Retail Management - Expertise Track
The MBA expertise track in Retail Management gives a full overview of the final step in the marketing journey: the steps leading to the sales transaction with the end customer. You will explore the ins and outs of modern business, especially in retail and service industries. The courses focus on key ideas such as product marketing and sales, services marketing, and being smart about strategies, especially in this digital world where everything happens globally from day one.
The MBA expertise track in Retail Management offers courses in
- Service Marketing and Customer Experience
- Merchandise Management
- Retail Management and Strategy
- Advertising and Promotion in Retail Business
By the end of these courses, you will understand services marketing, retail marketing, and the role of technology in how people buy goods and services these days. You will also improve your skills in managing merchandise, which means you will know how to choose the right products, set the right prices, and put products where they should go, all while thinking about what's right and ethical in a competitive world. Plus, you will be skilled in marketing communications, crafting plans that really work, using ideas that come from understanding what customers want.
Service Marketing and Customer Experience
The global economy is witnessing a significant shift towards the dominance of the Services sector, which now contributes for over 2/3 of global GDP and is a major employer worldwide. This trend is driven by digital services' 'born global' nature and growing international trade. As technology evolves, businesses must adapt to innovative cyber-physical systems and service-based models. The COVID pandemic further accelerated changes in consumer behaviour and demands, requiring fresh strategies for the evolving 'Phygitization' era. This course aims to empower you with robust skills in services marketing and management to gain and sustain a competitive edge in the increasingly competitive services landscape.
Merchandise Management
This course focuses on the significance of product management in the retail industry. It emphasises the importance of strategic and tactical decision-making to ensure the right products are available at the right time, place, and price. You will learn about merchandising planning, buying, allocation, and pricing, considering ethical considerations amidst increasing competition and technological advancements. The course aims to equip you with the skills needed to pursue roles in merchandising management, consulting, or retail entrepreneurship.
Retail Management and Strategy
This course focuses on the significance of retailing and its relationship with manufacturers. It highlights the valuable insights that manufacturers can gain from retailers to enhance their production methods and inventory planning. Retailing, once overshadowed by production, has now emerged as a powerful industry, leading to fundamental changes in the business landscape. The course introduces students to the fundamentals and principles of retailing, emphasising the industry's unique characteristics and transformative positioning in the supply chain. You will learn theoretical frameworks, retailing practices, trends, and strategies to effectively manage retail firms and lead consultation projects. The course aims to equip you with the competence to navigate the dynamic world of retail and achieve long-term success.
Advertising and Promotion in Retail Business
This course focuses on marketing communications, covering various aspects such as advertising, promotions, branding, events, and online strategies. The primary goal is to reach and influence the target audience by informing, persuading, and reminding them about the brand. The course emphasises building relationships with customers, prospects, and other stakeholders. You will learn to create effective Marketing Communications Plans based on consumer insights and incisive strategies, using creative ideas and executions. The course includes practical exercises, case reviews, and discussions to evaluate and assess the quality of marketing communications for outstanding performance and results.
