Market-teching
Do you know who made the first move towards MBA?
Masters in Business administration – which was the first batch to acquire this degree? And who were the first few erudite to share their noble knowledge related to MBA?
Have such questions ever popped up in your head too? I am sure majority of people in today’s world have this frame of mind that they want to MBA as their post-graduate program, but the question is why?
What is it that you would gain after doing MBA? Is it actually going to give you better ways to express your thoughts or is it just another degree to show the world what you are capable of? Why do we need a degree to prove our existence in a particular field? Is it because of the competition?? These are few questions which would probably be analogous to plenty of students who are still confused about which path to follow in order to built their career.
MBA was originated in United States about 100 years ago (20th century) with an aim of applying scientific approach to management. It was basically devised for engineering minds in order to enhance their marketing skills which would help them to take their creation further. Initially the cynics had various ambiguities regarding MBA programme and hence a variety of amendments were made to the curriculum of MBA with time. At the outset, the MBA was said to be too academic, too theoretical and divorced from real-life business practice. MBA graduates were criticised for adopting an analytical and quantitative approach to business issues when companies needed managers with more diffuse skills, such as leadership. Faculty members were said to lack business experience and to be more interested in research than in providing business solutions. With such question arising, a major thought was given to the implementation of practical knowledge as well. MBA without practical experience would simply restrict the mind deteriorating the person’s analytical skills. Owing to this, majority of the European and American institutes made ‘Work-experience’ a major criterion in the recruitment process. I would say, when it comes to success it is not the degree that come into play but the ability to get things done! Basing things on only theoretical aspects would definitely lessen the creativity and also it would restrict people around certain fixed concepts only. Theory is a very significant part of knowledge but it is this theory which when combined with expediency develops great businesses.
The’ technicality’ of marketing:
One of the fields which I would like to converge to would definitely be sales and marketing. Firstly, what is the difference between sales and marketing? The terms ‘Sale and marketing’ are generally used concurrently but there lies major differences between them. Marketing is much broader as compared to sale. We can put it in this way; sale is an intermediate between the marketer and the customer i.e. sale is a customer to marketer. It must be noted that until a person doesn’t understand sales, he/she won’t be able to accomplish marketing efficiently. Without marketing you would not have prospects or leads to follow up with, but yet without a good sales technique and strategy your closing rate may depress you.
Marketing and sales both are equally important in taking business to a next level. In simple words, marketing includes everything that we do to reach and persuade prospects and on the other side, sales is retailing a particular product to a desired group of people.
My next blog would discuss Marketing and sales in detail individually.
Thank You!