Thursday September 23, 2010 - 11:00 AM CDT
Moderator: Hello all,
Moderator: We will be starting the chat in 2 minutes. In the meantime, please feel free to read the profiles of some of our chatters at http://www.chicagobooth.edu/boothconnect/fulltime/9.23.10MarketingChat.aspx
Moderator: Thank you!
Art: Welcome! This is Art Middlebrooks, Clinical Professor of Marketing & Executive Director of the Kilts Center for Marketing. I teach 2 courses: "Developing New Products" and "Marketing of Services". I'm also a Booth alum from 1988. Bring on the questions!
Elaine: Hi everyone! I'm Elaine, a second year student concentrating in marketing. I'm looking forward to answering your questions.
Jennifer: Hello! I'm Jennifer Williams, Assistant Director of the Kilts Center. Looking forward to a great chat today!
Risa: Hi everyone! My name is Risa Shapiro and I'm a second year student concentrating in marketing and am one of the Marketing Group co-chairs this year. I look forward to answering your questions!
John: Hey everybody! My name's John Backer; I'm a second-year student and one of the Marketing Group co-chairs. I'm sure you've got lots of questions--fire away!
Stephen: Good morning! My name is Stephen Hammond. I'm a second year student, and I spent the summer in New York City working in as a Marketing intern for American Express. I'm looking forward to answering your questions, so please ask away!
Joanne: Hi everyone! I'm Joanne Legler, Associate Director of Admissions, here to answer any questions you might have about the application or admissions in general.
Zhanar: Dear Sirs, first of all thank you for this opportunity. I am thinking of own business in the future. I have doubts if I choose double consentration in Entrepreneurship and Marketing how markeing would benefit me?
Art: Hi Zhanar, thanks for your question. Entrepreneurs need to be able to define their product/service offering in a way that addresses an unmet customer need. They also have to build awareness & distribution for their product/service, and figure out how to price it. These decisions are all important to success. So Marketing is a great concentration for future Entrepreneurs.
Benp: Have there been any students, whose their pre-MBA focus was on marketing, changing his concentration to other area while in school?
Elaine: Absolutely! One of the great things about Booth's flexible curriculum is that it allows you to pursue multiple concentrations and take classes that interest you. I am concentrating in marketing and decided to add concentrations in finance and general management.
Stoycho: Would I be considered a reapplicant if I had applied to the part time program and then apply to the full-time one (or vice versa) ?
Joanne: No, you are only considered a re-applicant to the same program. What this means is that we will not have your prior application to the Part Time program, so please submit all materials as a first-time full-time applicant. However, you may answer the "prior application" question in the application if you'd like.
DhruvSuri: Hi, I wanted to know on an average how many students are placed into technology products marketing position and what kind of companies recruit for such profiles at booth
Art: Hi. I would estimate about 25% of our Marketing students take a role with a Technology company. In recent years Marketing students have taken full-time jobs & internships at companies like Amazon.com, Apple, Google, Microsoft, Electronic Arts, Orbitz, and Adobe. This is just a sampling.
SR: Hi, I am from india and have a score of 640 and work experience of 5 + years in IT, do i stand a chance with this score?
Joanne: We cannot make admissions evaluations based on only a few pieces of information; we take all factors into account, so certainly you are welcome to apply if you'd like. You can see our class profile online at http://www.chicagobooth.edu/fulltime/community/stats.aspx. Statistics for the first year class will be available soon.
gk: Can you tell me a bit more about the Marketing labs and any way to get international experience?
Risa: Hi gk, thanks for your question! I was fortunate enough to participate in three different labs as a first year student and those were great opportunities to learn more about marketing. Through the Business Solutions Group, another student group on campus, I did a project to identify a consumer product company’s target market. I also did a marketing lab project in the Marketing Research class and there are several entrepreneurship classes that include lab components. They were awesome opportunities to get out there and work with real companies in the community. There isn’t necessarily an international lab pipeline, but Booth is always exploring opportunities to offer students international opportunities – I have a friend that did a lab in Milan last year. Also, many students do a quarter abroad in their second year.
gk: Regarding the optional essay, is it appropriate to talk about a low gpa and what actions were taken to mitigate it, transfer credits, and personal time off for an ailing grandma? If so, what format should it be?
Joanne: Yes, that is a good use of the optional essay. You can simply write text to explain this, or any other anomalies in your application.
DhruvSuri: Hi I wanted to know how the Kilts centre impacts the Marketing education at Booth on a day to day basis. What sort of activites are students involved in at the same
Stephen: Hi! Thanks for your question. The day-to-day impact of the Kilts Center is tremendous. The center has established the Marketing Fellowships program, which, in addition to the financial component, also includes an invaluable mentorship component. Also on the mentorship front, the Kilts Center has established a Marketing Mentorship program, which pairs up alumni and current students. Additionally, the Kilts Center maintains comprehensive databases, including the A.C. Nielsen Household Panel and RMS store data, which are used to enrich our Marketing classes. Finally, the Center has developed relationships with corporations that allow Booth to offer experiential learning projects with these companies in certain classes.
Jonathan: Do you have many career changers from an engineering background switching to marketing? If so, what are the typical employment opportunities for them?
John: A lot of engineers come to Booth looking to make a career change, and many do go into Marketing. I think you'll find that Booth's analytical approach to Marketing really fits well with an engineering background. While there will always be companies who prefer previous experience in a field, I think you'll find that there's really a diverse set of opportunities for career switchers, from analytic marketing and market research roles to traditional brand management.
Miami: Whats the dress code for the Miami meetup tonight?
Joanne: There is no strict dress code for any of our events, but a good guideline is "business casual".
Fernando: Hi. My name is Fernando and I am from Brazil. What aspect of Booth approach to Marketing do you see as differentiating?
Art: Great question Fernando. I'll give a short answer and then some more details.
Art: Our focus is on equipping students to create real value in the marketplace, not just create Marketing programs.
