Should I Get A Master’s Degree In Marketing?
If you’re aiming to advance in your career in a very competitive business environment, a master’s degree in marketing is going to provide you with a solid educational foundation to get ahead. With a master’s degree, you learn advanced marketing concepts that will equip you to develop a marketing strategy that is effective in convincing your target clients to actually make a purchase. An advanced degree prepares students to deal with situations that are commonly faced by middle to upper level marketing managers. Most programs do this by presenting students with case studies about actual situations that managers have dealt with.
A master’s degree in marketing also covers topics that include consumer behavior, public relations, marketing consulting, sales and advertising, among others. Through the coursework given, students are able to identify potential customers for a particular product and gauge what their behavior is likely to be given marketing strategy. In addition, advanced studies in marketing will also enable aspiring managers to price a product appropriately and give them the skills so they can determine their possible competitors in the sphere.
An important component of a master’s degree in marketing is conducting research and crafting a thesis based on the findings of your research. Through this kind of activity, students are given the chance to perform actual research work so that they can make data-driven conclusions about their chosen topic. The knowledge and skill gained in being able to do research are things that marketing managers will find very handy during the course of their work. This is because the ability to make decisions on how a product must be introduced to the public, what pricing strategy to use and how to identify rivals in the space can only be done when they have sufficient data on hand.
Although widening your network of professional contacts should not be your only motivation for pursuing graduate studies, it’s a widely accepted fact that graduate school is where you form friendships that will be vital in your career. Thus, you should use the opportunity to go back to school to not only learn how to be a good marketing manager but as a time to forge and maintain networks that you could later rely on for professional growth in the industry.
Another reason why you may want to pursue a master’s degree in marketing is if you have an undergraduate degree in another area but decide later on that marketing is really your cup of tea. Not only will doing so give you the opportunity to apply for managerial jobs in marketing, you also have a higher probability of receiving more competitive pay—or at least, you will be able to use your different backgrounds as leverage for negotiating better compensation. For instance, let’s say you have an undergraduate degree in fashion design and pursue a master’s degree in marketing later on since you are exhilarated with the different kind of challenge and excitement that comes with selling things. You can use both degrees to your advantage when you apply for a marketing manager position at a retail chain.
You should also pursue a master’s degree in marketing if you intend to go to the academe and teach someday. In many colleges and universities, a doctoral degree is necessary to teach students but some will accept those with a master’s degree.