MKT46040 Retail: Winning in Digital Era

Academic Year 2022/2023

E-commerce is experiencing unprecedented growth. For instance, a recent report by Adobe indicated that global e-commerce sales amounted to $876 billion in the first quarter of 2021, an increase of 38% over the last year. Several factors have collectively contributed towards the success of digital retail, from advancements in internet and technology including recent boom in cloud computing and social networking, to societal impetus such as changing consumer attitudes and the recent societal shift due to Covid-19. This course will focus on how marketers can create value for their consumers by leveraging digitalization. This module will introduce students to the different types of tools and resources that are available for digitalizing businesses today. Students will also learn how to adapt marketing and advertising techniques to the digital world, while exploring the importance of data in digital retail. Building on theoretical concepts and real-world case studies, students will develop a skillset that will enable them to digitalize existing brick and mortar businesses and envision new e-commerce businesses.

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Curricular information is subject to change

Learning Outcomes:

Learning Outcomes:
• Understand the different types of digital formats, platforms and tools that are available to businesses today.
• Gain a deep understanding of the processes, technologies and mechanisms that are involved in digitalizing businesses.
• Understand the importance as well as practical implications of omnichannel retail formats.
• Be able to successfully employ marketing and advertising techniques in the digital landscape.
• Learn to leverage retail data available to digital business, in order to formulate business insights.
• Gain an understanding of “newer” formats (such as peer-to-peer markets and sharing economy) of digital retailing.
• Become acquainted with current and future trends in digital retail.

Indicative Module Content:

1. Digital Retail: Introduction, definitions, concepts, and types of e-commerce
2. Business & Revenue Models
3. Building an online presence
4. Marketing and advertising in digital retail
5. The power of data (SEO, A/B testing, and Analytics)
6. Social, mobile, and local marketing
7. Pricing in digital media
8. Omnichannel retail management
9. Innovative digital commerce models: Sharing Economy and P2P Commerce; Subscriptions: from meal kits to cosmetics
10. Impact of Covid-19 on digital retail
11. Current and future trends in digital retail

Student Effort Type Hours
Lectures

36

Total

36

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Case reports Throughout the Trimester n/a Standard conversion grade scale 40% No

30

Continuous Assessment: Group case presentation and case report Throughout the Trimester n/a Standard conversion grade scale 40% No

20

Continuous Assessment: In-class participation Throughout the Trimester n/a Standard conversion grade scale 40% No

15

Project: Online retail project Throughout the Trimester n/a Standard conversion grade scale 40% No

35


Carry forward of passed components
No
 
Resit In Terminal Exam
Summer No
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

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2. Vila, O., Bharadwaj, S., Morgan, N., & Mitra, S. (2020). Is your Marketing Organization Ready for What's Next. Harvard Business Review, 98(12), 104-113.
3. Rangan, V. K., Corsten, D., Higgins, M., & Schlesinger, L. A. (2021). How Direct-to-Consumer Brands Can Continue to Grow. Harvard Business Review, 99(6), 100-109. https://hbr.org/2021/11/how-direct-to-consumer-brands-can-continue-to-grow
4. Hult, G. T. M., Sharma, P. N., Morgeson III, F. V., & Zhang, Y. (2019). Antecedents and consequences of customer satisfaction: do they differ across online and offline purchases?. Journal of Retailing, 95(1), 10-23.
5. Barwitz, N., & Maas, P. (2018). Understanding the omnichannel customer journey: Determinants of interaction choice. Journal of Interactive Marketing, 43, 116-133.
6. Edelman, D. C., & Singer, M. (2015). Competing on customer journeys. Harvard business review, 93(11), 88-100.
7. Flavián, C., Gurrea, R., & Orús, C. (2019). Feeling confident and smart with webrooming: understanding the consumer's path to satisfaction. Journal of Interactive Marketing, 47, 1-15.
8. Chang, M. L., & Wu, W. Y. (2012). Revisiting perceived risk in the context of online shopping: An alternative perspective of decision‐making styles. Psychology & Marketing, 29(5), 378-400.
9. Kannan, P. K. (2017). Digital marketing: A framework, review and research agenda. International Journal of Research in Marketing, 34(1), 22-45.
10. Aral, S. (2021). What Digital Advertising Gets Wrong. Harvard Business Review.
11. Wedel, M., & Kannan, P. K. (2016). Marketing analytics for data-rich environments. Journal of Marketing, 80(6), 97-121.
12. Johnson, G. (2020). Is your marketing strategy based on the right data?. Harvard Business Review.
13. Berger, J., & Milkman, K. L. (2012). What makes online content viral?. Journal of Marketing Research, 49(2), 192-205.
14. Westergaard, N. (2016). Your content marketing strategy doesn’t have to be complicated. Harvard Business Review.
15. Tong, S., Luo, X., & Xu, B. (2020). Personalized mobile marketing strategies. Journal of the Academy of Marketing Science, 48(1), 64-78.
16. John, L. K., Mochon, D., Emrich, O., & Schwartz, J. (2017). What’s the Value of a Like. Harvard Business Review, 95, 108-15.
17. Wang, F., Zuo, L., Yang, Z., & Wu, Y. (2019). Mobile searching versus online searching: differential effects of paid search keywords on direct and indirect sales. Journal of the Academy of Marketing Science, 47(6), 1151-1165.
18. McDowell, W. C., Wilson, R. C., & Kile Jr, C. O. (2016). An examination of retail website design and conversion rate. Journal of Business Research, 69(11), 4837-4842.
19. Klanecky, A., & Portell, G. How Do Consumers Choose in a World of Automated Ordering?. Harvard Business Review.
20. Senecal, S., & Nantel, J. (2004). The influence of online product recommendations on consumers’ online choices. Journal of Retailing, 80(2), 159-169.
21. Seele, P., Dierksmeier, C., Hofstetter, R., & Schultz, M. D. (2021). Mapping the ethicality of algorithmic pricing: A review of dynamic and personalized pricing. Journal of Business Ethics, 170(4), 697-719.
22. Lau, T., & Akkaraju, U. When Algorithms Decide Whose Voices Will Be Heard. Harvard Business Review.
23. Fung, K. The Ethics Conversation We’re Not Having About Data. Harvard Business Review.
24. Robertson, T. S., Hamilton, R., & Jap, S. D. (2020). Many (un) happy returns? The changing nature of retail product returns and future research directions. Journal of Retailing, 96(2), 172-177.
25. Collis, W., & Collis, D. (2020). How to build a digital brand that lasts. Harvard Business Review.
26. Shankar, V., Kalyanam, K., Setia, P., Golmohammadi, A., Tirunillai, S., Douglass, T., ... & Waddoups, R. (2021). How technology is changing retail. Journal of Retailing, 97(1), 13-27.
27. Gramling et al. (2021). How E-Commerce Fits into Retail’s Post-Pandemic Future. Harvard Business Review.
28. Morewedge, C. K., Monga, A., Palmatier, R. W., Shu, S. B., & Small, D. A. (2021). Evolution of consumption: A psychological ownership framework. Journal of Marketing, 85(1), 196-218.
29. Yoon, E., Lochhead, C., Ferguson, D., & Mumphery, Q. Could Gen Z Consumer Behavior Make Capitalism More Ethical?. Harvard Business Review.
Spring
     
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 31, 32, 33 Mon 11:00 - 13:50

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