Art: We do this in several ways:
Art: (1) We teach state-of-the-art marketing tools and concepts through a full-service Marketing curriculum. So our students learn the core concepts, tools and terminology that they will encounter immediately on the job.
Art: (2) Students get a chance to “practice” these concepts and tools in what we call Marketing “Lab” classes. Companies sponsor real projects which students tackle as part of a class. So students learn Marketing tools/concepts, and then get an opportunity to apply what they learned to an important, real-world project from a sponsor company. Last year, we had over 45 companies sponsor projects in our Marketing classes, and approximately 250 students worked on those projects. In several of the classes, students can also request to work on a project for their own entrepreneurial ventures.
Art: (3) In Marketing and other courses, we teach fundamental underlying principles that don’t change – principles of Economics, Consumer Psychology, Statistics and Finance for example. So although the business world and the tools/techniques of Marketing change rapidly, these underlying principles do not. As a result, we believe the Chicago Booth education “wears well” over time and helps our alumni become successful Marketers and General Managers as they progress in their careers. Specifically, because our graduates understand these underlying principles, they are better able to understand, align and motivate people from all different functional areas within a company (e.g. R&D, manufacturing, operations, sales, human resources, finance) … this is something that successful Marketers must be able to do.
Art: (4) We offer education in leadership and opportunities to “practice” leadership skills … for example, in the LEAD course, Power and Influence in Organizations course, and “Lab” classes in Marketing and Entrepreneurship.
Art: We believe this unique combination equips our students to be very, very successful in Marketing and General Management careers.
Bill: For the second year MBA student -- why dd you select Booth for your Marketing concentration?
Elaine: Hi Bill! I was attracted to Booth's analytical approach to Marketing. Data-driven marketing is gaining traction with top marketing companies and Booth has made significant investments in its marketing curriculum through its partnership with the Kilts Foundation. I also really liked the students and faculty I met when I came to visit campus!
Jonathan: After looking at everyone's profiles, do the marketing-concentration students typically come from a marketing background?
John: I'd say about half of our Marketers come from marketing backgrounds and half are career switchers. There are a lot of resources for both groups, but so many people come to business school to change careers that career services and student groups (like the Marketing Group) really emphasize supporting those looking to make a change.
chc: According to the booth brochure, Marketing ranks as the 3rd of the top 5 functions regarding job placement by functions (Consulting: 23.0%, IB: 18%, Marketing: 11.1%, Company Finance: 7.9%, Investment/Management Research: 6.7%, Others: 33.3%). However, marketing does not appear as a group when categorized by industries (Consulting: 23.2%, IB: 21.5%, Diversified Financial Services: 9.1%, Consumer Product: 6.9%, Investment Management: 6.2%, Others: 33.1%). Could you please explain which groups of the industries are composed of 11.1% marketing functions?
Art: Hi chc. I think all of the Top business schools list their job placement reports using similar categories. Marketing is generally a job function you can have within many different industries (e.g. healthcare, technology, food, etc.). The only time you might see Marketing as an "industry" is for Advertising/Marketing Services.
Emily: As someone with little experience in marketing, what publications would you recommend I look to get a sense of the scope of the field and current issues?
Stephen: There are a number of daily/weekly e-mail publications that are free to sign up for and will help keep you up to date on the latest marketing issues: Ad Age, Brand Week, Brand Channel, and the NRF & GMA SmartBrief publications are all great places to start!
Don: When do guys start looking for internships, is it the in fall of your 1st year? if so, would you already have to know what type of industries you have to go to your first year?
Risa: Hi Don. There is a ton of support here to help students with their internship search and to help students figure out what they really want to do when the graduate from Booth. The internship search does begin in the fall, but it kicks off with a number of events to introduce students to different career options and industries. Outside of the resources provided by the school, there are many companies that come on campus so you can really use them as a resource to learn about different roles and industries.
Alice: Thanks for taking the time to answer questions. I am aware that today's chat is about the Marketing concentration, but I do have some general admission related questions. Would you please explain what you mean by "competitive GMAT score" for early career applicants? Is there a range or a cut-off you target? Thanks.
Joanne: Hi Alice. No, there is no cut off for GMAT scores for any of our applicants. Our average GMAT is 715, with most of our students scoring in the 650-760 range. So overall, I'd say a competitive score would fall in that range. Remember, though, that the GMAT is but one of many factors used in evaluation of applicants.
alex: I currently work at General Mills and am looking to transition from supply chain management to brand management in the CPG industry. Among my marketing friends, I am increasingly seeing Booth MBA's which is great to see since historically General Mills has not recruited as heavily from Chicago Booth. Which CPG companies does Booth have strong relationships with as far as recruiting and hiring marketing graduates?
John: Booth has relationships with a lot of great CPG companies. Examples include Kraft, PepsiCo, Sara Lee, Wrigley, MillerCoors, Anheuser-Busch InBev, Yum Brands, Campbell's, General Mills, and many more! We are also always working to build stronger relationships--for example, this year the Marketing Group will conduct our third annual Proctor & Gamble trek, where students will have the opportunity to visit P&G for a day.
Shrimant: Professor Middlebrooks, thanks for agreeing to talk to us prospective students. I just wanted to know what you felt about the flexibility Booth offers to students in course selection and if there is an option to co-develop a course with students.
Art: Hi Shrimant,thanks for your message. You are correct that there is great flexibility to select the courses that best fit your interests and avoid taking courses that you already have a background in. In terms of co-developing a course: students have an opportunity to serve as TA's for faculty (upon faculty request). I typically ask some of my best students to serve as a TA during their second year. I'm not aware of students & faculty co-developing courses.
G-2354985: Hi, and thank you for hosting this chat. I am a college junior and do not have an ounce of corporate work experience. I plan on applying to Booth after I graduate with my undergrad, but will that significantly hurt my chances of getting in?
