Management Paradoxes in the Global Luxury Fashion Industry..
For this paper, you should have completed Seth Godin’s, Purple Cow. Seth bases his hypothesis that we need a new approach to marketing on the notion that traditional marketing no longer works because the world in which we market has changed, ie., that the “TV Advertising Complex” is dead. A “complex” (think military industrial complex) is a self contained, self sustaining ecosystem… explain what these terms mean in the context of traditional marketing… Is Godin right? Is the Television /Advertising (Marketing) complex dead?…. Beginning with your definition of what is meant by the term the Television / Advertising Complex, please consider In what ways did this become a self sustaining / closed system…when the creators of the service are judged by how good/ creative the ads are perceived to be and the judges are the people who act in, produce the music and visuals for, and otherwise are engaged (and dependent upon the continued production of TV ads) … What has been overlooked… what were the ads originally designed to do, to sell product, to bring attention and awareness to a brand or a cause…to change a target market’s behavior…. Are traditional ads still doing this? what assumptions would have to be true to support the continued success of TV advertising… for example, to believe TV ads have the potential to succeed, don’t we assume that people will watch them? What about cable and Tivo….don’t we assume people will consume video content on Televisions… what about computers and other online channels… don’t we have to assume that people will remember our Saturday night message when they are shopping on Monday… or even next Friday… is this likely to be true in today’s world… what circumstances have changed so that these assumptions must be re-examined? Your paper is not intended to definitively answer all of these questions. Your purpose in writing is to demonstrate your understanding of the risks inherent in any closed system, when a system is constructed around a set of assumptions, which are likely correct when the system is being designed but then, over the years, or decades, the world changes…maybe it’s time to ask whether the original assumptions upon which the system was built are still valid / relevant. And then, you’re being asked to express YOUR OPINION as to whether you think Godin is correct or not. Do you agree that this system is now dead… what are the causes of its demise… why does it seem difficult to recognize when a closed ecosystem is not working well. In answering thesequestions for yourself consider… when a system is closed and self sustaining, who becomes the judge of its success / failure… what sorts of metrics are used to judge success or failure… in what ways is this part of the problem…? Papers are to be not longer than 4 typed double spaced pages.