Thank you for your response.
I had 5 years of work experience when I applied for MBA earlier. I am not sure what went wrong, maybe my GMAT was comparatively lower or my GPA. I was actually ranked 6th in my class during my undergrad, grading in India is much different than in US and I believe on paper, just looking at 2.75/4 without looking at the whole story actually looks bad. Secondly, I didn't had any International work experience, nor was my under-grad University among-st the top 10 (IIT's) in India. Also, I feel, since my only work experience was with my start-up and had no work experience with a global company (MNC's), that might have worked against me.
I've tried giving GMAT a couple of times but couldn't score higher. I might try once more but I don't have much hope. I know the schools I've chosen are ultra competitive but for me personally, it doesn't make sense to go to any other school (especially out of top 10). This is as much about professional reasons as personal (dreamt of studying in these 5 schools for 10 years now & I do believe I am good enough for them).
My career goals are to have a broader base in Operations. With my master's in Supply Chain, I learned only supply chain & operations. But I want to learn more in Marketing & Strategy, which I feel function closely with Operations and then target a career, either as Product Manager or Operations Consulting.