Joanne: You are welcome to apply at anytime, but as for any applicant, it is your job to explain the timing--why is now the best time for you to pursue an MBA? For early career applicants, we do look for some work experience, whether that be internships, part time jobs, full time work and/or a research assistantship. All of those could be considered work experience, but, again--the important factor for you will be to make a case for diving right into a Full Time MBA program post-college.
jerome: Hi everyone,thanks for the opportunity.My question is how comfortable will a student with a project management background be in the marketing concentration?
Elaine: Hi Jerome! A large number of students in marketing are career switchers. Companies recruiting for marketing positions will probably appreciate your project management skills and a concentration in Marketing will help you become a well-rounded Marketer. The Marketing Strategy course provides a solid foundation in marketing basics and the other courses, such as Data-Driven Marketing and Consumer Behavior will help you build on that foundation.
vakuts: Hello everyone, thanks for hosting this chat. Could you talk about recruiting fields for marketing concentration; i.e. what's the distribution b/w CPG mktg, services, B2B marketing, etc.
Stephen: Hi vakuts! We don't have the exact breakdown, but CPG is generally the largest, with healthcare/pharma, consumer/financial services, and tech all also making up substantial portions.
Miami: In what ways does the Kilts center address the marketing challenges for entreprenuers
Art: Just as an example, last year the Kilts Center held a full-day seminar on Digital Marketing, and this was co-sponsored by the Polsky Center for Entrepreneurship. Also, in our Marketing Lab classes (Marketing Research & Consumer Behavior), there are company-sponsored projects, but students can propose their own company/new venture and design a project for it. This is a great way for an entrepreneur to apply the course content to their own venture!
mithilesh: I have a question for Admission committee. I am having one of my friend in Chicago Booth with whom i worked in my previous company. Can I ask him for the recomendation? Will it be OK for Adcom or not?
Joanne: You are welcome to choose anyone at all to write your letters of recommendation. If your friend would rather not write a full letter of recommendation, but rather would like to submit a note of support, they can do that by emailing email@example.com. That note would be added to your file.
Sandeep: Hi Art, Thank you for hosting this session. I am looking for a career in product management in the high-tech industry. The mentoring program launched in 2009 is a great inititative. I have a 2 part question:a)I am aware that companies like Microsoft and Intel do recruit at Booth. However I did not find any alumni members from the high-tech industry in the document about the mentoring program that is published on the website. Is this because the list is not exhaustive or is it because recruitment for product managers in the high tech indstury is relatively less compared to other industries?b) I have gone through the course description and interacted with few alumni from Booth. Can you shed more light on what are the strengths of the marketing program at Booth that I can leverage?(given my career focus and field of interest)
John: Hi Sandeep--this is John. Glad I got this question, because I am also interested in Product Management, and have a fantastic mentor who worked at Microsoft and is now running his own tech consulting business. So to answer Part A, we have a really diverse set of mentors, including a growing presence in tech. As for Part B, I think Booth's marketing program is unique in its analytical approach and rigor. In my experience, this type of thinking about marketing seems to dovetail really nicely with the culture within the tech industry. By and large, I think we have a big advantage in that our marketers can present marketing in a way that resonates with engineers and other members of the tech community.
Miller: I'm currently a product manager in the IT industry looking to transition into a brand/product management position ina consumer goods company post-MBA. How can Booth help me make this transition?
Risa: Hi Miller. Booth offers many resources to help people interested in transitioning careers. In fact, about half of the marketers in my class are career switchers. One way to help you prepare is through the lab options, which I talked about in my response to gk. Also, since we have so many alumni throughout the world, students can leverage them to start building relationships at companies they are interested in learning more about even if you don’t have a marketing background. Career Services here is really phenomenal and I personally have used them to help me position my past experience for the career that I’m looking to move into. So many students come to Booth to transition careers and do it very successfully!
PraveenK: Hello, I am currently a product development engineer within the semiconductor industry. I am looking to get into brand management within the hi tech industry. Do you find a lot of resources available for career switchers and are there resources available for those individuals looking to get into marketing in the high tech industry?
Stephen: Hi Praveen! I was a career switcher (I came from a finance background) so I can definitely attest to the great resources provided by our Career Services team and the Marketing Group to assist you in a career change. And we have students every year that go into tech marketing, as our Career Services team has developed a number of relationships with top tech firms.
jcouv: Hello - For those specializing in marketing, is it uncommon not to come from a marketing background?
John: Not at all! About half of the students interested in marketing are career switchers who come to Booth to take a different path with their careers (I was in this boat myself). All the groups, from Career Services to the Marketing Group to second year students, know what it's like to be a career switcher and offer great support to those looking to make a change.
BNielsen: Along with SR's question, how much weight is given to the different pieces of the application process: GMAT, GPA, Essays, Recommendations, and Work Experience? Do any tend to be more important than the others?
Joanne: No, there is not one factor that is more important than another in the evaluation of applications at Chicago Booth. We read every piece of every application and make decisions based on all of that information.
Anna: Hi, I was wondering, if my official GMAT score is not available by the application deadline, will an unofficial score be accepted (and any decision made to be conditional on the official GMAT score)?
Joanne: We will look for an official score by the application deadline, so not having it may delay the processing of your application. We would need it before rendering a decision in that round, so failure to submit it may push your application into the following round. We'll make every effort to contact you to let you know what you're missing.
jollyholly: I know Booth has started boast your marketing department, the one that is as strong as Chicago's traditional finance contentration. So what do you think booth's marketing is unique when compared with other schools ?
Art: Hi. Thanks for your message. I gave a pretty detailed answer to this question earlier, so you might scroll up to that answer. In a nutshell: we really want to equip students to create real value in the marketplace, not just create good Marketing programs. We do this by teaching not only current marketing tools but the deeper "disciplines" that are the foundation for marketing: economics, psychology, and statistics. We then give students the opportunity to "practice" the theories learned in multiple experiential "lab" classes where they can tackle real-world projects. We clearly have a strong emphasis on critical thinking and analytical rigor, which is increasing desired by the companies who recruit for Marketing.
ek: Booth offers some really cool experiential learning opportunities - might someone be able to speak to how one gets involved in this and a personal experience in the program?
