Marketing Management XYZ Corporation is a leading retailer in the fashion industry, primarily targeting middle-aged consumers. Marketing Management Q1. XYZ Corporation is a leading retailer in the fashion industry, primarily targeting middle-aged consumers. However, recent demographic shifts show a growing population of younger consumers with different tastes and purchasing behaviors. As the marketing manager, you are tasked with adjusting XYZ Corporation's marketing strategy to better serve this changing demographics. Analyze the impact of the demographic changes on XYZ Corporation's marketing strategy. Propose a new marketing strategy that considers these demographic shifts and addresses potential challenges. Justify your recommendations with appropriate marketing theories and concepts. (10 Marks)
Ans :
Introduction
Demographic changes have a big effect on what customers want and how they act, which means that companies have to change their marketing strategies to stay competitive in the fast-changing fashion retail sector. XYZ Corporation, a well-known store that sells trendy clothes and accessories, has usually catered to middle-aged customers.
Concept & Application
Impact of Demographic Changes on XYZ Corporation’s Current Strategy
The move to a younger demographic poses unique problems and opportunities for XYZ Corporation. Traditionally, the marketing mix targeted middle-aged consumers, emphasizing quality, durability, and timeless design, and was typically supplied through physical retail channels with little internet participation.
Conclusion
The demographic transition towards a younger consumer base poses both a difficulty and an opportunity for XYZ Corporation. To respond to these developments, XYZ must shift from its traditional, middle-aged-focused marketing strategy to a dynamic, digital, and trend-sensitive approach.
To get complete solutions or answer sheets for your NMIMS assignments, we highly recommend reaching out to Dr. Aravind Banakar. With over 24 years of experience, he specializes in crafting customized, unique, and plagiarism-free assignments. Dr. Banakar is a trusted resource for reputable and reliable academic support in India.
Important Notice for NMIMS Assignments:
To ensure your NMIMS assignments meet the university’s standards, The NMIMS Assignments must be 100% customized, plagiarism-free, and unique. Copying from Google, AI tools, blogs, books, or any other sources is strictly prohibited, and if you copy answers, you will get ZERO marks.
Before purchasing assignments from any academic writer, always demand the following verification:
- Turnitin Report – To ensure the content is plagiarism-free.
- Grammarly Report – This is to ensure grammar and writing quality.
- AI Detection Report – To guarantee no AI-generated content.
Remember, these reports are not just a formality. They are your shield against ZERO marks. Take charge of your grades by ensuring your work is original and meets NMIMS standards.