Word Count: Approximately 3,000 words (excluding references and appendices).
LEARNING OUTCOMES ASSESSED:
Upon successful completion of this module, students will have demonstrated:
- Critical understanding of transformations in marketing practices and thinking that are occurring in response to changes in the technological and social environments.
- Critical understanding of the need for an integrative approach in strategic marketing.
- Critical evaluation of the challenges faced by marketers in the digital era.
- Analytical and critical thinking
Titan in India is a multibillion-dollar retail powerhouse that sells jewellery, eyewear, precision engineering components (through a separate subsidiary), and handwoven saris, In an interview with Titan’s CEO, Bhaskar Bhat, Bhat shared the “going digital” experience of Titan: “For us, the digitization of the company is both external and internal. The former is the consumers’ interface with the company — websites, online promotions, social networks like Instagram and Facebook — while the latter is the transactions with the company, the way people make actual purchases. The jury is still out on that because, for us, the physical space still plays a large role. We are, therefore, betting on omnichannel as the safest approach, and that is playing out pretty well in eyewear, and to some extent, watches.” (strategy+business) Available at: https://www.strategy-business.com/article/Innovating-in-traditional-retail-markets?gko=bd304&utm_source=itw&utm_medium=itw20200303&utm_campaign=resp issued on 22 January 2020.
The world of retail has been subject to a number of significant transformations over the last decade; new competitive forces, economic and social changes, rapid technological advancements and changing consumer behaviors have been the death knell of many long-established retailers. This has meant that in order to survive, retailers have been faced with the challenges of transforming their marketing strategies and practices. Some but not all organizations, like Titan, have transformed their marketing practices and survived the challenges.
Investigate and appraise the role of marketing management in a retail organization/brand of your choice. This organisation and/or brand must operate at a national +/or international level, with a presence in the Asia Pacific.
Thoroughly research your chosen organisation/brand and the marketing environment within which it operates, to:
- Critically evaluate the challenges faced by those responsible for marketing the organization/brand in the digital era (50% weighting).
- Critically evaluate the transformations in their marketing practices and thinking that are occurring in response to changes in the technological and social environments and whether they are adopting an integrative approach similar to Titan (50% weighting).
Your work should be underpinned with theory and illustrated with evidence from a range of recent, credible academic and practitioner sources.
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