It is a very complex question that what lies ahead of any student or professional post the completion of the MBA Program, one of the most popular and promising academic programs in the world. The program of MBA has undergone a considerable change in the past few decades and new specializations and majors have been added to its curriculum, the sole reason for this are the fast-changing business environment and management requirements all across the globe. What seemed infeasible a few decades back is certainly attainable now and this has changed the curriculum of MBA by a reasonable margin.
There are several revolutions, advancements, and innovations that have changed and transformed the entire landscape of business, management and commerce thereby directly impacting the curriculum and specializations for the MBA Program. Ivy league business schools such as Harvard, Wharton, Booth, Stanford and Yale had merely a handful of specializations for MBA Program five decades back; but with the fast-changing business and technological scenario, these institutions today are offering several majors in their MBA Program and it is, therefore, a very important and complicated choice for any student or professional to make while pursuing this program. Although there are several majors that are being offered in the MBA Program, one specialization which is in high demand and certainly offers a promising career is ‘MBA in Retail Marketing’.
Retail owing to its huge demand in every sector becomes an easy and promising choice for MBA professionals. The world of retail has undergone a considerable change and there are several reasons for it, one of the biggest of them being the IT revolution and the increasing preference of the consumers for organized retail.
Top retail giants in the world such as Walmart,Amazon, CostcoWholesale, Walgreens Boots Alliance, The Kroger Group, The Home Depot, Tesco PLC, Carrefour and Target has changed the course of retail and this multibillion-dollar ($25,000) industry is in need of qualified professionals who can identify the needs of the customer and satisfy them in the best manner possible. These giants are nowadays in requirement of professionals who have a good knowledge of customer need identification, supply chain, logistics, segmentation, and retail management. These are the reasons which certainly make Retail Marketing a promising career option for any individual.
The cycle that completes the Retail management chain is as:
There are several prestigious businesses schools in India that offer MBA in Retail Marketing such as:
Symbiosis Institute of Management Studies, Pune
Amity Business School, Noida
KJ Somaiya Institute of Management Studies and Research, Mumbai
Prince LN Weligkar Institute of Management Development & Research, Mumbai
The national average salary per annum for a Retail Marketing Manager is INR19,39,575 in India and these figures escalate by massive margins for nations like the United States and Germany where these professionals are being offered a package of $48,000 to $50,000. All of these facts and figures speak volumes about this career option.
So, in a nutshell, one can conclude that MBA in Retail Marketing offers a propitious career for the individuals who are dynamic, f foresighted, diligent, and willing to accept challenges.