The markets of today’s global economy are vast, complex, and interconnected. People from across the planet are conducting business deals, swapping services and products, and exchanging currency– proving just how far business as we know it has come. That being said, a need for more expert individuals who are well-versed in the ways of marketing has emerged. It’s no wonder, then, that PhD in marketing programs are on the rise at colleges and universities everywhere.
Why a Ph.D. Degree?
For those opting to pursue a marketing PhD online, they likely get asked the question “why?” quite a bit. Sure, a Ph.D. is not required to have a career in the field of marketing, but for those who look at the industry and want to improve the current practices or status quo, a doctorate degree makes perfect sense. Plus, it also opens the door to teaching in the field, which might be an appealing option for many students. So, there are many reasons to pursue a doctorate degree in this subject, you just have to decide if it aligns with your long-term goals.
Getting Into a Ph.D. Degree Program
Getting accepted into any Ph.D. program can be daunting and challenging task, but it’s not impossible. Specific requirements will vary by institution, but here are some pretty standard criteria to expect:
- Admissions application and essay
- Up-to-date resume
- Academic transcript(s)
- Competitive GMAT or GRE scores
Inside a Marketing Ph.D. Degree Program
For the most part, the curriculum in a marketing Ph.D. degree program is in-depth, focused, and research-based. This one, offered through the University of Chicago Booth School of Business, explores specific issues or problems in marketing by focusing on the consumer behavior side or the economics/quantitative methods side. Since marketing practices rely on more than just business principles, courses will also come from other departments such as psychology, mathematics, and more.
Pursuing a Ph.D. can be quite a lengthy endeavor, with some programs estimating it might take about five years to complete . This of course varies from school to school and student to student, but individuals need to remember to account not only for coursework and research but also time to defend their dissertation. As far as specific topics explored, market behavior and consumption patterns are just two examples of the material being studied in programs like the one offered through the University of Maryland.
What’s Next for Marketing Ph.D. Degree Holders?
While working in the academic research realm or teaching might seem like the only logical career choices available for people in this discipline, there are other options. In recent years, the University of Maryland noted that there was much demand from corporations for recent Ph.D. graduates. As more companies look to revamp their marketing strategies to better serve their investors and consumers, marketing doctoral candidates will remain in demand.
Marketing credentials stop after the doctoral level, so should a student have an interest in something like the economics side of marketing, they can opt to pursue a degree in that.