Elaine: Hi Ek (those are my initials too)! There are a number of experiential learning opportunities available to students from regular classes with real world projects, lab courses, and extracurricular activities. I took Consumer Behavior last spring which is a regularly offered class that incorporates a real world project. My team conducted field research for an independent frozen yogurt store. It was a great experience because it allowed me to put into practice some of the skills and tools I had learned in my other marketing courses as well as to build an understanding of the kinds of concerns facing a small-business owner.
Woody: I am considering a concentration in Marketing. However my background is in Finance and I have zero experience in Marketing. How many students in the marketing concentration are completely new to the subject? How is their experience?
John: I was in the same boat when I started at Booth. I had worked at a utility that didn't even have a marketing department. We estimate about half of Booth students who pursue Marketing concentrations or careers have little to no marketing experience coming to Booth. The community, from Career services to the Marketing Group to second year students, really prioritizes helping career switchers, and there are a lot of resources out there. For me, I loved getting to learn something new, and found that those resources--and of course the marketing professors--made the transition really easy.
Emily: Are current students involved in the research at the Kilts Center? I'm especially interested in marketing research around pricing and am wondering if there are any current projects examining this.
Art: Hi Emily,
Art: Our PhD students are involved quite a bit with faculty & their research. MBA student involvement in faculty research is certainly possible, but not as frequent. There's quite a bit of faculty research into the area of pricing.
Kristen: Good morning! I'm interested in pursuing a career in brand management. I see that Risa interned at Sara Lee. What other companies recruit at Booth for brand management?
Risa: Hi Kristen, thanks for your question. I had a great summer at Sara Lee and many of my classmates really enjoyed their brand management internships as well. There are several consumer products companies that come to campus ranging from beauty products to food and beverage. Just off of the top of my head, Kraft, Wrigley, PepsiCo, MillerCoors, Anheuser Busch InBev, Campbell’s, Reckitt Benkiser, Clorox, Alberto Culver and General Mills all recruit Booth talent.
Meridith: I am interested in having a double focus in Marketing & Strategic Management. How do those connect with each other in the program?
Stephen: Hi Meridith! I am pursuing both of those concentrations currently, and I have found that they make great complements. While I am going to be in a marketing role immediately after graduation, I think strategic management will prepare me well for a general management role in the long term. I don't think any of the courses explicitly overlap, but to the extent that marketing is one of the tools used to tackle broad strategic issues, there is a little content overlap.
Charles: Hello all, thank you for this opportunity. How many courses in the marketing concentration are geared towards Branding and product development? It's an area of interest for me and very few Universities offer enough courses in this area.
Elaine: Hi Charles! There are a number of marketing courses that address branding and product development including Marketing Strategy, Consumer Behavior, New Product Development, and Integrated Brand Communication. Additionally there are courses in Strategy and Entrepreneurship that touch on these areas.
Jake: Hello, with the advance in social media as a desired format, are there new courses planned to look at the impacts of marketing in the social media landscape?
Art: Jake, good question!
Art: We are offering a seminar series on Digital Marketing, where social media will be one of the topics included in this series. Also, each faculty member incorporates recent trends into their courses as they feel appropriate. For example, in my Services Marketing class we discuss how companies are using Twitter to identify and recover from service quality problems (under a topic called Service Recovery).
Art: Right now there isn't a plan to have a separate course on Social Media, but rather to address the topic through these other courses & seminars.
Nick: Does Booth offer any lessons specific to marketing for non-profit organizations, especially with regards to the struggle between spending a dollar to market a service vs spending a dollar to provide a service?
John: We do have some great opportunities to get involved with non-profits. One is to participate in a Social Venture Lab, where you'll get to work directly with a real non-profit while being in school and getting to leverage the knowledge of your peers and the Booth faculty. There is also a new Social Venture class being offered. I think you'll find that both are great avenues for getting your questions answered!
Moderator: Hello everyone,
Moderator: Just a note to say that we are about halfway through the chat. You've had some great questions so far. Please keep them coming!
Moderator: Also, if you want to learn more about our chatters today, please take a look at their bios, which can be found at http://www.chicagobooth.edu/boothconnect/fulltime/9.23.10MarketingChat.aspx
Elizabeth: Could you discuss opportunities for research, specifically perhaps, how have you been able to acess the Nielson data in the classroom?
Risa: Hi Elizabeth. The Nielsen data is still being transitioned, however there is a great class that I took last year called Data Driven Marketing. In the class, the professor gives the students access to analyze real IRI data which is pretty unique for a classroom experience. That class gave me a leg up when I was learning to use IRI data during my internship this summer.
DK2010: Hi Joanne, I am into analytical consulting currently. I want to get into hard core marketing post MBA. Will i face problems in this career track change?
Stephen: Thanks for the question! I am a career changer as well, coming from an analytical finance background, and I found great support here for identifying my transferable skills and experiences. I have classmates who have switched into marketing from a variety of other backgrounds, as well, so it definitely can be done!
KT: Hi Professor Middlebrooks! When assigning Management Lab projects, does the background and GPA of a student play an imp role? What is the criteria for project allocation?
Art: Hi KT. Management Lab is the only Marketing Lab course where students don't go through the regular bidding process. Interested students submit a resume and description of how their background & interests fit with the project they are interested in. The Director of Management Lab, Jonathan Frenzen, along with his faculty coaches, then determine which students are assigned to each project. I don't think undergraduate GPA is used as a criteria, but I'm not sure.
Vikram: What is the average/median age of an admitted student?
Joanne: That's not a statistic we share, but I can tell you that our average age is just shy of 28 years old.
Abhishek: Hi, does Booth offer any Social Media Marketing courses?
