IB9QN-10 Strategic Marketing
Introductory description
This module has been designed to complement the Marketing core module and further develop participants’ experience of the strategic and operational problems confronting managers within the marketing function. Marketing focused on developing skills in analysing a specific market opportunity within a defined market. It was underpinned with frameworks to help explore alternative responses to a particular set of market circumstances prevailing at a particular point in time. In a sense Marketing focused on dynamic change and how marketers can best respond, but within a defined framework.
Module aims
The Strategic Marketing module looks at managing in markets in the longer term from a wider perspective. There may be long term growth or decline but often the changes tend to be small and slow. Markets can undergo significant changes in the long run with major redefinition and restructuring based upon customers (channels), consumers and competitors – but again these changes tend to be a slow evolutionary rather than rapid revolutionary. We will therefore consider the longer term issues in the evolution of markets and competition and the ways in which organisations both sustain their own position(s) and erode those of their competitors. The three key objectives are to:
- Further develop decision-making skills with a focus on appropriate analysis, implementation and managerial implications.
- Critically evaluate strategic marketing analysis methods with respect to their validity and relevance in changing and static marketplaces.
- Explore the impact of marketing decisions upon the long-term evolution of market structures particularly in terms of customers, competitors, channels and the corporation itself.
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.
Market entry timing strategy.
Key concepts in marketing strategy.
External analysis in strategic marketing.
Environmental uncertainty and internal analysis in strategic marketing.
The concept of sustainable competitive advantage.
Innovation as a marketing strategy.
Positioning, growth strategies, and corporate social responsibility.
Marketing mix strategies, strategy planning and implementation in organisations – selected advanced approaches.
Learning outcomes
By the end of the module, students should be able to:
- Define marketing strategy's scope and composition.
- Understand the general process for identifying and selecting marketing strategies.
- Understand key concepts and useful frameworks and models for well-directed and useful market analyses.
- Understand how to develop a market-led strategy of sustainable competitive advantage.
- Recognise approaches to focus on customers and neutralise competitor's actions.
- Understand alternative approaches for a firm's growth and possible diversification strategy.
- Understand the practicalities of marketing strategy implementation.
- Demonstrate problem formulation skills.
- Demonstrate critical thinking and analytical skills.
Indicative reading list
Aaker, D.A. and Moorman, C. (2018) Strategic Market Management (11th edition), Wiley.
Dacko, S.G. (2008) The Advanced Dictionary of Marketing: Putting Theory to Use, Oxford: Oxford University Press.
Sample academic journals:
Constantinides, E. and Fountain, S.J. (2008) ‘Web 2.0: Conceptual Foundations and Marketing Issues’, Journal of Direct, Data and Digital Marketing Practice, 9, 3, pp. 231–44.
Day, G.S. and Wensley, R. (1988)‘Assessing Advantage: A Framework for Diagnosing Competitive Superiority’, Journal of Marketing, 52, pp. 1–20.
Kerin, R.A.; Varadarajan, R. and Peterson, R.A. (1992) ‘First-Mover Advantage: A Synthesis, Conceptual Framework, and Research Propositions’, Journal of Marketing, 56, 4, 33–52.
Piercy, N.F. and Lane, N. (2009) ‘Corporate Social Responsibility: Impacts on Strategic Marketing and Customer Value’, The Marketing Review, 9, 4, pp. 335–60.
Subject specific skills
Demonstrate market research and sensing skills.
Transferable skills
Written and verbal communication skills.
Developed problem solving and decision making skills.
Study time
| Type | Required |
|---|---|
| Lectures | 4 sessions of 7 hours 30 minutes (52%) |
| Private study | 28 hours (48%) |
| Total | 58 hours |
Private study description
Private Study to include preparation for lectures.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group A
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
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| Individual Assignment (10 CATS) | 70% | 29 hours | Yes (extension) |
Reassessment component is the same |
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Assessment component |
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| Group Presentation (10 CATS) | 30% | 13 hours | No |
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Group - Marked Collectively. |
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Reassessment component is the same |
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Feedback on assessment
Assignments are graded using standard University Postgraduate Marking Criteria and written feedback is provided. Feedback for individual essays include comments on a marksheet. Overall percentage marks are awarded for examination performance and general examination feedback is provided to the cohort.
There is currently no information about the courses for which this module is core or optional.