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Jagpreet
15 March, 2023
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A Distance MBA in Retail Management is a two-year postgraduate programme. The curriculum of this course is designed to cater to the needs of the industry, with a focus on topics such as retail store management, sales management, consumer behaviour, and logistics.
As the retail industry continues to evolve with globalisation, more than traditional marketing techniques are required. Therefore, a Distance MBA in Retail Management is an ideal programme to equip students with the necessary skills, including leadership, budgeting, accounting and finance, marketing, and customer focus.
In addition, this programme prepares students to adapt to the changing landscape of retail marketing, ensuring they remain competitive.
An MBA programme in Retail Management emphasises the development of expertise in the transportation, sales, production, and management of goods. It also encompasses areas such as business analysis and servicing.
Effective Retail Management requires strong managerial skills to ensure that the market runs smoothly and efficiently. Therefore, aspiring individuals seeking to enter the retail sector would benefit from pursuing this degree.
The curriculum is most suited for a progressive and expanding market like India, as it provides essential education and training in crucial management skills needed to optimise the retail process.
Additionally, the burgeoning growth of organised retail has resulted in a wealth of well-paying job prospects and excellent career opportunities for those with an MBA in Retail Management.
Enrolling in an MBA programme in Retail Management is an apparent choice if you want to pursue a career in the retail industry or switch to the retail sector.
This programme equips you with the two essential skills required to succeed in this competitive industry – effective communication and business management. These skills are fundamental yet crucial in shaping your career development when pursuing an MBA degree.
Apart from these general benefits, there could be specific reasons why individual students may choose to pursue an MBA in Retail Management.
Below are some individualised reasons why students may opt for an MBA in Retail Management:
The primary objective of any employee is to achieve dynamic professional growth. Pursuing an MBA in Retail Management provides diverse growth opportunities across various sectors. Regardless of the initial sector they choose, individuals can pivot to a different industry, establish a career there, and even switch again if they desire.
In addition, top management profiles in the retail sector exhibit a broad range of experience, which enhances their ability to lead successful business strategies.
The perpetual significance and substantial investments in the retail industry allow MBA graduates in Retail Management to explore diverse opportunities in hierarchical structures and various types of businesses and ventures. This versatility enables them to grow in a multi-faceted manner and gain extensive experience, making it easier for them to negotiate higher salaries and job perks.
MBA in Retail Management focuses on developing methods and strategies to facilitate a seamless and efficient transition of products or services to the end consumer. As consumers are an integral part of the market structure in any industry, the retail sector remains a perpetual and relevant area of business. As a result, Retail Management offers a continuous stream of opportunities for growth and development.
MBA in Retail Management involves direct interactions with consumers and other stakeholders, including Suppliers, Distributors, Franchise Representatives, and Store Managers. This programme enables individuals to develop diverse interpersonal skills, such as effective communication and leadership styles tailored to the specific group they are dealing with.
For any product or service to succeed, it must reach its intended consumers. This means businesses must invest in various channels, such as direct supply, online sales, doorstep delivery, franchise stores, and retail stores. These channels require significant investments, making the retail sector one of any venture’s most highly invested areas.
The career prospects for individuals with an MBA in Retail Management are vast and diverse, with endless job opportunities in various retail sector fields. In addition, the retail industry has seen a significant number of outlets due to the growing population, leading to an increased demand for skilled MBA graduates to manage and generate revenue for these stores.
Graduates in MBA Retail Management are sought-after by both private as well as government sectors. Their roles can vary from front-end tasks such as Marketing & Selling Products and Customer Interaction to back-end tasks that include Customer Relationship Management (CRM), Retail Analytics, Product Development, and more.
Although it is still being determined what the future holds, it is evident that the retail sector will continue to expand and evolve to provide the best customer experience, whether it is through online or offline channels. This assures that the demand for MBA in Retail Management graduates will remain high, with a promising future for those pursuing a career in this field.
Distance MBA in Retail Management offers several benefits for individuals who wish to pursue this course. Here are some reasons why you may consider seeking a distance MBA in Retail Management:
Enrolling in an MBA programme in Retail Management through distance learning provides individuals with the flexibility to continue working while pursuing their studies. They can balance their academic commitments with their professional and personal responsibilities without relocating or disrupting their current lifestyle.
Distance learning can be a cost-effective option for individuals seeking degrees in courses like MBA in Retail Management. Compared to on-campus programmes, distance learning can eliminate expenses such as commuting, housing, and other campus-related costs, making it a more affordable option for many students.
With the flexibility of distance learning, candidates can pursue the course while continuing their current job or other activities without interruption.
