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Why MBA in Digital Marketing is the in-thing right now

Praqtise — Fri, 09 Sep 2016 15:11:34 +0000

“MBA in marketing: The rise of the Digital Managers”

*dhum* *dhum*

“Is Tony home?”

The door creaked open just as we reached forward for the fourth time to knock in frustrated impatience. An old lady, wrinkled beyond recognition, opened the door. She leaned forward, squinting through her thick spectacles at us, her mouth half open in confusion.

“Hello, Aunty. We are Tony’s friends. Is he at home?”

Without a word, she walked us towards the basement staircase. We ventured down into a smelly room, lit only by strings of LEDs scattered all over the room.

At the end of this room, littered with cardboard boxes and action figures, sat the silhouette of Tony. The outline of this black figure was illuminated by the glow of the desktop screen and adorned by headphones.

We remembered Tony very well from our college days. However, while we ended up in the corporate warehouses, Tony disappeared into the darkness of his room.

After a few months of toiling, we heard about Tony during a meeting with our CEO.

“This guy knows his stuff. Be wary of the way you approach him. Before you go, understand that he has more control over you than you might realize.”

There stood one of the prototypes of the digital generation, with headphones adorning his head like a crown. The king of a digital empire that was vaster than any corporation or company could dream of. The digital manager of the new era chose to step down into the offline reality to help us create our own kingdoms!

The rise of online business platforms is pointing towards an increased interest in the process of digital marketing. Now, people like Tony wield the power of digital marketing and use it to create vast digital empires. The conceptual and practical interest in the nuances of Search Engine Optimization, Link Building and other elements of Digital Marketing is driving this new era forward.

In this world of opportunity and risk, MBA graduates are looking for an extra edge over the corporate wilderness. Gone are the days when companies and corporations were the only havens for individuals who had an MBA degree. As the digital world opens its arms to receive everyone who is willing to explore it, MBA in marketing becomes a preferred key to the kingdom. A whole new world is now open for MBA graduates, where there are no boundaries and limitations to what one can achieve.

Planned digital marketing budgets of UK marketers

MBA in Marketing: The Art of “Managing” Online Realities

Today, we can observe a general tendency amongst students to break free from the usual definitions of management. In its undiluted form, the core of management involves building powerful relationships with people and entities. In most management scenarios, building bonds with the stakeholders of the organization, adding value to the services and products offered to customers, and helping employees realize their needs and aspirations is a part of the job description.

As far as MBA in marketing is concerned, we see numerous areas where the knowledge of digital marketing can prove to be highly beneficial for managers. For instance, managing stakeholder interests and maintaining proper relations with them is akin to the practice of link building in the online domain. Enough work experience in terms of managing stakeholder relations can help any MBA aspirant appreciate and utilize the power of backlinks. Whether it is the online or the offline realm, creating proper relationships with one’s consumer base and adding value to one’s product or content is equally important. This is where aspects such as content marketing and social media marketing hold considerable significance as far as creating one’s own online reality is concerned.

The mind of a digital marketer

Digital Marketing and Management: A Potent Combination

The areas where management theories coincide with marketing practices are numerous and vast. MBA in marketing is an integral step for understanding how digital marketing and management are closely tied together. Management is a potent medium for creating and implementing growth systems to aid in the development of companies. However, MBA in marketing, especially in the realm of digital marketing, requires a more personal and customizable touch. Marketing can also help in understanding the needs and requirements of the customers, so that the level of satisfaction and loyalty in the company is maintained.

PRAQTISE Fact File: Numerous MBA-startups are waking up to the immense potential of digital marketing. Take a look at this statistic: a survey found that CMOs of several companies are planning to increase their spending on digital marketing by 14.7 % in the period of one year. The total spending on social media marketing is also expected to rise from 9.9 % of their total marketing budget to 13.5 % in the next year, and up to 22.4 % in the next five years.

With the immense functionality that the digital medium offers, managing one’s website or blogging platform has become easier than before. An MBA graduate with experience in digital marketing can design, develop and manage his/her virtual space. In other words, MBA entrance exams for such individuals can be an important step to leap into the digital sphere. At the same time, by combining a degree in management with a digital marketing degree, one can understand the usage of several important tools and software which are elemental in the development process of digital platforms and websites.

Top B-Schools Fusing Marketing and Management

Institute	Course
IIM, Ahmedabad	PGP Specialization in Marketing
IIM, Bangalore	PGP Specialization in Marketing
IIM, Calcutta	PGDM Post Graduate Program in Management – Marketing
Indian School of Business (ISB) Hyderabad	PGDM Post Graduate Program in Management
IIT, Bombay	Master of Management Program – Marketing
FMS, Delhi	MBA in Marketing
IIM, Lucknow	PGDM Post Graduate Program in Management –Electives
Management Development Institute, Gurgaon	PGDM Post-Graduate in Management – Marketing Specialization
IIT, Delhi	MBA Specialization in Marketing – Department of Management Studies (DMS)
IMT, Ghaziabad	Post Graduate Diploma in Management (Marketing)
XLRI, Jamshedpur	Post Graduate Certificate in Sales & Marketing Management – PGCSMM

The scope for growth and development that MBA-backed entrepreneurs have is vaster than we think it is. As more and more individuals leap into the digital wilderness, one cannot help but wonder about a particular question.

Will the increased focus on digital marketing lead to a slow death for traditional marketing methods and related practices?

