Retail Management - Courses, Colleges and Careers
Retail in India is a dynamic field in which the likes of the Ambanis, Birlas, Biyanis, Goenkas, Piramals and Tatas have created their own niches. Retail outlets play a major role in the way Indians purchase items these days. Vast malls spread out over a large area, the bright lights, soft background music and air conditioning are major factors which contribute to the shopping environment of today. Not only does this make shopping less of a hassle and struggle, but this can also create job opportunities and rewarding careers for many, by way of professions in accounts, administration, finance, human resources, inventory, logistics, management, marketing, sales, security and storage space optimization.
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The Master of Business Administration (MBA) course specializing in Retail Management generally has a duration of at least two years.
Retail management may be a good career option for you if you have an avid interest in sales markets, business diversification, campaigning, advertising, market research and market segmentation. You could explore new companies introduced to the market, see how they innovate with new products and how they fare with established companies.
Some institutes offering diploma courses in retail management conduct their entrance exams as well.
Basic qualification to apply for this course is 10+2 or an equivalent qualification.
Topics covered in Retail Management
You may be taught subjects such as introduction to retail management concepts, trends, market segmentation, pricing, merchandising, relationship marketing and the role of information technology (IT) in retailing. It may help your career if you are aware of brands, marketing strategies and retail philosophies.
The two-year MBA program is usually divided into four semesters.
- The first semester usually covers basics of accounting, communication, economic analysis, behavioral science and fundamentals of retailing.
- The second semester generally entails subjects like marketing research, merchandising management, shoppers' behavior, human resource management and financial management. Legal aspects of management should also be covered.
- In the third semester, you will usually find subjects like strategic management, franchising in retailing, Lean Six Sigma in retail, mall dynamics and real estate management and retail branding and Customer Relationship Management (CRM).
- The last semester would probably cover subjects like advertising and sales promotion, rural retail, e-retailing, business communication and retailing of insurance products and financial services. A project or dissertation may be required at the end of the course.
Top 10 Colleges/Institutes for Retail Management
|1||Amity Business School - Noida|
|2||Abhinay Institute of Technology and Management|
|3||Birla Institute of Management Technology|
|4||Career Care Institute of Management Studies - Bangalore|
|5||GD Goenka University - Haryana|
|6||International Institute of Fashion Technology|
|7||Jagan Institute of Management Studies|
|8||MICA - Ahmedabad|
|9||National Institute of Retail Management|
|10||Symbiosis Centre for Distance Learning|