Uncertainty and competition have increased significantly and effective marketing is essential for survival and prosperity. Everyone in the organisation contributes to marketing and this course module introduces the marketing concept as a philosophy of business management and considers the techniques and strategies available to the marketing practitioner.
On completion, participants will be capable of:
- Understanding the fundamentals of marketing.
- Understanding how the marketing environment impacts marketing decisions.
- Recognising the special characteristics of Consumer, Industrial, Governmental and International markets.
- Understanding the interplay of marketing mix variables.
- Appreciating how data, information and market research can enhance marketing plans.
- Applying the concepts to develop strategic marketing plans.
- Examining and assessing developments in digital marketing with regard to e-business.
The concept and importance of marketing. The marketing system. The marketing environment. Segmentation, Targeting and Positioning
Market types - Consumer, Industrial, Service & Public Sector,
International & Export.
Marketing research and analysis. Secondary & primary data.
Managing the marketing mix
Product - Product policy and innovation. Product life cycle.
Price - Price decisions, price strategies.
Place - Channel choices & network. Push and pull. Physical distribution systems.
Promotion - Corporate image, advertising, market communication, and selling.
The role of other “P’s”
Impact of Technologies and Digital businesses on the role of marketing.
Strategic marketing planning
Analysing market opportunities and assessing company capabilities.
Competitor analysis and co-operation.
Methods - Portfolio analysis. Market attractiveness and business position assessment. Strategic tools.
Management - The planning cycle and the marketing management process.
International Marketing - strategy and globalisation.
The marketing game - Integration of most of the above topics via a simulation of a competitive business environment.
METHOD OF ASSESSMENT
Post module assignment