John: Right now I don't believe we have any courses dedicated exclusively to Social Media, but many of our courses include it as a component. I think you'll find that the approach at Booth is to start with understanding the consumer and his behavior, and from there you'll find the resources to put that knowledge into practice.
Kevin: I am looking to transition into a marketing career from a sales/entrepreneurship background but want to strengthen my quantitatve skills as well. Do you have any recommendations of concentrations to couple with marketing management to get this quantitative focus?
Art: Hi Kevin,
Art: Booth just added a concentration in Analytic Management. Economics & Statistics are also some of the other more quantitative concentrations that Marketing students select.
rflo: Can retaking the GMAT after obtaining a solid score reflect adversly on one's application?
Joanne: Not necessarily. We encourage you to re-take the exam if you feel it is not a good reflection of your skills and talents, or of you as an applicant. However, we also encourage you that, if your time and resources are limited, to instead strengthen other areas of your application, such as your essays.
gk: Can you tell me a bit more about quantitative marketing and its usage in industry? How has Google, Amazon, Microsoft, and even Facebook started using quantitative marketing? Which firms have hired people for this type of role?
John: I can't comment specifically on which companies have hired analytical marketers, but I can say that it has become a major trend in the industry, and we at Booth feel that we have a real jump in that we have been developing and teaching an analytical approach to marketing for several years. Tech companies--like the ones you cite above--have access to so much consumer data that being able to parse it with tools like regression analysis are increasingly vital to the success of their businesses.
Moderator: We are receiving many great questions; please bear with us as we try our best to answer them all.
Elle: Could you please introduce the uniqueness of Chicago Marketing? Is there some innovative classes
Elaine: Hi Elle! Booth has a unique analytical approach to marketing. Courses such as Data-Driven Marketing provide students with cutting-edge analytical tools that are becoming increasingly relevant in the marketplace. Classes like Marketing Research and Consumer Behavior offer students the opportunity to participate in real world projects. New Product Development is also a great course focused on product innovation. Additionally, I have been impressed by how supportive my peers are and how strong the marketing community is here at Booth. Additionally, the marketing faculty have consistently demonstrated an active interest and engagement with the students at Booth.
ABC: What classes do you think would best prepare a candidate for the Marketing curriculum at Booth?
Stephen: Thanks for your question! I think you'll find that all of the preparation you need to do can be done here at Booth. The introductory Marketing classes are really approachable. Some of the more advanced classes do utilize statistics and regression, but those are areas you can address here at Booth.
Mike912: Regarding work experience, do you count work experience up until the application date or the date of entry into the program? Also, I noticed that, unlike a lot of other MBA programs, Booth is not so presumptuous, but rather tolerant regarding people without work experience. Out of all the people without work experience who apply, is the percentage of admittance pretty much in line with the overall admittance rate?
Joanne: Work experience is looked at both ways; we consider what you've done thus far in your career and then consider what else you'll be exposed to and learn up to the point that you start the program. But, generally speaking when we talk about work experience, we talk in terms of experience to date. I don't have a specific answer to your other question, as I'm not sure of the statistics, but overall, we look much more closely at the quality of the work experience, not simply the number of years spent in that job.
chase: Hi, Joanne, I have a question about the interview. If a candidate is invited to interview outside the U.S, does this mean that this interview will be conducted by a alumni or a current Booth student?
Joanne: The choice about where to interview is up to you; if you choose to come to campus, you will be interviewed by an Admissions Fellow, a current 2nd year student. If you choose not to come to Chicago, you will meet instead with an alumnus. There is no preference either way for Admissions.
klughing: Professor Middlebrooks, I believe students in Booth come from different backgrounds. From your experience, what type of students do best in school?
Art: Hi. I don't see students with any particular background doing better than others. We get students from many different industries, functions, company sizes, private, public, non-profit. The students who do best in my classes are bright, inquisitive, willing to try new concepts, team-oriented, analytical, and proactive.
G-2350445: Hi, I come from a financial services and investing background and think that I will stay on that path after earning an MBA - but I see the value in the marketing education - is it feasible/typical for someone to want to purse both areas or atleast get more than just superficial exposure to the marketing curriculum? Thanks.
John: Absolutely! In fact, that's the beauty of Booth's flexible curriculum. Being on the quarter system, you'll get to take a lot of classes and can tailor your experience to your interests. As an example, most students achieve between 2 and 3 concentrations, so you'll definitely have the opportunity to get more than a superficial level of exposure to Marketing, even if it is not your primary pursuit.
SR: Have there been few exceptions where people with GMAT scores in the range of 640 have got an offer ?
Joanne: There are a wide variety of students at Booth, and that includes GMAT scores. You are welcome to apply regardless of your score, since we don't have a minimum or cutoff score.
Sandeep: Hi John, Based on your experience, can you tell us what are the courses in marketing that you find most useful for a career in prod mgmt in techonology industry? Is there any plan to add more courses with a focus on product management?
John: Data driven marketing is a great source for analytical folks who also have a passion for Marketing. Consumer behavior is also a good class where you get inside the consumer's head and learn what motivates them. We did a few tech-based cases in that class, including a really interesting one on Intel. I don't believe we plan to offer Product Management-specific classes, but you'll find that there are all sorts of lab classes where you can get involved in real companies (especially start-ups) in a role that interests you.
jerome: What would you say excites you about marketing for which reason you chose this concentration?
Risa: Hi Jerome. Marketing is a very exciting place! I think that many students who weren’t originally interested in the field become interested after taking classes and participating in the marketing activities here at school. Personally, I love the idea of really thinking about why consumers make the decisions they do and how we as marketers can influence those choices. There are many levers that marketers can pull and figuring out the best way to market a product or service takes very strategic and often analytical thinking. I like brand management specifically because it is also very similar to general management - the product or brand that you work on is like managing a business. It uses every part of my brain which is exactly what I’m looking for in a career!
