ES987-15 Strategic Marketing
Introductory description
In order to be successful in the modern, dynamic and global business environment, organisations need to be able to identify and meet the needs of potential customers whilst still making a profit. It is an important business skill to identify what is valued by different groups of customers and communicate this through the most appropriate mix of tactical marketing decisions. Organisations must also consider the effect of external and internal environmental factors in these decisions. Moreover, everyone within an organisation has a contribution to make to Marketing and equally Marketing impacts on all aspects of the business. Therefore, the implementation of an effective Strategic Marketing process is essential for organisational survival and prosperity, especially in the dynamic and digitally connected world.
As marketing is both an academic and applied discipline, the module contains a combination of lectures, practical activities and a simulation. Through these, the module will equip student with the knowledge and tools necessary to understand customer needs and the importance of customer experiences; to research and assess threats and opportunities in the wider market environment; to understand and engage with the theoretical principles and current practices related to Marketing; to develop strategic marketing plans.
Module aims
The module aims to provide students with an appreciation of the theoretical, methodological and practical issues associated with Strategic Marketing and advance students' knowledge on key issues of marketing theory, marketing strategy, customer experience and changes in tools and techniques that have taken place due to the development of digital technologies and an increasingly connected global marketplace.
Students will be introduced to a wide rage of tools to enable them to research the macro and micro environment, identify customer/consumer needs and understand the importance of the marketing mix, branding and products/services.
The module will provide students with an appreciation of the relationship between market analysis and marketing research, the customer’s decision-making processes as well as the basis of such decision-making; appreciate the importance of understanding buyer behaviour; and the operational synergy between the Marketing function and other parts of the organisation, such as Operations, Sales, and Supply Chain Management.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Introduction to Strategic Marketing;
Understanding the Marketing Environment;
Market Research and Marketing Research
Industrial Customer and Consumer Behaviour;
Marketing strategies: Segmentation, Targeting and Positioning;
Designing and managing tactical marketing mixes (Product- 4Ps, Service- 7Ps and Digital mixes)
Management of the Brand/Product/Service Portfolio;
International/Global Marketing;
Services Marketing;
Social marketing: Society, Sustainability and Marketing;
The impact of data, digital tools & techniques and digital businesses on Marketing;
Strategic Marketing decision-making and Planning;
Customer success management (customer journey and touchpoints; customer solutions);
Learning outcomes
By the end of the module, students should be able to:
- Critically evaluate a range of Market Segmentation tools and techniques and apply them to various product/service markets.
- Critically evaluate and apply a range of tools and techniques to develop Value Propositions that appeal to a specific Target Segment and propose an appropriate Positioning strategy.
- Critically analyse the impact of external and internal factors on the Marketing Mix and produce a Strategic Marketing Plan
Indicative reading list
Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage. Brassington, F. and Pettitt, S., 2013. Essentials of marketing. 3rd Edition Pearson education. Chernev, A., 2018. Strategic brand management. Cerebellum Press. Doole, I., Lowe, R. and Kenyon, A. 2016. International marketing strategy: analysis, development and implementation. Cengage Learning. Dunbar, I. and McDonald, M.H., 2012. Market Segmentation: How to do it, how to profit from it. John Wiley & Sons Farris, P., Bendle, N., Pfeifer, P. and Reibstein, D., 2015. Marketing metrics: The manager's guide to measuring marketing performance. FT Press. Fill, C. and Turnbull, S.L., 2016. Marketing communications: brands, experiences and participation. Pearson. Hooley, G.J., Piercy, N.F., Nicoulaud, B. and Rudd, J.M., 2017. Marketing strategy and competitive positioning Sixth Edition. Harlow, Pearson Kotler, P. and Armstrong, G., 2016. Principles of marketing 16th Global Edition. Pearson education. McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons. Rajagopal (2019) Contemporary Marketing Strategy: Analyzing Consumer Behavior to Drive Managerial Decision Making Palgrave Macmillan Vargo, S. and Lusch, R. (2018) The SAGE Handbook of Service-Dominant Logic SAGE Publications Ltd West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage. Oxford University Press, USA. Wilson, A.M., 2018. Marketing research: Delivering Customer Insight. Red Globe Press. Lee, K. (2012). Global Marketing Management. Hollenson, S. (2017). Global Marketing. Deresky, H. (2014). International Management: Managing across borders and cultures. Stone et al. (2005). Consumer Insight: How to use data and market research to get closer to your customer. Bamossy, S. Hogg, A. (2010). Consumer Behaviour: A European Perspective. Keegan, W & Green, M. (2017). Global Marketing. Journal articles will be recommended in due course.
