Marketing Management

Business is omnipresent in our day-to-day life and for a potential growth in the market, all kinds of organizations depend on the promotion of their products. For that every firm requires professionals with sales or marketing background. Marketing is a business discipline which is focused on the application of marketing techniques and administrating an organizations marketing resources. In simple words, marketing is the method of convincing people about a product / concept using different ideas and thus help the business grow. This field which involves advertising, distributing and selling of a product is regarded as the most important element in the growth of any company. Marketing / Sales Management involves studying the marketability of the product involved and the measures to enhance sales and implementing the same. Even though the term marketing has been derived from its initial word 'market', the place where transactions between buyers and sellers occur, it is much more than the original meaning. It is a well planned process of exchange between the customers and the sellers. A marketing process consists of four major Ps; i.e Product, Pricing, Placement and Promotion. Marketing personnel are professionals appointed by the company for convincing the clients and make them buy a product that the business offers. They are the people who create brands and promote their products and services. Sales and Marketing are two of the ever flourishing career sectors in the world and those having a knack for convincing people can find excellent job openings in this field. No specific qualification is required to enter the field, but a managerial position in marketing requires MBA graduates preferably with marketing as the specialized area. Success in this profession depends on ones marketing skills, which include communication, tact, creativity, stress and time management. According to American Marketing Association (AMA) marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” The term marketing applies not only to private business firms but also to almost all other organizations such as government, social service institutions, NGO's etc. Eligibility The field of marketing is open to all. Though no formal educational qualification is required, most organisations prefer graduates specially with MBA degree as their marketing executives. Most Business schools teach sales and marketing management as a part of the MBA curriculum. Graduates in any discipline can apply for the two year MBA programme with specialisation in marketing. Admission is based on written examination followed by group discussion and personal interview. CAT, MAT, XAT, JMET, ATMA are some of the management entrance test conducted by the institutes like Indian Institute of Management (IIM), All India Management Aptitude Testing Service (AIMATS), New Delhi, Xavier Labour Research Institute, Jamshedpur (XLRI), Indian Institute of Technology (IIT) and Association of Indian Management Schools (AIMS). Even though these exams are conducted by the respective institute for their admission, its scores are widely accepted by many of the Indian Business Schools. MAT exams are conducted 4 times a year while all the others are held once in a year. Certain other Business schools and universities conduct their own entrance test and some of these include National Management Aptitude Test (NMAT), Symbiosis National Aptitude (SNAP) Test, Open Management Admission Test (OPENMAT) by Indira Gandhi National Open University (IGNOU), Written Admission Test (WAT), IBSAT, CEMAT etc. All these exams follow the same syllabus and students can attempt 2 or 3 of these tests, so that they can apply to multiple institutes. Some institutes offer executive MBA programme in Sales and Marketing which require a certain years of experience. Besides MBA programmes, BBA (Bachelor in Business Administration) or BBM (Bachelor in Business Management) degree holders can also have openings in the field of marketing. The diploma course, PGDMCM (Post Graduate Diploma in Marketing Communication Management) also make the students professionally qualified in the fields of marketing, advertising, Entertainment, Brand management etc. Accounting principles, business laws, buyer behavior, economics, human motivation and behavior, statistics, principles of marketing, marketing research, production management, psychology are some of the subjects taught for marketing management courses. Personal Skill : For a successful career in the field of sales and marketing certain personal skills are needed. Understanding the product well is the major thing one should look into when he enters the field of marketing. One should be very tactful when dealing with clients and be patient and possess keen business expertise. Good communication skills, leadership quality, ability to motivate and work as part of a team, ability to understand and solve problems are the needed attributes. Quick thinking and the ability to come up with new ideas are advantageous. Meeting the target is a big criteria and for that time management is very essential. A marketing manager must be self confident and always be updated with the current affairs and be familiar with advertising and merchandising techniques. Working for long hours under hectic work pressure is not a new thing in this profession. Sometimes the job of a marketing manager demands lot of travelling, be prepared for that. Good computer knowledge especially in softwares like Excel and Power Point is an added advantage for this profession. Mathematics Mathematics, one of the oldest and most fundamental sciences is the study of the measurement, properties and relationships of quantities and sets, using numbers and symbols. In simple words, mathematics deals with study of numbers and their various calculations. It is used throughout the world by all individuals in everyday life. Mathematics is an essential tool in many fields, including natural science, engineering, medicine and the social sciences. Mathematicians who deal in this subject field, use mathematical theory, computational techniques, algorithms, and the latest computer technology to solve economic, scientific, engineering, physics and business problems. Mathematics is divided into two areas: theoretical or pure mathematics, and applied mathematics. Theoretical mathematics or pure mathematics is the study of the basic concepts and structures that underlie mathematics. Its purpose is to search for a deeper understanding and an expanded knowledge of mathematics itself. It is concerned with expanding and clarifying mathematical theories and laws. Applied mathematics is a branch of mathematics that concerns itself with mathematical methods that are typically used in science, engineering, business and industry. Thus, applied mathematics is a mathematical science with specialized knowledge. Mathematics is used extensively in physics, actuarial science, statistics, engineering and operations research. Computer science, business and industrial management, economics, finance, chemistry, geology, life sciences, and behavioral sciences are likewise dependent on applied mathematics. ________________________________________ Eligibility Educational: For entry into the field of Mathematics, you need to have a degree in Mathematics or a B.Sc. in Pure Science with a strong aptitude for Mathematics. A bachelor's degree in mathematics is offered by most colleges and universities. Those with bachelor degree can take courses in a field that is closely related to mathematics, such as computer science, engineering, life science, physical science, or economics. They can otherwise go for master level courses in pure or applied mathematics and even do Ph.D which is required for research and academic jobs. Personal Attributes:Prospective mathematicians must have above average intelligence and a natural feeling for numbers, spatial figures and problem solving skills. They require a keen eye for detail and a love for study and experimentation. Logical thoughts, reasoning skill and the ability to work systematically and accurately are essential. Self-discipline and a wide general knowledge are also important qualities. They must have the patience to spend long periods of time concentrating on complex problems. They must be able to work independently. They must also be able to present their own ideas clearly for which good communication skill is required. Mathematicians also should have substantial knowledge of computer programming because today most complex mathematical computation and much mathematical modeling is done on a computer.