G-3269279: Hi, I am planning to visit Booth on October 25th when the Booth Live (marketing) is on. As an international applicant, I do expect to get vaulable experiences at Booth community. To maximize this rare opportunity, is there anything I need to prepare in advance??
Joanne: Hi, just to clarify, Booth Live Marketing is on Friday, October 22nd (more info at http://www.chicagobooth.edu/fulltime/visit/boothlive.aspx). No, there is nothing you need to do to prepare in advance, just join us and take advantage of the opportunities to connect with students, staff and faculty.
ek: Consumers are constantly evolving how they interact with companies. How has Booth's curriculum evolved to stay current with the ever changing interface between the product, consumer and marketplace?
Art: We evaluate our curriculum every year, and professors are continuously updating their classes to include new cases, new tools, new concepts that are appropriate. For example, 2 years ago we added the concept of "company-sponsored" projects into 2 of our Marketing courses: Marketing Research & Consumer Behavior. This way students are working on current marketing challenges of real companies.
Daman: Do you have any stats on international student getting hired by CPG in Brand Management ?
Elaine: Hi Daman! This varies from company to company and even from year to year as the economic situation changes. Only some CPG companies recruit international students due to work authorization issues. However, there are still a number of opportunities. Some CPGs specifically target international students for international job opportunities. For example, a friend of mine interned this summer with Neutrogena in her home country of Argentina.
DhruvSuri: Hi for someone working in B2B marketing/sales, which courses would be the best intoduction to B2C marketing. Aditionally which professors and courses are best known in the technology marketing space at Booth?
Stephen: The introductory Marketing Strategy course will provide a great intro to B2C marketing. As you might expect, Consumer Behavior also includes a strong B2C component, as well, as do the other Tools/Electives classes. Professors Chintagunta and Hitsch have done some interesting research in the tech space, and this is also reflected in their classes.
Kristen: The last application essay question is extremely open ended. Do you have any advice or examples of the type of content they're looking for?
Joanne: The question is definitely deliberately open-ended. We are excited to see how students navigate through an ambiguous situation and find ways to give us information that helps to make the application complete. Only you can decide what that information is, and the format in which you want to submit it. Our best advice is to have fun with it and be yourself!
ankur: is it possible to take up strategic consulting in marketing after MBA? i mostly see people going into product marketing profiles in a product based company but not in marketing. an specific reason?
John: Absolutely! Several folks with Marketing backgrounds find ways to pursue that interest within consulting firms. In fact, two of last year's marketing group co-chairs went into consulting with BCG and Deloitte, so the opportunities are out there!
Moderator: We have 15 more minutes left in the chat. Due to the volume of questions, we may not be able to answer every one, but we will do our best!
Solly: do you have students from your program that are doing work in the renewable energy industry - especially in the developing world?
Joanne: We certainly do; one of the students I admitted many years ago is working with a company who builds and operates power plants (renewable+thermal) in the US and Europe and emerging markets over South America, Africa and Asia. She travels to Africa every few weeks from her home in Washington DC. We have many resources here, including the Energy Group, a student-led group that works to help students network and facilitate workshops and speakers on campus.
ABC: Hello! What market research firms recruit on campus? Also, how successful are Booth students in landing positions in this area?
Stephen: Hi, thanks for the question! We have alumni who work at Nielsen and IRI, as well as other marketing research firms. What I think has happened more frequently, at least recently, is that students will go into Consumer Insights groups within a company, such as MillerCoors.
GP: Given the focus on an analytical approach to marketing, how does Booth address the creative side--consumer facing communications like advertising and leveraging social media?
Risa: Hi GP. Booth does a really good job of laying the foundation for you and then giving you the resources to explore the aspects that you enjoy – through case competitions, lab classes, student group activities, etc. For example, I’m the Social Media Co-Chair for the Marketing Group which has given me and my classmates more opportunities to learn about the space.
jollyholly: In terms of brand management, are there any international students who successfully go into this area ? Since brand mangament usually have some cultural gap...
Elaine: Hi Holly! There certainly are international students who successfully go into this area. I think many companies value diversity of backgrounds and cultures. One of my classmates who interned with me at American Express this summer is from Venezuela. Many of the companies who recruit Booth Marketers are global companies that value international experience.
mithilesh: Hi, I am from Automobile company working in Purchase group. I would like to shift to marketing. How much my previous experience can help me? How can Booth help me in my transition?
John: While it's not a perfect analogue, I was working in the Utility industry prior to school and had no experience in Marketing. I think you'll find that many Marketing roles have a strong general management component, so any cross-functional experience you have will be a big help. A ton of people come to Booth looking to make a career change, so you'll find that groups like Career Services and student groups, like the Marketing Group, really emphasize providing resources to career changers. We also have a great community of second-year students who are typically willing to share their experiences and lessons learned in making a career change. I never found myself at a loss for help or information as I made my career change.
Hem: I am 31yrs old, but have great career progression and have been working in a big semiconductor company. Would Booth consider me as an older applicant? I understand that admissions is a hollistic approach and every story is different, but how much value is given to the age.
Joanne: We do not consider students in context of age; we evaluate based on experience to date. For instance there are many applicants in their late 20s or early 30s who, for various reasons (school, family matters) have only a few years of work experience. So, your job is to tell your story based on your work experience, your goals, and timing--why is now the right time for you to consider a full-time MBA program?
gregn: I have a general admissions questions. Is there an advantage to apply round 1 vs. round 2 for reapplicants?
Joanne: No, we encourage you to apply when your application is most complete and the best reflection of you as a person and future MBA student.
PraveenK: For the 2nd year students, have you found alumni to be helpful? Have you been able to find alumni within the fields you are pursuing?
Elaine: Hi Praveen! I found alumni to be extremely helpful! I used the Booth Community Directory to reach out to a number of alumni during my internship search. Alumni were always happy to speak with me and help me out. I also found that the Booth alumni at American Express were very supportive during my summer internship. Additionally I found that second year students were an amazing resource during my internship search my first year.