View reading list on Talis Aspire
Interdisciplinary
Marketing is an inherently interdisciplinary science, given at its core it combines elements of Economics, Psychology, Sociology, Management and Finance. Furthermore, due to the increased use of Internet-based technologies and the global impact of Industry 4.0, this module includes such diverse topics as Service Ecosystems and Digital Marketing alongside the more traditional marketing theories, tools and techniques.
International
As the world becomes increasingly more connected, it is essential for organisations to understand the culture, norms and behaviours of potential customers from a wide variety of backgrounds and international locations. This module will introduce students to some of the tools and techniques used by marketers to identify these and adapt their offerings to the specific requirements of international markets.
Subject specific skills
Strategic marketing planning and execution; Market research analysis; Identification of customer needs, wants and behaviours; Competitive Intelligence; Internal (organisational) analysis; Segmentation, Targeting and Positioning; Offering design (products/brands/services) and implementation (Marketing Mix); Strategic Performance Monitoring and Control; Writing a Strategic Marketing Plan
Transferable skills
Critical thinking; Problem solving; Self-awareness; Communication; Teamwork and working effectively with others; Information literacy (research skills); Digital literacy; Sustainability; Ethical values; Intercultural awareness; Professionalism; Organisational awareness
Study time
| Type | Required |
|---|---|
| Seminars | 30 sessions of 1 hour (20%) |
| Online learning (independent) | 23 sessions of 1 hour (15%) |
| Other activity | 32 hours (21%) |
| Assessment | 65 hours (43%) |
| Total | 150 hours |
Private study description
No private study requirements defined for this module.
Other activity description
Online Marketplace Simulation: Students will be working in teams with set deadlines throughout the two weeks but not specific scheduled sessions.
Costs
No further costs have been identified for this module.
You must pass all assessment components to pass the module.
Assessment group A
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
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| Strategic Marketing Post Module Assignment | 70% | 60 hours | Yes (extension) |
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The PMA will contain two questions; one for each of the two Learning Outcomes. |
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Reassessment component is the same |
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Assessment component |
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| Marketplace Simulation Four-Quarter Marketing Plan | 30% | 5 hours | No |
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The Marketing Plan should include the following components: Executive Summary; Review of financial and market performance during the past year; Assessment of current situation and the market: Specifically, Customers, Competition, Company’s strengths and weaknesses; Major problems/opportunities to be dealt with in the next year; Marketing Strategy for the next year: Product Strategy; Pricing Strategy; Promotion Strategy; Sales Channel (Place Strategy) |
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Reassessment component |
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| Strategic Marketing IMA Resubmission | Yes (extension) | ||
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Students will be asked to submit a reflection based on their specific role in the simulation. Particular emphasis should be placed on how external and internal factors impacted on the strategic decisions made during the simulation. |
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Feedback on assessment
Students will receive individual written feedback on the PMA as part of the PMA feedback form. IMA feedback will be provided to groups during the module.
Anti-requisite modules
If you take this module, you cannot also take:
- WM9E4-15 Global Marketing Strategy
Courses
This module is Optional for:
- Year 1 of TWMS-H1S9 Postgraduate Taught Management for Business Excellence (Full-time)
- Year 1 of TWMS-H1SF Postgraduate Taught Service Management and Design (Full-time)