder, Reebok, Fidelity, HBO and Dunkin Donuts. There's also a market trek to visit companies in NYC and many students find internships and full time employment in marketing.

5. University of Chicago, Booth: Marketing is an exciting and dynamic area at Chicago Booth. The James M. Kilts Center for Marketing plays a pivotal role by promoting the development and recognition of marketing at the school. The Kilts Center for Marketing sponsors a wide variety of basic and applied research in marketing. Topics explored range from the determinants of consumer behavior and analytical models of marketing activities to pricing and consumer dynamics and determinants of brand shares.

This research is supported by visiting faculty and doctoral fellows. Top faculties from around the world spend time on campus and add to the academic discourse for which the university is famous. Doctoral fellows represent future marketing scholars and carry the Chicago Approach to top business schools around the world including Stanford, Wharton, London Business School, University of Michigan, and University of Toronto. The Kilts Center also contributes greatly to the examination of empirical and theoretical issues in marketing and economics. Each year, the center sponsors the Quantitative Marketing and Economics Conference which brings together researchers from top business schools and universities from around the country.

6. University of California, Berkeley, Haas: The marketing group at the Haas School of Business consists of leading researchers in the areas of Marketing strategy (theoretical and empirical), Quantitative behavioral modeling, and Consumer research. Faculty members investigate substantive issues such as pricing, market entry, distribution channels, e-commerce, consumer choice, role of emotions, and managerial decision making.

The Haas marketing group is widely recognized for its capability to create cutting-edge knowledge and new theories in the marketing field as well as its related fields such as economics and psychology.

7. University of Michigan, Ross School of Business: The Marketing Department at Ross is one of the top ranked in the world for the quality of its students and research. The diverse faculty and their expertise cover a wide range of concept related to marketing.

The full-time MBA Program in Marketing offers its students an extensive range of electives where they learn marketing concepts and develop valuable marketing skills via lectures, discussions, case studies, group projects and computer simulations. This helps students in gaining a broader perspective about brand equity, customer relationships, sales teams, distribution systems and pricing structures, and other key aspects of marketing. Thus, they prepare for successful careers not just in marketing, but also in consulting, corporate strategy, finance, human resources, operations management and entrepreneurship.

For specific information on each of these above programs, please visit the individual school websites. Our MBA admissions consultants can help you with your MBA admissions essays and overall application. Sign up for our free MBA admissions consulting here. Subscribe to our blog for the entire series and connect with us on Facebook / Twitter for all the latest updates on everything to do with your MBA application.

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MBA Specialization Series: Marketing

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