Retail management relates to the task of managing supermarkets and hypermarkets in strict business provisions. In India, the retail industry has seen a great increase in the past decade. From implementing new marketing techniques to expanding into businesses, companies have tried all gimmicks to attract the clients. This is one industry that works very clearly on the paradigm. The next time when you enter a Big Bazaar or Reliance Fresh supermarket to buy a product of your choice, try and analyze the different discount prices being offered. The structure these days are super fast and totally computerized.
Accordingly, retail management is requires you to be fully aware or alert of brands, marketing techniques, and retail philosophies behind winning the users.
You will basically require clearing the Common Aptitude Test (CAT) for getting into reputed colleges such as the IIMs or clear General Management Aptitude Test (GMAT) to get admitted to overseas universities for pursuing MBA.
Some of the best institutes providing courses in retail management are: NMIMS University, Mumbai MDI Gurgaon. You would have to appear for entrance exams to get entered to these colleges.
As a student, pursuing a course in retail management would offer you with knowledge in the following fields overall:
1. Introduction to Retail Management and Concepts
2. Role of Information Technology in Retailing
3. Retailing trends
4. Retail Pricing and merchandising
5. Retail Market Segmentation
6. Relationship Marketing in Retailing and all other topics
Retail management is an unconventional subject matter to say the least. It is option you must make if only you have the sharpness to understand the retail industry and leaning towards advertising as well. No doubt then, retail management will be a highly rewarding future.
What will be the cost- Fees of Retail Management
A course in retail management would cost you somewhere between 1 lac to 3 lacs annually depending on the college or institute. If you are pursue the course from a prestigious institute such as the IIMs, and then you would be charged optimally in the range specified above. In addition, if you are pursuing the degree from an international university that offers you chances to travel overseas, the fee would be higher.
The Salary Package for a sales executive or a floor manager averages anywhere between Rs. 15,000 - 25,000 depending on the scale of business you handle. Your responsibilities would mainly include managing customers on the floor and guiding them with purchases.
At a corporate level, you may job as business development officer as well.
Top institutes and colleges of Retail Management
1. Biyani Group of Colleges ,Jaipur
2. Jagan Institute of Management Studies ,New Delhi
3. Siva Sivani Institute of Management ,Hyderabad
4. Pearl Academy ,New Delhi
5. IBSAR Institute of Business Studies & Research ,Navi Mumbai
6. Glabal School of Business ,Delhi
7. School of Management Science ,Varanasi
8. A.S.M.R. Institute of Technology and Management ,Mathura
9. Advanced Institute of Business Management ,Faridabad
10. Ambedkar Institute of Management Studies, Visakhapatnam.
11. Indian Institute of Business Management & Studies (IIBMS)
12. Welingkars Institute of Management (We School)
13 Symbiosis Centre For Distance Learning
14 Indian School of Business Management & Administration (ISBM)