MBA in Retail Management26th June 2017
Career is today the most important thing in the mind of the young generation of our country. Students are focusing more on getting the best education to ensure promising career options. If you are researching about the career options, eligibility, future prospects, salary, and colleges for MBA (Retail Management) course, you are at the right place.
Retail management, as the name suggests, is the process of acquiring better knowledge and understanding of the products and services and methods to improve customer satisfaction. Many institutions in India offer professional courses aimed at providing the professional retail management training to youngsters. MBA in retail management is a postgraduate program offered by several reputed universities in the country. In this article, you will know about some of these institutions, their Retail Management MBA course structure, fee structure, future prospects, etc.
The admission to MBA (Retail Management) courses is granted through entrance exams like CAT, CMAT, MAT, XAT, GMAT, and some other private MBA entrance exams. The basic eligibility criteria for any post graduation course including MBA are graduation or equivalent qualification in any field from a recognized university. The eligibility criteria for retail management diploma courses are 10+2 or equivalent.
MBA (Retail Management) Course Duration and Syllabus
MBA program in Retail Management is a 2-year long course offered by many colleges across the country. The course can be availed through campus education or distant education.
The basic syllabus of MBA (Retail Management) program includes the study of various retail and marketing topics including retail management trends, concepts, relationship marketing, pricing, market segmentation, the role of IT in retail and more. The following subjects are usually taught during the 2-year MBA course.
- First semester: basics of accounting, behavioral science, economical science, communication and retail fundamentals.
- Second semester: marketing research, legal aspects of management, shoppers’ behavior, merchandising management, financial management and human resource (HR) management, etc.
- Third semester: strategic management, retail branding, mall dynamics and real estate, retail franchising, customer relationship management, and Lean Six Sigma in retail.
- Fourth/Final semester: IT and retail, sales advertising and promotion, business communication, rural retail, e-retail, retailing of insurance and financial products/services.
Top Institutes to Join
The following and many other institutes provide MBA (Retail Management) degree and diploma courses in India.
- Indian Institute of Management (IIMs)
- Indian School of Business, ISB – Hyderabad
- Amity Business School – Noida
- Chitkara University
- Symbiosis Centre for Distance Learning
- Abhinay Institute of Technology and Management
- Birla Institute of Management Technology
- Career Care Institute of Management Studies – Bangalore
The average fee for the 2-years course of MBA in Retail Management is 2 to 5 lakh rupees in various institutes of India.
Job Prospects and Salary Package
From the career and future perspective, MBA (Retail Management) is probably one of the best courses to join at the time. India is rapidly transitioning to become an online hub of the most organized retailers. The sector is already creating hundreds of jobs every year and is likely to generate even millions in the coming future. The average salary range in this sector is 5-7 lakh per annum.