Marketing: Study Resource & Degree Program Information

General Information About Marketing Degrees

The goal of marketing is to determine how consumers combine information, what choices they make and how marketing can influence those choices. This evaluation of psychological behavior leads to developing strategy and creating mathematical models that represent consumer action. Marketing management uses the “marketing mix,” also known as the “four P’s,” to promote, price, place and produce things that consumers will want and buy. Strategic marketing determines how organizations can compete with others in the same market, while operational marketing implements plans to attract new consumers and keep old ones.

Marketing uses creative and analytical skills to solve problems and develop solutions that will profit the company and please the consumer. These degree programs mold students into leaders with management courses. General education courses are necessary in addition to some statistics, finance and computer science courses. Students will learn about advertising, brand marketing, market research, sales promotion and retail along with trend analysis and the growing e-commerce industry as well as product development, consumer decision making, pricing, global marketing and legal issues with marketing.

Other subjects covered in marketing major include buyer behavior, pricing policies, channels of distribution like retail and wholesale, product development, professional selling, marketing research, advertising, sales promotion and marketing management skills.

Earning A Marketing Degree Online

For some students, going back to school is difficult because of their location or other responsibilities, like holding down a job. Marketing degrees are available online and provide a more flexible way to earn a degree than at a traditional educational institution. Make sure the Association to Advance Collegiate Schools of Business (AACSB) accredits the online degree program first. An alternative learning method is to attend community colleges in the area that award associate’s degrees or transfer credit to a four-year university.

Bachelor’s Degree In Marketing

A Bachelor of Science or Arts in Marketing prepares students for entry level and management positions in marketing sectors. The curriculum focuses on understanding consumer behavior, distributing products, collecting and analyzing information about consumers for managerial decision-making, advertising and promotion and managing retail and wholesale operations, from conceptualization to execution, merchandising, branding and buying.

Master Of Business Administration In Marketing

For a focus on business with a marketing brand, ambitious students should learn more about business school and earning an MBA, or Masters in Business Administration. Degrees for MBA programs will include courses covering general aspects of business such as operations management, human resources and finance. However, MBA programs may offer a concentration in marketing and advertising, which can prove extremely beneficial in terms of getting a management or executive position. MBA program admissions require transcripts and test scores from the mandatory Graduate Management Admissions Test (GMAT).

Further Education In Marketing

While there are not that many schools that offer a Ph.D. in marketing, there are some notable exceptions. For example, Penn State has a program that works with graduate students that explores and researches three core areas in marketing: psychological foundations of consumer behavior, marketing models and quantitative methods, and marketing management and strategy. Each of these areas prepares the student for becoming a researcher.

Coursework In Marketing

The classes a student takes as a marketing major are part of an interdisciplinary program of business and social sciences. This means having a solid background in business courses like finance, international business, economics and accounting alongside mathematics courses like statistics and general psychology and sociology courses for measuring and determining human behavior.

Some of the coursework students are likely to take include basic marketing, professional selling, retail management, promotions and sales, market research, logistics and distribution, management in marketing and channels management, international marketing and business to business marketing.

Career Opportunities In Marketing

Marketing is one of the broadest and largest industries around. From small businesses to massive corporations, every company needs marketers to help promote and sell products. Advertising agencies, nonprofit organizations, insurance companies, consulting firms, consumer organizations, publications, labor unions, educational institutions, hospitals, credit unions and banks all need marketing specialists.

Management positions for marketing require some years of experience or a higher degree. Market research analyst, media buyer, sales promoter, media planner and public relations director are all positions that fall within the realm of marketing degrees. Since marketing is such an expansive field of study, there are tons of job possibilities available.

Advertising, promotions, marketing and public relations management and executive levels are the main jobs of interest for those with a marketing degree. Advertising managers supervise the copy, art and communication media for an advertisement campaign in a firm. Marketing managers create a marketing strategy with research to identify prospective markets and monitor trends. Promotions managers come up with ideas for purchase incentives, while public relations managers oversee public relations specialists and work on a specific industry or focus on using communication to alleviate public concerns about an individual or company.

Other careers with a degree in marketing include bank officer, inventory manager, consumer loan officer, credit analyst, retail storeowner, advertising copywriter, account representative, product manager, advertising account executive, securities broker and media analyst.

Earning Potential For Marketing Degrees

Due to the broad nature of a marketing degree, there is both room for growth and a demand for marketing professionals in every sector. According to the U.S. Bureau of Labor, a marketing manager earns a median annual salary of $87,640. Advertising executives and promotions managers earn an annual average of $97,540, while public relations managers earn around $82,180 on average. Managing a company entirely, such as marketing or advertising firms, can bring in up to $103,070, whereas working in a scientific or technical consulting firm earns $100,200.