Hey Akansha, are you free on the coming Sunday?
Yes Pihu! What’s the matter?
Nothing great! I just wanted to go to market to buy a pair of Denims!
Ok! Let’s go to Levi’s then…
Why Levi’s only?
Because they have got the best range of denims and the quality of denims is excellent.
Ok done! Sunday fixed for Levi’s …
The above conversation between two friends who are planning to go on shopping is an example of ‘how brands have dominated our lives’. Why did they choose to go to Levi’s only when there are many other brands famous for jeans such as “Wrangler, Lee, Calvin Klein, Diesel and many more?
It is because ‘Product, Marketing, Sales and Growth’ are the four pillars of brand management that have emerged from the foundations of modernism and technology. Thirst for style, luxury and loads of money is what have fuelled the industry of brands over the years; that now, it is one of the most competitive markets in the world. Before diving into the tits and bits of MBA in Brand Management course, let’s first learn the definition of brand management.
Brand management, the combination of style and innovation, is the process of supervising and promoting a particular product, brand or service to increase its value in the market. In simple language, it is the activity that keeps the business running. Launching a ‘brand’ is just a tip of an iceberg; the thing that cracks the real-deal is its ‘management’ by ‘engaging the audience’.
As quoted by Charlene Li and Josh Bernoff, Forrester Research executives
Branding is synonymous to product itself; it’s what converted ‘toothpaste’ into ‘Colgate’. This is why the top brands are on constant lookout for MBAs who can bring value to their business, promote their brand and take them to new heights!
The purpose of this comprehensive article is to clear all your doubts pertaining to the course of MBA in Brand Management. You will find here the following topics:
- An Introduction to Brand Management
- Eligibility criteria for pursuing MBA in Brand Management course
- Rationale for choosing a career in Brand Management
- Syllabus taught in Brand Management
- Career Options/Opportunities after Brand Management
- Pay Packages offered to Brand Management
- List of Top/Best Colleges to Brand Management
- List of Top Recruiters that hire Brand Management
What is MBA in Brand Management?
MBA in brand management is a highly specialized educational course that equips you with substantive knowledge about brand management. It teaches you about how to build a brand and manage it with branding strategies. Now these strategies are only in theory, you have to add on your uniqueness into practice for acquiring top-notch opportunities in this field. MBA in brand management will aware you of:
Creating the perception of a brand by extensive research, analysis and planning is the crux of brand management, and this is what an individual with a degree of MBA in brand management can do. That’s all about what you can offer, let’s see now what this field has in store to offer you.
Why MBA in Brand Management?
Branding exists in almost all the industries. Whether it is “Ambuja cement”, “Tata photon”, “Voltas’ AC”, “Levis Jeans”, “Heinz Ketchup” or “Patanjali’s Maggi”, the recognition of the products is from the identities of the brands. Needless to say, the opportunities in branding field are immense with emerging markets.
It is projected that 70% of the global growth will be stimulated by the emerging markets. India and China will be accountable for 40% of this growth.
The Indian luxury brand market has witnessed a growth of 30% in 2013, where it reached 8.5 billion US dollars. With high modernism and consumerism, this amount is likely to reach 14 billion US dollars in 2016. The Indian luxury market is far-reaching with its products of home decor, jewelleries, bags, clothes, watches, automobiles, gadgets, personal care etc., which has attracted high clientele of consumers. The below figure corresponds to the growth of luxury market in India.
Source: KPMG report, India luxury summit 2014
Figure: Indian luxury market size
The increase in product consumption has enticed various brands such as Royce, Faberge jewellery and Geox Group etc. Not only these foreign brands have launched themselves in India, but also deployed striking strategies to lure people in.
In 2013, Moet Hennessy, the leading importer of wines and champagnes introduced Indian-made wines for the first time in India. The target audience was the youth in urban areas.
With the notion of developing quality products in India, Hidesign, a leather brand, aimed at positioning their manufacturing facilities here while simultaneously catering to the customer demand.
In a similar fashion, the Indian marketers are not behind in developing their brand name all over the country. Previously, they were restricted by the geographical locations that influenced the purchasing decisions of the customers. Now, they have extended by building their outlets in various regions of the country, increasing their popularity and demand.
Fashion designers like
- Rohit Bal
- Manish Malhotra
- Anita Dogre and
- Tarun Tahiliani
have concentrated their talent on traditional craftsmanship to develop unique products, which have increased their popularity outside the national borders.
Among the other brands are Taj, Oberoi, and Forrest Essentials etc., which are preferred over the foreign brands. The below figure shows the preference bar of consumers:
Source: KPMG report, India luxury summit 2014
Figure: Luxury consumers preferring to shop in India over abroad (%)
One key player portraying the aspect of branding is India’s retail sector. The size of the Indian retail market has increased in the recent years and is expected to take an immense leap of expansion.
