Masters in Marketing

What Do You Learn in a Masters in Marketing?

A Master of Science in Marketing may provide students with added skills and insight into the field of marketing beyond what students learn in a bachelor’s degree. Some students may decide to pursue this specific concentration after completing a degree in business or a related field.

Completing this graduate degree in marketing may provide students with new insights and innovations in the industry as well. Students may take a wide range of courses, including those focused on more specific concentrations within the field, including multicultural marketing or global marketing. Many focus on marketing research as another specific area. Students may find some colleges and universities only offer a general master’s in marketing, while others offer the flexibility to pick and choose courses that interest them.

Marketing Courses May Include

Students may take a range of courses as a component to a master’s degree in marketing. Some of those may include marketing research, marketing analytics, and marketing management. Some degree programs also offer a capstone project as the culmination of their education.

Completing a master’s degree in this area may provide students with a new set of skills or may enhance their education on various topics, including marketing tactics, planning promotional campaigns for various media forms, conducting optimization of campaigns, and conducting brand image research and development. They may also focus on digital marketing for organic social media, social media marketing, search engine optimization, and mobile marketing strategies.

The following are some of the courses students may take in a master’s degree in marketing though a wide range of options may exist.

Marketing Research for Managers

In this course, students typically learn about globalization, consumer values, and technology changes. The business of creating and sustaining value in the global market may also be included. This course often provides a foundation for further marketing courses.

Strategic Marketing

This course typically applies theoretical and applied approaches to marketing. This may be presented on multiple levels of organizations, from corporate to product. Contemporary marketing is often a focal point of this course, and a team based project is sometimes a part of the course.

Data Analytics with SAS Base

This course is typically designed to introduce students to analytics and their many applications in marketing. The use of different analytics tools as well as coding applications are a typical part of this course. Data acquisition, storage, and analysis are often covered as a part of this course.

Global Perspectives in Consumer Marketing

This course usually focuses on understanding and interpreting consumer behavior. Looking at various types of markets and how the consumers react to different types and styles of marketing based on culture, social class, and different age groups is often a part of this course.

Qualitative Methods and Consumer Insights

In this course, students are often taught about qualitative market research. Interpreting, conducting, and evaluating are all topics usually in this course. Students often conduct actual research and analyze and report on their findings.

R for Marketing Research and Analytics

This course generally covers how data analytics is changing industries. An analysis of case studies and examples may be used. Linear regression, logistic regression, decision trees, and factor analysis are often covered in this course.

Find Funding

Obtaining funding to cover the cost of a master’s degree in marketing may be necessary or beneficial to many students. Funding options range widely based on what the student’s needs are as well as factors such as what is available from numerous sources. NCES reports that the average cost of a master’s degree during the 2019/2020 school year was $19,792. There may be a few different ways to cover those costs.

Scholarships

One of the first steps many students may wish to pursue is access to scholarships. Scholarships may be available based on qualifications and selection. They may be provided by a number of organizations and typically require students to apply for them directly. The benefit to them is that scholarships often do not require repayment in many cases, though qualifications and restrictions may occur. It is typically work looking for marketing scholarships for masters degree students.

Federal Loans

One of the steps many people may wish to take to obtain funding for their college education at the graduate level is to secure a federal loan. These are loans backed by the U.S. federal government. As a result, they typically need to meet a wide range of requirements. Federal student loans for master’s degree programs are a bit harder to obtain than those associated with undergraduate students. However, some options may exist including the following:

• Direct Unsubsidized Loans: These are available to graduate schools and professional students. Unlike direct subsidized loans, which are made available to undergraduate students with demonstrated financial need, direct unsubsidized loans do not have a need based requirement. More students may be eligible for them.
• Direct PLUS Loans: These are made available to professional or graduate level students. They are designed to pay for educational expenses that are typically not paid for through other loans. Eligibility for these loans is often not based on financial need. However, some require a credit check to be performed, and borrowers may not qualify without meeting other requirements in some cases.
• Direct Consolidation Loans: These loans enable a student to combine all of their undergraduate and graduate level federal debt into one new loan. This consolidation loan is typically provided after a student completes their education.

Private Student Loans

Another option for covering the cost of a college education may come in the form of private student loans. These loans are from third party organizations not associated with the federal government. As a result the terms and conditions of these loans typically differ significantly from one provider to the next. Borrowers may wish to take a closer look at those conditions to be sure they understand the expectations of such loans.

Private loans may differ based on:

• Interest rates
• Qualifications (some require credit or work history)
• Forbearance access
• Consolidation limitations
• Refinancing rules

Is marketing manager a good career?

A marketing manager is typically a person that plans, directs, and coordinates the marketing policies of a company or a component of a company. They may work to determine the amount of demand for a product or service or that of its competitors. They may also work to identify potential customers, come up with pricing strategies to maximize the company’s profits, and oversee the process of product development from the view of marketing.

Some of the work a marketing manager may do includes identifying, developing, and evaluating marketing strategy, with careful understanding of the company’s objectives, market characteristics, and cost factors. They may also formulate and direct marketing activities and aid in the promotion of services or products. They may work closely with the advertising and promotion teams. Many times, they evaluate the financial aspects of a product’s development including working to develop a budget, researching appropriations, and the ROI of a product. They may develop pricing strategies and monitor customer satisfaction.

Daily tasks may include developing marketing plans and building strategies, directing sales, marketing, and customer service teams and activities, and working to evaluate a marketing plan’s success. They may analyze data to help with operational decisions or activities. They may also estimate cost or material requirements.

To work in this field, many employers require people to have at least a bachelor’s degree. They may need some experience in the field, a master’s degree, or other specific skills to qualify. Employees may receive some on the job training, but often skill is built in their degree program.

• Active Learning – Understanding the implications of new information for both current and future problem-solving and decision-making.

• Active Listening – Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

• Critical Thinking – Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

2020 Median Salary for a Marketing Manager

The following is the median salary for those working as a marketing manager in 2020 in each state, according to data from the Bureau of Labor Statistics.

Is market research analyst a good career?

Working as a market research analyst may enable a person to research conditions in various markets – online, local, regional, or national – to gather information for potential sales of a service or a product within those areas. They may conduct this research in the development of a marketing or advertising campaign, to gather information on competitors, sales, prices, and methods of marketing and distribution. They may also use search marketing tactics, use web metrics, and develop recommendations to improve target market access including through search engine ranking and visibility.

The work done by a market research analyst may include preparing reports with findings and data to translate complex data into usable details. They may conduct research on consumer opioids and marketing strategies, college data from surveys, opinion pools, or questionnaires, and collaborate with other marketing professionals. They may work to conduct research with statisticians, pollsters, and others in the field. They may measure and assess customer and employee satisfaction.

Day to day activities may include preparing research reports, analyzing consumer trends, conducting surveys within organizations or other groups, and establishing business management methods. They may also measure effectiveness of business strategies and practices.

Many companies expect those who wish to work as a market research analyst to have at least a bachelor’s degree, with some requiring several years of experience in the field. A master’s degree may be necessary in some cases. Some employee training may be done by the employer, but much of their skill comes from their education.

• Critical Thinking – Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

• Reading Comprehension – Understanding written sentences and paragraphs in work related documents.

• Writing – Communicating effectively in writing as appropriate for the needs of the audience.

2020 Median Salary for Market Research Analysts

In 2020, the following was the median salary for those working as a market research analyst in each state according to data from the Bureau of Labor Statistics.