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Prioritizing and learning about marketing is important. But I think it is a leap to go from there to taking formal business courses. Many MBAs (I suspect most
by solman 5y ago
Prioritizing and learning about marketing is important.
But I think it is a leap to go from there to taking formal business courses.
Many MBAs (I suspect most) will tell you that what they learned there doesn't remotely make up for the cost in time or money of attending. (Most of those pleased with their experience will focus on the networking and career opportunities that opened up to them).
In my experience, most business knowledge is acquired much faster by combining actual practice with learning and a good feedback loop (and in many cases, practice and a feedback loop alone outperform formal education).
I believe that this is especially true of many aspects of marketing. You learn things when you are ready to learn them. Important marketing lessons that are found in textbooks will go in one ear and out the other without experience that allows you to recognize their importance.
I suppose this is why the case method remains popular in many business schools, although I have no confident opinion about its effectiveness.
Bottom line: Its is important to prioritize marketing. But taking courses on it has far lower returns that teaching yourself: so low that I do not recommend it at all.
- nprateem 5y agoSome authors claim many markets are winner takes all, where the dominant firm takes 75% or more of the profits, with the rest split between one or two followers. So if you want to learn how to start one of those I think strategy is critical, not trying to retrofit one onto an existing product. It's like any architecture. Better to do the thinking before the building. But yes, it's far easier to learn anything when you're applying it too. Sure you could learn by trial and error but why not take advantage of the collective learning of an industry?