In this article, we will have an in-depth analysis of MBA in Retail Management course. This article covers topics such as – course details, duration, eligibility criteria, colleges, admission process, syllabus and career prospects.
What is retail management? What’s the scope associated with this MBA specialization? You will find answers to these questions in the coming paragraphs.
|Name of course:||MBA in Retail Management|
|Eligibility Criteria:||Graduate Degree|
What is retail management?
In simple terms, retailing deals with the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.
Retailing has been around the block for quite some time now. Retail markets, shops and door to door selling have been around the block for quite some time.
Retailers play an important role in bridging demand and supply gap of products and services. It is the final stage of distribution of a product or service (from manufacturing to reaching the customer in the end).
Earlier, brick and mortar firms (shops and stores) and door to door sales used to be the only forms of retailing. With the rise of modern technology, E-Commerce has caught retailing by storm!
With time, retailing has evolved. Shopping malls, E-Commerce websites and other multi channel distribution systems have made retailing sector bigger and better!
What is retail management, you may ask. Retail management deals with the techniques, processes and methods that helps drive greater sales and customer satisfaction by gaining a better understanding of the consumers of goods and services produced by a company.
Retail Management deals the following main domains –
- Store management
- Customer service
- Sales management
- Logistics management
- HR management
Retail sector is booming in India. With the emergence of E-Commerce sector, this growth is expected to carry on at a healthy rate! In short, retail management has got immense scope in India.
Let us check out some of the basic details about MBA in Retail Management –
MBA in Retail Management: Details
MBA is a general management program. It focuses on general management subjects. MBA in Retail Management is a specialization program. It focuses on the domain of retail management.
Type of course
It is a postgraduate level management education program.
The academic program is 2 years long.
Must possess a Bachelor’s Degree (3 or 4 year long course) from a recognized Institute/University.
Reputed institutes rely on merit based admission process. Marks scored by students in relevant management entrance tests (CAT, Institute-wise entrance tests etc) are taken into consideration. Deserving candidates are allotted seats after an interview.
Here are some of the important subjects present in MBA in Retail Management academic program –
- Organizational behavior
- Principles of Management
- Retail Marketing management
- Retail Management
- Retail Selling
- Managerial Economics
- Business Laws
- Business Communication
- HR management
- Finance management
- Production and Operations management
- Cost management and accounting
- Strategic management
- Information systems
- Business analysis
- Accounts Management
- Logistics and Supply Chain Management
- Customer Behavior
- Business Environment
- Marketing Research
Career prospects and job opportunities
As I mentioned before, retailing sector is quite strong in India. Traditional forms of retailing, E-Commerce and multi channel distribution systems are doing very well in India. In short, retailing sector will generate decent job opportunities in the future.
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Retail management professionals are recruited by –
- Shopping Malls
- Super Markets
- Retail Outlets (of various firms)
- Supply Chain Firms
- Logistics Firms
In the above mentioned firms, retail management professionals may don the following roles –
- Retail manager
- Store manager
- Operations manager
- Sales analyst
- Sales manager
- Brand manager
- Marketing manager
- Accounts manager