KevinL: Good morning All. What are some international marketing programs that Booth sponsors?
John: You'll find that Booth has a lot of international programs that you can tailor to your interests, including Marketing. We also have relationships with several companies looking to fill international roles. So while there may not be a specific program already out there, you'll find that you have the flexibility to tailor your time here to meet your needs and interests.
G-2302999: How would you characterise the differences in philosophy, curriculum, research approach, research priorities and teaching methods between the Kilts Center for Marketing and the Marketing Departement at Kellogg?
Art: Hi, thanks for your question. The Booth marketing courses go beyond teaching just current marketing tools to teach the deeper disciplines that undergird key marketing concepts: e.g. economics, consumer psychology, statistics. What we hear from our Marketing & General Management alumni is the following: that even though the tools/techniques of Marketing change rapidly, these underlying principles do not. As a result, they often share things with us like "the Booth education wears well over time".
Art: In terms of our Marketing faculty, our faculty are focused on empirical research (vs. case studies) ... i.e. using empirical data to answer important questions in Marketing. That's where our new relationship with Nielsen comes in -- the Kilts Center is becoming the academic clearinghouse for 3 of Nielsen's major databases. This is precisely the type of data that our faculty are interested in for answering really thorny Marketing questions ... like "What's the long-term impact of advertising on a brand"?
Art: In addition, we have a very strong Quantitative Marketing group.
Sunil: Hi, and thank you for taking the time to field questions. What preparation in statistics is required to succeed in the marketing concentration (or even generally) at Booth? I have no formal training through coursework but have learned about various methods (correlations, ttests, ANOVAs, ordinary and logistic regressions, etc.) through work experiences. Is this adequate?
Risa: Hi Sunil - You'll have no problem with your background. I actually had no formal training either, and I didn't have any past experience working in statistics before I started school. In your first quarter, you'll take a statistics class - the one I took was excellent and I learned a ton. I'm now much more confident in the subject and was able to take another heavy statistics course later in the year. Don't worry - there are many students in your boat!
ek: Stephen - I see you have a background in retail and I am interested in pursuing a career in retail. What sort of courses and programs does Booth offer that support retail careers, relating to marketing, strategy or general management?
Stephen: Hi ek. Our Career Services team has relationships with retailers, and we have plenty of students (such as myself) and alumni who are either currently in retail or who have retail backgrounds that you could leverage. There is also a Retail, Apparel & Luxury student group that is specifically devoted to supporting students who are interested in retail.
Tanny: Hi,I have a 4 years experience in ERP Consulting.I would like to learn aboutconsulting in Marketing Strategy with a focus on sustenable global enterprise.Would I be able to make this switch from IT consulting to Marketing StrategyConsulting,especially from a employment perspective for an international student.Thanks.
Art: Hi Tanny, funny you should ask. I made this exact same switch -- from IT prior to business school to Strategy/Marketing consulting after my MBA. It's certainly possible! I can't tell you if there are any nuances for international students. I do know that the major global consulting firms hire a lot of international students.
Tanny: Hi,I have a 4 years experience in ERP Consulting.I would like to learn aboutconsulting in Marketing Strategy with a focus on sustenable global enterprise.Would I be able to make this switch from IT consulting to Marketing StrategyConsulting,especially from a employment perspective for an international student.Thanks.
John: A lot of people come to Booth looking to make a career change. A big plus is that Booth's flexible curriculum allows you to front-load your schedule with classes that are of interest or will help you in your internship pursuit. For example, you can take several Marketing classes early on, and that will help you when it comes time to interview for Marketing Strategy Consulting roles. Given that you already have consulting experience, I think you're well positioned to make the change you describe and that the resources at Booth, from Career Services to student groups like the Marketing Group, will provide a lot of resources to help you make that change.
PraveenK: Can you speak to the application review process? As in, who the audience will be reviewing our applications (students,staff, faculty, etc.)? Also, how many different individuals will be reviewing a single application?
Joanne: Sure...each application is reviewed by a second-year student, known as an Admissions Fellow. Then, the application is reviewed again by a staff member. At that point, a decision about an interview is made. After the interview (if it is offered), the application is reviewed again by admissions staff to determine admission to Booth. So depending on how far a student gets in our process, the application could be reviewed many times, and all decisions are ultimately reviewed by the Associate Dean.
jratbooth: The essay slide directions mention that the slides will be printed out and added to one's file for review. Is this how they will be reviewed, or will they also be viewed on a monitor? What size will they be printed out? And will they be printed with margins on the pages?
Joanne: Correct, essay #3 is printed, in color and reviewed on paper, not on a computer. We do not adjust margins, but print out exactly what the student has submitted. Each slide or page is printed on 8.5x11 paper.
Moderator: The chat will be closing in 5 minutes. We will answer as many remaining questions as possible.
Tanny: Hi,I want to make a switch from IT Consulting to Consulting in Marketing Strategy..does Booth have any concentration where I would be able to apply my consulting skills in the Marketing industry
Elaine: Hi Tanny! I have a background in management consulting. While this isn't quite the same as IT Consulting I found that my background has been very useful in my Strategy and Marketing courses as well as my summer internship in marketing. I'm sure that you would find the skills you learned in Consulting very useful in both your coursework and your internship.
suneel: I have also same question as gregan, I heard its better to apply in roung 1 than round 2 if you need any scholorship
Joanne: Not necessarily, though certainly there are some specific Fellowships that will only have one recipient and may be given to Round 1. In that case, that Fellowship is no longer available for Round 2 or 3 applicants. But general Chicago Booth merit-based scholarships are given out at about the same rate between Rounds 1 and 2.
ABC: Hi! Does market research include an avenue for getting into product development? I'm new to Marketing and just want to figure out what path makes the most sense.
