I experienced the same dilemma as you are now. You can do a lot with an MBA. It’s very business generalized. If you’re pursuit of marketing and communication occupations falls through, the MBA can open other doors for you. If your heart is set on communications and you are certain this should be your path, go for it. Most graduate degrees carry the same amount of value across companies. I work in the newspaper industry in advertising. I have a Bachelors in Organizational Communications. You don’t need a graduate degree in my field, but I chose to get a Master of Science in Organizational Leadership and Quality (MSOLQ), which is very transferable to other things and sets me up for a management position (hopefully). It sounds like you may need to bulk up your knowledge relating to marketing and communication that you may not have had during your undergraduate schooling. My advice is to go for the MA in Comm. It sounds like this is where you have passion and that’s what’s important.

What you want sounds like brand management, which is very often a subconcentration of a marketing-focused MBA degree. Most MBA programs encourage 3-5 years of work experience before you apply, though, so I’d take a little more time to research your options. Talk to people doing the things you think you’d like to do and find out how they got there.