A Master of Business Administration (MBA) is a valuable degree across virtually all industries. Graduates can apply everything gained from an online MBA program — leadership, teamwork, communication, technical and managerial skills — on any job from day one. For marketing professionals who want to attract the attention of employers and boost their earning potential, an online MBA in Marketing can be an added bonus.
Being a marketing professional is more than being artsy and creative; there’s strategy to the practice of selling a product or service. Marketing has seven functions, and an online MBA can be a vital tool in your understanding of each area:
- Distribution — How a product or service will get to the intended consumers
- Financing — The capital it takes to create and market those goods or services
- Market research — The gathering of info to determine who consumers are as well as their buying habits and behaviors; this function also involves research on market trends and competitors
- Pricing — Determining how to set a price for a product or service
- Product and service management — Overseeing the product or service, listening to and responding to consumers’ wants and needs
- Promotion — Advertising the product or service and determining the appropriate method of promotion and marketing
- Selling — The last marketing function, which occurs once the previous functions have been properly executed and deemed to have met the consumers’ desires
An Intelligent.com article on the Highest Paying MBA Concentrations ranked concentrations pragmatically, based on the salaries of positions these programs prepare graduates for. The MBA in Marketing came in at number one due to marketing manager positions often being the best-paying jobs MBA grads are prepared to pursue.
The median yearly salary for marketing managers was $140,040 in 2022, according to data from the U.S. Bureau of Labor Statistics (BLS). And pay can be substantially higher in certain industries and regions, not to mention the bonuses, profit-sharing and other forms of additional compensation that companies may offer their valued marketing leadership professionals.
Taking classes online means you don’t have to quit your job or experience a loss of pay. If you need to juggle work, school and family obligations, an online MBA is the way to go. You can study from the convenience of your own home, a library or anywhere with an internet connection.
Courses in Northwest Missouri State University’s online MBA in Marketing are condensed into seven-week terms. The curriculum includes core classes (21 credit hours) in managerial accounting, managerial economics, business decision analysis, strategic marketing, contemporary business practices and issues, financial management and organizational behavior. The marketing concentration courses (nine credit hours) explore international business, advanced marketing communication and global marketing management.
Northwest Missouri State University’s online MBA in Marketing program offers multiple start dates year-round, and, if you begin now, you can earn your degree in as few as 12-18 months. Tuition costs are the same for in-state and out-of-state residents, and you can pay for each course as you go. Also, GMAT and GRE requirements may be waived under certain circumstances.
If you’re considering an online MBA in marketing, take note: Employers are looking to hire business school graduates, reports the Graduate Management Admission Council (GMAC). Of the U.S.-based corporate recruiters surveyed by GMAC in 2022, 94% expect to hire “newly minted” MBA graduates, up from 77% in 2019. Enroll today and join the vast network of marketing professionals with an advanced degree.
Learn more about Northwest Missouri State University’s online MBA in Marketing program.