The retail industry is vast, and many job opportunities are available for MBA graduates in Retail Management. Pursuing a distance MBA in Retail Management can help you develop the necessary skills and knowledge required to pursue a career in various areas of the retail sector, such as Merchandising, Supply Chain Management, Sales, Marketing, and more.
An MBA in Retail Management provides students with an in-depth understanding of the essential principles of retail management and equips them with the necessary skills to handle practical challenges.
In addition, this programme teaches students about every aspect of the retail sector, from sourcing products from manufacturers to displaying them on retail shelves.
Retail Management involves several stages, such as Product Manufacturing, Transportation, Logistics, and Placement of the final product in the store for customers to purchase.
Here’s the semester-wise syllabus for Distance MBA in Retail Management:
| Semester I | Semester II |
|---|---|
| Management Theory and Practice | Business Communications |
| Organisational Behaviour | Essentials of HRM |
| Marketing Management | Business Law |
| Business Economics | Strategic Management |
| Financial Accounting and Analysis | Operations Management |
| Information Systems for Managers | Decision Science |
| Semester III | Semester IV |
|---|---|
| Introduction to Retail | Global Retailing |
| Consumer Behaviour | International Logistics & Supply Chain Management |
| Merchandising Management | Marketing Research |
| Sales Management | Business: Ethics, Governance, and Risk |
| Retail Store Design and Location | Research Methodology |
| Retail Store Operation and Inventory Management | Project |
The scope of an MBA in Retail Management is extensive, thanks to the needs of the modern world. In contemporary times, we can witness a plethora of retail stores, unlike in the past.
Furthermore, with the emergence of more malls, supermarkets, retail stores, and online retailers, people prefer to shop online and get home deliveries to save time.
As a result, this sector is growing, opening up more career opportunities. Some job profiles for MBA in Retail Management graduates include
| Job Role | Description |
|---|---|
| Operations Manager | An Operations Manager serves as a leader within an organisation, with the power to create policies, develop plans, and formulate strategies. |
| Administrative Officer | An Administrative Officer is responsible for answering phone calls, responding to emails, preparing reports, and creating budgets for the year. |
| Marketing Manager | A Marketing Manager oversees and assists in developing sales campaigns, incorporating feedback from sales, creative, advertising, and research teams. Organisational skills are crucial for a marketing manager. |
| Senior Operations Manager | A Senior Operations Manager is responsible for supervising the production of goods or services in an organisation. They oversee multiple departments and ensure that the company’s products or services meet customer expectations. The Operations Manager is responsible for ensuring the smooth and effective operation of the company’s activities. |
| Retail Executive | A Retail Executive is responsible for making important decisions for a store and its chain. They oversee various types of businesses, such as selling electronics, clothing, or even automobiles. |
| Brand Manager | The role of a Brand Manager is to ensure that a company’s brand identity is properly presented to the public. This includes setting objectives, creating strategies, and leading campaigns to drive marketing initiatives and advertising efforts. |
| Job Role | Salary (INR) |
|---|---|
| Operations Manager | 7 LPA |
| Marketing Manager | 7 LPA |
| Senior Operations Manager | 13 LPA |
| Retail Executive | 2.4 LPA |
| Brand Manager | 12 LPA |
Opting for a distance MBA in Retail Management can be a highly profitable career choice, especially considering the constantly evolving nature of the retail industry.
The retail sector is one of the most significant contributors to India’s GDP, accounting for approximately 10% and generating about 8% of annual employment. In terms of size, India’s retail industry ranks fourth in the world, and experts predict that its domestic retail industry will reach a value of $1.76 trillion by 2026, growing at an average CAGR of 5-6% in the next 5-6 years.
Although a significant part of India’s retail industry is still unorganised, with about 85-90% of it being so, the organised retail sector, comprising 10-15%, is expected to grow at an accelerated pace in the coming years.
The conducive factors like the easing of FDI and the emergence of the e-commerce industry have also propelled the growth of the organised retail sector.
The course duration for MBA in Retail Management is 2 years.
Yes, a distance MBA in Retail Management can be worth it for those looking to advance their career in the retail industry while maintaining their current job and personal commitments.
An MBA in Retail Management graduate can work in various roles in the retail sector, including front-end jobs like sales and marketing or customer-facing roles and back-end jobs such as supply chain management, inventory control, retail analytics, product development, and more.
Yes, an MBA in Retail Management has a great scope in today’s world as the retail industry is one of the most significant and continuously growing industries.
No, MBA in Retail Management is not a difficult course.
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