Business management is one of the most desired skill sets in the market. With the growing economy, there are a number of corporate organizations and small businesses sprawling in the modern land. Retail businesses make up for a large part of the economy with most people preferring to buy and sell in person, rather than through a third party. MBA in retail management is one of the top courses to train individuals in the field of retail management.
Retail management is one of the most growing industries today. It refers to fulfilling the needs of the customer who visits a particular store. Also accounting for attracting new customers and retaining the existing ones. This process is extremely important to keep the business running and revenue flowing. There are various tools that an individual learns in an MBA in retail management from top colleges like Netaji Subhas University which can come in handy in the field.
What constitutes an MBA in retail management?
MBA in retail management teaches an individual everything from sourcing the products from different manufacturers to make it reach the target customers. The various processes involved in retail management are product acquisition, transportation, logistics, marketing, selling and customer servicing. It assists the customers to shop without much hassle and saves the precious time of customers, ensuring that they get the best experience possible.
Retail management courses are designed to cultivate supply chain management and logistic skills as well as sales and marketing techniques. Colleges like Netaji Subhas University and Amity business school provide students with the necessary skills to learn how to manage retail businesses
Who should opt for an MBA in retail management?
Retail management requires a decent understanding of the commodities market, market diversification and market segmentation. Candidates require a certain amount of critical thinking skills as well as interpersonal and communication skills. Students having an interest in the retail sector must consider doing the course. It is important to understand the psychology of customers and what attracts them to buy from a business.
What does the course teach an individual?
An MBA in retail management renders a student with a variety of tools to deal with customers on a personal level, marketing business ideas and making transactions. In the business sector, everything is dynamic and the industry needs and standards are revised accordingly from time to time. The course aims to train students to identify issues in the present working of retail stores and outlets and come up with proficient solutions that can increase the business output. The various skills which the course teaches an individual are:
- Strategic management
- Retail operations management
- Retail planning
- Retail sales
- International retail management
- Direct and network marketing
What are the various job prospects?
MBA in retail management is aimed at building the skills that can be applied in the professional environment. Beyond the theory and concepts, a practical sense of the customer’s needs and wants is what is important, as well as experience with the problems that can occur in the supply chain. This solution-oriented approach can only come by experience and not by theory. Colleges like Netaji Subhas University help cultivate these practical skills. Some of the job opportunities that one can get are:
- Retail store management
- Retail store manager
- Regional manager
- Branch manager
- Service manager
- Supply chain manager
- Data analyst
Top colleges to consider
With thousands of MBA colleges around the country, the confusion to find a good college can be debilitating. There are multiple factors to be considered when looking out for colleges. From placements to course curriculum, an institute must be assessed in all different departments to understand what’s best for you. Some of the top colleges for MBA in retail management are:
- NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES, MUMBAI – NMIMS is one of the top MBA colleges in India. The admission process for MBA in retail management entails a qualifying test and a cutoff of 60% marks in 12th board. The placements are a strong point and students graduate with a decent package.
- NETAJI SUBHAS UNIVERSITY: The college has one of the best teaching faculty and ensures that the quality of education is not compromised under any circumstances. Placements are also a strong point and almost all big firms visit the campus to pick the top talent.
- SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES: The college has a modern infrastructure to offer with all facilities on campus and believes in the practical and hands-on engagement of students through workshops, projects and internships.
Conclusion
It is an evergreen branch of management studies and it is important for an aspirant to completely immerse themselves into the various facets of the specialization. A good college is a boost to one’s career, but what’s more important is a consistent drive to learn through experiences.