John: I think the biggest misconception out there about Marketing is that it limited and just about advertising. Marketing is becoming more and more of a general management discipline, and I think you'll find that learning about Marketing will help you get involved in many different aspects of a business. Depending on the size of the companies you recruit with, you might find that some ask marketers to specialize more than others (for example, Market Research and Product Development could be separate at larger companies), but a smaller company might ask you to wear more hats, and the versatility of a Marketing education will allow you to do so effectively!
Elle: hi, if i submit my application early, does it mean i can get interview early
Joanne: Perhaps, but only if your application is complete. We only distribute files for evaluation that are complete. If yours is among the first, you may hear about an interview early on in the process but generally speaking, this is a random process with no preferences for the date or time of submission.
Suhas: Hi. Sometime back I saw a print ad talking about how after becoming a financial powerhouse Chocago School of Business is now trying to become a marketing powerhouse. How does Booth plan to achieve this?
Art: I think we're already there in terms of capabilities (e.g. faculty teaching & research, curriculum, great recruiters, successful alumni), but the awareness isn't as broad as we'd like it to be. Hence the advertising. One thing I think will have a big impact is the new relationship we have with Nielsen to be the academic market clearinghouse for 3 of their major data-sets. Also, for prospective students, we are doing many different activities & events to get the word out (like this Marketing-focused chat).
Jonathan: For the second year students, did you consider M.S. programs in marketing? Why did you choose an MBA program with marketing concentration instead?
Stephen: Hi Jonathan, thanks for the question. I didn't consider an MS program, myself, so I can't speak to the differences, but I can tell you what attracted me to an MBA program. My long-term goal is to be a general manager. I felt like marketing was a great addition to my skill-set, but to be a good general manager I would need to learn how to do more than marketing -- I need to learn how to manage people and organisations, how to think strategically, and how to foster innovation (amongst many, many other skills, or course), which are all components of an MBA program. I would encourage you to think about what your long-term goals are and how the two degrees would support those goals differently.
Jonathan: With the consumer market being heavily tied to the economy, are you worried about job prospects or ROI?
Risa: Hi Jonathan, that's a great question and one I would have asked if I were in your shoes. I'm happy to report though that students here have gotten really great job placements, even in the last couple years. In fact, we're already seeing many companies coming to campus to recruit for marketing roles this year. Our Career Services department has done a really good job of building strong relationships with companies that recruit marketers and from my experience, those companies are very happy with the Booth talent they hire. As a result, even in the downturn they are still hiring from Booth.
SR: Hi John wht is the acceptance rate for ppl from software/IT consulting field as they belong to the maximum number of applicants?
Joanne: We don't have statistics available at this level of detail. We see applicants from a wide range of fields and industries and do not have a quota or preference for any specific career or background.
Angela: Professor Middlebrooks: I am wondering how the marketing program at Booth addresses sustainability and corporate responsibility. It seems that more marketers are incorporating these functions in their strategies. Thank you.
Art: Hi Angela,
Art: There's a social entrepreneurship lab, a social ventures class, and a clean technology lab being offered.
Tanny: Majorly companies for which marketing profiles come to recruit from campus.Is it product mgmt,marketing strategy or market research
Elaine: Hi again Tanny! Companies come to campus to recruit for a variety of of marketing positions including product management, marketing strategy, marketing research, and marketing consulting. Many companies recruit for multiple positions so you will have the opportunity to explore many different career options within the field. Additionally, companies come from a variety of industries including health care, CPG, finance, services, and tech.
Art: Thanks so much for joining us on the Chat. For more information, please consider visiting us for the "Booth Live Marketing" event coming up on October 22nd. Have a great day!
ek: Given that this is a marketing chat and branding is a germane subject, why did the program rebrand as Chicago Booth after being known as Chicago GSB for so many years? Has anything changed?
John: Well, the short answer is that we received the largest donation ever given to a business school ($300 million) from David Booth, one of our alums. That prompted the name change. But I think, from a marketing standpoint, the name makes sense because Mr. Booth has really embodied the values of the school, and they've led him to great success. As for what's changed, Mr. Booth's donation will go towards adding lots of different resources, most notably towards retaining and adding to our world-class faculty.
Jennifer: Thanks for chatting with us today. I hope we were able to answer all of your questions. Please join us for the Chicago Booth Live event on October 22nd.
Hem: Hi All, just wanted to say 'Thank you' for taking time out of your busy schedule to be here answering all the questions so elaborately. Booth just got moved to the top of my list. I am still skeptical... is 2 years enough to absorb all that you have to offer? :)
Elaine: Hi Hem! No, 2 years is definitely not enough time. I wish I could stay longer! Booth has a lot to offer so you'll have to decide how to make the most of your time here and focus on the things that are most interesting and important to you personally.
Elaine: Great chatting with you all! Best wishes!
ankur: hi, i have five years of experience in pre sales and psst sales of software products. can this be considered as a relevant work experience if i apply for marketing jobs in product based companies after MBA? secondly how can Kilts center help me if i wish to get into marketing functional domain of a management consulting firm?
John: I think you'll find that your past experience will be a big help. Career services will offer numerous programs that will help you craft your "story" as far as how your past education and work experience makes you well-suited for the job you are pursuing. The Kilts center, along with a lot of other marketing resources at the school, will help you develop a strong marketing background that will help you in whatever role you pursue. The great thing about Booth is that you'll have the flexibility to customize your experience towards exactly what you want to learn and accomplish.
John: Thanks everybody--it's been great chatting with you, and I hope you'll join us in the Booth community!
ankur: Hi Professor Middlebrook, what kind of previous work experience is preferable for fellowships offered by the Kilts center?
Jennifer: Hi! No and actually the bulk of our fellowship recipients have come from non-marketing backgrounds. Students who select marketing as one of their concentrations when applying and who make are pursuing a career in marketing are considered.
Risa: Thanks everyone for participating. I hope you found this session helpful!
Joanne: Thanks everyone! If you're in Europe, please join us at our events in London, Munich, Paris, Frankfurt and Zurich. More details online at http://www.chicagobooth.edu/fulltime/admissions/events/europe.aspx.