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People love shopping or they just love loitering in the malls watching all the display pieces. Some feel happy when they do retail therapy. This retail business is part and parcel of people’s lives and you just cannot imagine your life without retail outlets. This business is growing exponentially and it assures job opportunities both directly and indirectly to many people. Bigger brands are vying with one another to secure spaces in malls.
Retail Management -Its Speciality!
It is a management course dealing with retail management and marketing.
This course was started some decades ago seeing the immense possibilities in the retail area. The course focuses on retail management and marketing. The way businesses are done have changed and e commerce players have a strong foothold in the market. So, with the changing business scenario new methodologies and strategies need to be adopted to satisfy the customers.
The Course Duration!
The duration varies from institute to institute. Some institutes offer a two-year programme while at some places it is a one-year programme. At some institutes the course extends to more than two years. The distance mode has a varied schedule.
Students who have cleared the qualifying examination can pursue the course. Some highly ranked institutes conduct entrance exams to get the best students. Only meritorious students are selected through the screening process. Rankings in the entrance exam play a vital role to secure admissions. The aptitude of the students play a great role during the interview.
About The Course!
Retail is the major part of business and the business is witnessing a lot of challenges and with the entry of e commerce players the retail segment is witnessing a slump. To overcome technological and other challenges, professionals who are qualified are needed. Retail management offers solutions for all the problems mentioned above. These professionals are trained theoretically and practically and they offer solutions for the retail chains.
Apart from learning the basics of management the students learn about basics of retailing, supply chain network, marketing management, sale, consumer behaviour, electronic retailing, etc. The professionals are trained to adapt to the changing business scenario. Out of the box thinking is also entertained. People who love sales and who have a craze for brands will enjoy learning the intricacies of the course.
Like all management professionals these students improve their analytical and communications skills, leadership skills and decision-making skills with the completion of the course. Students who have a passion for sales will enjoy learning about varied strategies which will help to improve sales. The subjects are corporate social responsibility, business economics, business communication, organizational behaviour, business statistics, business law, international logistics and supply chain management, global retailing, business ethics, etc.
Live questions and answers sections with captains of industry, seminars, international immersion programmes, internships, guests lecture series will help students to gain a lot of insight in to the challenges faced by the industry. Case studies and panel discussions also help students. The students are industry ready when they walk out of the institute. Project work at the end of the course help students to improvise. They also gain a new perspective on retail aspects.
These professionals can work as store managers, retail planner, sales manager, logistics manager, brand manager, category manager, product manager, research analyst, etc. Plenty of opportunities are lined for professionals from the field. They could also start their entrepreneurial journey equipped with the right knowledge and skill sets. Management in retail is preferred by students who would want to explore the vast world of sales.
The author is a regular contributor to online magazines on education. He is an expert in the field and his views on post graduate diploma in retail management can be viewed at itm.edu.
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