In a hyperconnected environment, marketing is now a core function within organizations. The marketing team is responsible for supporting the organization in driving brand reputation, new product development, expanding the customer base and ultimately – enhancing financial performance of the organization. With the increasing digitization of marketing and customer-brand interactions, marketers need to identify new and impactful ways of creating meaningful and relevant customer engagement.
The module will equip students with the skills and knowledge to understand how the marketing function operates within organizations, how consumers make decisions and engage with organizations/businesses, opportunities for new product development and enhanced brand positioning, as well as how marketing communications can be used to heighten awareness and build differentiation in hypercompetitive industry sectors.
This is a practical and applied module with hands-on and experiential exercises and activities to engage and enhance students’ learning. Students have the opportunity to learn about the current marketing methods, techniques and strategies underpinned by the latest research and best-practice case studies.
This course will help develop the following:
- An understanding of fundamental market and customer management terms, concepts, principles, and theories.
- An understanding of how effective market and customer management contributes to business strategy and profitability.
- Skills pertaining to managing markets and building customer value.
- An ability to develop marketing plans, strategies and tactics.
- An understanding of the close relationship between marketing and other functions within an organisation, and between marketing and innovation.
- Critical thinking and communication skills relating to marketing.
- Defining marketing; marketing as a business function; marketing as a philosophy; the role of marketing in the organisation, linking marketing to customer and financial value creation, etc.
- Marketing tactics and strategy; market intelligence generation, dissemination and responsiveness; the marketing mix and the marketing environment, etc.
- Market Segmentation, targeting and positioning: market coverage options and decisions; market segmentation process; bases for segmentation, etc.
- Consumer buying behaviour: stages in consumer buying decision-making; types of consumer decisions; principal factors affecting decision outcomes; impact on marketing strategy and programme design, etc.
- Products and brands: the product-life cycle; new product development; product diffusion; managing product portfolios; managing brands; etc.
- Services and Internet marketing: the peculiarities of services, the expanded marketing mix; assessing service quality; marketing online, etc.
- Marketing communication: the communications process; the marketing communications mix; non-traditional marketing communications and online marketing, etc.
- Loyalty and relationship marketing: the economics of loyalty; loyalty, growth an operating margins; customer defection; loyalty programmes, etc.
50% Individual assignment (2,000 words) , 30% group assignment, 20% Case study presentation
There is no set text book for this module. Students will be required to read a number of set case studies and articles.