Let us know what you think.

Image Sources:

[1]: http://www.londonschoolofmarketing.com/blog/bid/340820/McDonalds-plays-in-the-digital-world

[2]: http://blog.startuptalky.com/embrace-yourself-for-the-hottest-jobs-at-startups/

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TOP MBA colleges in India that offer Dual Specializations

Praqtise — Sat, 03 Sep 2016 06:37:12 +0000

DUAL SPECIALIZATION: The New Business Jargon?

The air was heavy with the overwhelming waft from my mother’s cooking. It was homecoming for my elder brother, Anuj, following three whole years of virtual conversations. While the anticipation in the house grew with each stroke of the clock, my subconscious took me through an assortment of worries that none but I knew of. With every glance at my watch, I was reminded of the target that hung above my neck, while time slowly slipped away like a sly snake with absolutely no regard for anybody.

A few impatient hours later my brother was at long last home and of course, we rejoiced in a sheath of enthusiasm of a family reunion. For a blissful few minutes my mind remained occupied with all that my brother had to say when again, in a single dull moment, the numbers reared their ugly head again. Not one to miss out on my lack of enthusiasm during a conversation, Anuj caught up with me. Was I glad that he did? Maybe. Anuj is also an MBA Graduate, except he graduated almost 5 years before I did and unlike me, marketing didn’t interest him at all. If there had to be anyone that a fresh and completely inexperienced MBA graduate like me could rant to, it simply had to be Anuj.

To begin with, I had seemingly a very simple problem. While I had absolutely no trouble navigating through my specialization, I just could not manage to bring a team together to achieve our targets. I could possibly blame it on my utter and complete lack of people skills, yet was I to think that my entire career was veering towards an untimely demise owing to this? I did not have the slightest idea of human resource management, neither had I anticipated that such a requirement would arise even in its most general application. My trail of thought lead me to think about those, like me, who are also in all probability attempting to break through their own expectations but are limited by a handicap of a specific aspect in their stream of work.

My Big Brother, took it upon himself to enlighten me about dual specialization. It seemed that dual specialization was the answer to those that wanted to opt for specializations in more than one domain. Quite so often the candidates choose combinations of Finance & IT, Human Resource Management and Marketing. While Dual Specialization is offered by a number of top MBA Colleges in the country, the rising demand for a dual specialization continued to plague my mind with an array of questions. How did I not know about this? Why was dual specialization starting to pique a growing interest among every aspirant? How does it benefit one’s career and what could possibly be the drawbacks? I conceptualized through the thought, trying to comprehend what it is that I had overlooked till now.

WHY DO YOU NEED A DUAL SPECIALIZATION?

Streams of specialization

MBA with dual specialization is particularly helpful for entrepreneurs and business visionaries. Many of the top MBA colleges in India offer dual specializations. In this, the students can pick one stream as majors and one as minors. The candidates can choose specializations according to their business necessity. A student with entrepreneurial ambitions would benefit from exploring more than one domain of business. As we know, multi-functional adeptness is a primary requirement for an entrepreneur.

As the business sector opens up, industries require applicants with solid capacities for multitasking. There’s a gigantic interest for applicants who can fit into expanded parts with sufficient productivity. What’s more, an MBA degree with dual specialization fits this interest supply crevice. A standout amongst the most famous dual specialization is MBA Finance and Marketing. Both specializations are vital parts of the business. Similarly, one can see the rationale in combining MBA in IT and Operations studies so as to have a more enriched and dynamic academic profile.

HOW DOES A DUAL SPECIALISATION HELP A CANDIDATE?

A number of benefits accrue from graduating with dual specialization

1) Dual specialization implies a higher exposure. Each business function has its intricacies and getting introduced to the diversity in functional perspectives would clearly enhance understanding. Students develop unique domain expertise and perform diverse assignments at the same time with equivalent productivity. The belief that dual specialization provides for a higher scope of placement holds true since the candidates are qualified to sit for different organizations for different positions.

2) General management profiles are highly coveted and the top MBA colleges in India strive hard to obtain a distinguished repute in creating professionals suitable for this category of jobs. One can naturally infer the advantage that dual specialization courses would have over single specialization in this aspect. Recruiters would feel more confident in picking students with demonstrated academic exposure across disciplines for such profiles.

3) Networking is an esteemed craft in MBA. Organizations and recruiters anticipate that MBA graduates will have an extensive network for successful business transactions. Dual specialization requires networking with a wider group of peers during lectures and for projects, thereby fulfilling this requirement in the most natural way.

Climbing the corporate ladder

A Praqtical look: There are distinct advantages of having dual specialization in an MBA program. However, seeking the dual MBA program from one of the top MBA colleges in India is of paramount importance. The best minds flock to high ranking institutes, be it students or faculty. The collective experience that one goes through in MBA is as important as the coursework itself. Therefore, the reputation of the college is a primary consideration while selecting colleges.

There is one noteworthy argument against the perceived advantage of dual specialization. Some organizations suggest that dual specialization MBA courses are excessively wide in nature. Absence of focus is one of the greatest contentions that businesses pit against dual specialization. Recruiters even argue that most job profiles are not designed with dual specialization in mind.

Top MBA Colleges in India that offer dual specialization option

What are your thoughts on dual specialization? Share with us in the comments section.

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Image Sources:

http://www.skips.in/specialization/
http://marketingland.com/growth-hack-marketing-career-2016-153743

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