There are 12 to 15 million retail outlets in India with a size of 534 billion US dollars in 2013-2014. Consequently, the CAGR had an increase of 15% from 2008-09 (more than the GDP growth of the country). This value is projected to reach 13% along with the size of market worth 948 US dollars in 2018-19.
Source: KPMG report, Indian retail: the next growth story
Figure: Indian retail sector, size and growth
Source: KPMG report, Indian retail: the next growth story
Figure: Opportunity size and key retail segments for potential consumers
Consumer product companies have been the key players in brand management who aim at attaining higher ‘size’ and diversity in ‘products’.
The economy of India is subjected to ups and downs, and with high gasoline and goods prices, the companies are striving to maintain their position in the competitive market. The consequences of the pressures from market are low profitability, duplicity of brand-names and budget cuts.
To remain profitable, brands like Starbucks, Clorox and Hershey Foods have increased their product prices. Another consequence of these increasing values and competition is the demand of brand management and respective professionals. In all the industries across the nation, companies are striving to deploy strategic mechanisms for instigating the title of well-managed brand. And with the boom of e-commerce, reaching out to customers and engaging them, have been the new process of branding.
A gamut of career opportunities for branding professionals!
Eligibility Criteria for MBA in Brand Management
Professionals with vast knowledge of branding and brand management have higher chances of acquiring National and International exposure in this field. For that, it is mandatory to have a degree in MBA in brand management from top Indian colleges. The eligibility criteria for getting into this race are:
- A bachelor’s degree in the relevant subject with 50% of aggregate marks
- Clearance of entrance examinations such as CAT/GMAT/XAT/SNAP/CMAT or any other required exam for getting admission in this programme.
- Duration of the course is two years.
Skills required for MBA in Brand Management
A career in brand management will exploit your subject knowledge skills- true! But it also requires some personal attributes that will accelerate the process of success. So, do you possess the following qualities?
Do you seize the power of negotiation?
Are you gifted with manipulative skills?
Are you a profound thinker?
Can you travel when required?
Are you susceptible to changes?
Are you a visionary person?
Are you a persuasive communicator?
MBA in Brand Management Syllabus
The comprehensive program of MBA in brand management will help you learn and master the following subject areas:
Introduction to brand management
Need for branding
Brand & related concepts
Brand life cycle
Brand positioning & repositioning
Branding in specific sectors like Industrial, retail, service, e-branding
Designing and implementing branding strategies
MBA in Brand Management: Career Options
The marketing field has opened doors for high employment opportunities and as projected, it will only increase with intense global and domestic competition in the emerging markets. They get to explore cross-functional experiences in multi-variant job profiles. The demand of brand management professionals is not only forecasted in the Indian companies of products and services, but also in the international organizations. Top brands such as Nestle, Ranbaxy, Reckitt Benckiser and Aviva Life Insurance offer career prospect for brand managers outside India. Few of the industries that are readily hiring branding professionals are:
- Mobile companies
- Insurance companies
- Pharmaceutical industry
- Leading manufacturers
After completing the program of MBA in brand management, individuals have blooming career options such as brand development manager, marketing analyst, sales representative and product manager etc. The below diagram represents the career graph of such individuals:
Pay Packages for MBA in Brand Management
The professionals in brand management can acquire jobs at different positions and companies. Accordingly, their packages may vary. At a broad level, a fresher can earn from Rs. 15000 to Rs. 30000 per month. The tentative salaries as per the job profiles are portrayed below:
Average Salary Package (Tentative)
Assistant Brand Manager
Top Colleges for MBA in Brand Management
Following is the list of top-notch colleges, which offers this highly specialized degree:
- IIM, Ahmedabad
- MISB Bocconi, Mumbai
- MP Birla Institute of Management, Bangalore
- FAD international, Mumbai
- Bharatiya Vidya Bhavan, Kolkata
- SP Jain Institute of Management and Research, Mumbai
- Indian Institute of Social Welfare and Business Management, Kolkata
- Symbiosis Institute of Management Studies, Pune
- Indian Institute of Science and Management, Ranchi
- Xavier Institute of Management and Entrepreneurship, Bangalore
Top Recruiters for MBA in Brand Management
Following are the list of top companies that are in search of fresh MBAs in branding domain:
- Coca-cola India
- Bharti Airtel
- Tata Motors
- Sony India
- Hindustan Unilever
- Samsung Electronics
- Hero MotoCorp
- Godrej India
- Maruti Udyog
- Tata Teleservices
If you still have doubts or want to give us some inputs, then feel free to place your comments in the comment section below.
Share this article with those who are confused about choosing a right career path in management!