Master of Marketing Research

Master of Marketing Research (MMR or M.M.R.) is a graduate degree program that may be from one to three years in length. About 75 percent of the fulltime programs can be studied in about one year while part-time Masters in Marketing are studied besides the job and usually need a minimum of two years to be completed.^[1] Students pursuing this degree study the aspects of research in the field of marketing. Unlike an M.B.A., which is a general business degree, the M.M.R. focuses solely on the aspects of marketing research.

History

The first Master of Marketing Research was developed by the Terry College of Business in 1979. Marketing faculty, together with leading marketing research professionals, developed a curriculum that "was designed to develop marketing research professionals of the highest caliber and thereby satisfy a critical need of U.S. business." [1]

M.M.R. degree

Generally, the M.M.R. combines classroom work with real-world research opportunities and special projects. M.M.R. courses stress practical application to real-world marketing research problems, rather than the theoretical application suggested in most bachelor's business degrees.

The M.M.R. gives specific instruction on research methodology, variable coding, and database construction and management. Classroom topics might include database management, focus group development, statistics in marketing, and consumer behavior.

Also known as

The M.M.R. degree may also be known as the Master of Science in Marketing Research (M.S.M.R.) or Master of Science in Marketing Analysis (M.S.M.A.). Similar in nature to the M.M.R. is a Master of Business Administration with an emphasis in marketing research. In Canada, the degree is known as Master of Business-Marketing/Analysis. In Australia, the degree is known as Master of Business in Marketing Research (M.B.M.R.) at Edith Cowan University, and as Master of Marketing (M.Mrkt.) at the University of Tasmania. In Europe, the degree is known as Master in Market Research and Consumer Behavior at IE University/IE Business School and as Master of Marketing Analysis at Ghent University.

Recent trends affecting market research education

Job Specialization. There is evidence that modern professional jobs are rapidly being disaggregated ^[2] and becoming increasingly specialized^[3]. While management of the marketing mix will continue to be overseen by generalists broadly trained in business and/or marketing, this trend towards specialization is creating new opportunities for professionals with focal training in the area of market research and the closely related area of consumer behaviour. The current and future job prospects for these market research specialists are highly attractive. For example, in the United States by 2018 jobs in Market and Survey Research are expected to grow to 350,500 as compared to 197,500 jobs for Marketing Managers, 43,900 jobs for Advertising and Promotion Managers and 64,100 jobs for Public Relations Managers.^[4]. These two trends -- specialization of professional jobs, and high demand in the labor market for market research specialists -- suggest an increasing importance for post-graduate training designed to provide a gateway for university graduates seeking to pursue careers in the areas of market research and consumer behavior.

Consumer Behavior Research by behavioral and neural scientists continue to make large contributions to our understanding of human decision making, and their findings are exerting a strong influence on the nature of marketing and market research. As companies struggle in a new world of "big data" ^[5] and social media such as Twitter and Facebook, companies are facing increasing challenges in collecting, analyzing and interpreting this data to better understand their customers. This suggests that consumer behavior and customer insight will likely play an increasing role in the work of market researchers.

Schools offering the M.M.R. (or equivalent)

Asia-Pacific

• Edith Cowan University - Perth, Western Australia, Australia
• University of Tasmania - Hobart, Tasmania, Australia - [2]

Europe

• Aston University - Birmingham, West Midlands, England
• Ghent University - Ghent, Flanders, Belgium - Master of Marketing Analysis
• IE University / IE Business School, Madrid, Spain - Master in Market Research & Consumer Behavior
• Tilburg University - Tilburg, The Netherlands

North America

• Bentley University, Waltham, MA
• Baruch College, City University of New York - New York City, New York
• Clemson University - MS in Marketing, Clemson, South Carolina, South Carolina
• Columbia University - New York City, New York
• DePaul University - Chicago, Illinois
• Fairleigh Dickinson University - New Jersey
• Hofstra University - Hempstead, New York
• Long Island University - Brooklyn, New York
• Mercy College - Dobbs Ferry, New York
• Michigan State University, East Lansing, MI
• University of Wisconsin–Madison - Madison, Wisconsin
• Southern Illinois University Edwardsville, Edwardsville, Illinois
• Tecnológico de Monterrey - Monterrey, Mexico
• University of Georgia - Athens, Georgia
• University of Texas at Arlington - Arlington, Texas
• York University - Toronto, Ontario, Canada

See also

• Macromarketing
• Marketing Research
• Marketing
• Consumer Behaviour
• Customer Insight
• Academic degree
• Industry or market research
• Qualitative marketing research
• Quantitative marketing research

References

1. ^ MIM-Compass: Masters in Marketing
2. ^ Manyika, James; Lund, Auguste, Mendonca, Welsh, Ramaswamy (June 2011). "An economy that works: Job creation and America's future". McKinsey Global Institute Report. http://www.mckinsey.com/mgi/publications/us_jobs/index.asp. 
3. ^ Malone, Thomas W.; Laubacher, Robert J and Johns, Tammy (July/August 2011). "The age of hyperspecialization". Harvard Business Review: 56–65. http://hbr.org/2011/07/the-big-idea-the-age-of-hyperspecialization/ar/1. 
4. ^ "United States Bureau of Labor Statistics: Occupational Outlook Handbook 2010-2011 Edition". http://www.bls.gov/OCO/. Retrieved 18 September 2011. 
5. ^ LaValle, Steve; Lesser, Shockley, Hopkins, Kruschwitz (December 2010). "Big Data, Analytics and the Path From Insights to Value". Sloan Management Review. http://sloanreview.mit.edu/the-magazine/2011-winter/52205/big-data-analytics-and-the-path-from-insights-to-value/. 

External links

• Marketing Research Association
• Universities dot Com