MBA in Marketing vs Retail Management: Find the right path in 2021
Doing an MBA in Marketing is the dream of many fresh undergraduates in India. The fact that Marketing is a domain that employs the maximum number of professionals is known to all. Professionals in this domain are highly dynamic, as they have to live up to the demand of channeling their creativity in an efficient manner.
Living up to the demands of the profession is both challenging and exciting, which is why it attracts the sharpest minds. In recent times, marketing has diversified and has become a lot more specific in certain areas. Sub-fields like MBA in Retail Management and Digital Marketing have become specializations in their own right.
A Difficult Choice
At the same time, the importance and demand for an MBA in Marketing have not fallen. Students prefer it because of the wide scope of the degree which allows students to explore opportunities in different domains. Whereas, sub-fields like MBA in Retail Management, provide employment only in select sectors.
However, sectors like retail management are absorbing professionals rapidly, which means employment and career growth are guaranteed. Moreover, this trend is only going to continue in the years to come, meaning now is a really good time to join the industry with an MBA in Retail Management.
Scope & Opportunities
MBA in Marketing
Marketing is one of the core areas of management education. All businesses come with a product to sell and the marketing team is responsible for connecting the customer with it. In our times, connection not only means the consumer’s awareness of the product but also the sense of trust in the brand.
You can do MBA in Marketing from many institutes in India, and with good industry exposure, no one can stop you from achieving success in your career. The average salary offered to MBA in Marketing graduates is above 7 LPA. With experience, a five-figure monthly salary is certainly not out of reach for marketing professionals.
Besides, marketing principles are used in non-business publicity models as well. So, if you want to work for an NGO or a Political Consultancy team, an MBA in Marketing degree can really help you.
MBA in Retail Management
You are probably well aware of how the retail sector has changed in the last 10 years in the country. Previously, the convention was to buy products from local stores, where consumers got limited choices. With the emergence of supermarkets and online retail, it has changed completely now.
This has pushed the importance of an MBA in Retail Management among aspiring graduates. Of course, you go to retail management via Marketing or Operations specializations as well. But in that case, you will have to spend time learning about the industry first, before you can become a full-time employee.
On the other hand, with an MBA in Retail Management, you can head into the industry straight away. Because the industry is in the growth stage, you will be able to climb the ladder swiftly.
Best institutes according to 2021 reports
Top 3 colleges for MBA in Marketing
- D. Goenka University, Gurgaon: Located in the sprawling business hub of NCR, this university has a 62-acre campus with an international curriculum in place.
- T. University, Ludhiana: This is one of the best B-schools in Punjab today. They have collaborated with industry leaders and placement promoters to give students the best opportunities in the industry today.
- Amity University, Noida: Amity is a top private institute in the country that doesn’t need an introduction. With 11 campuses across India, Amity has the best teaching-learning environment in the country.
Top 3 colleges for MBA in Retail Management
- Amity Business School, Noida: Part of Amity’s large network, this B-school in their main campus is an attraction for students all over the country. The MBA in Retain Management course is 2 years and full-time and the placement records are excellent.
- Sunstone Eduversity: Sunstone Eduversity’s programs are unique and one-of-a-kind. There will be a focus on hands-on learning with a compulsory 9 months internship, followed by guaranteed placement at the end.
- Sardar Vallabhai Patel International School of Textile Management: It is a great B-school in South India, with international standards in curriculum design. Placement records in the course are excellent, and no student looks back after graduating from here.
Irrespective of whether your choose Marketing or Retail Management, the most important thing is determination and hard work. Other than that, your institute needs to imbibe the right culture in you, which will allow adapting to professional demands. If you’re a hard-working and determined person at a great institute, you will script your success story soon enough!