IB805-10 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 as they aim for a longer-term sustainable competitive advantage. 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 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, i.e., three-to-five or even ten years out, and from deeper as well as from a wider perspective. Markets can undergo significant changes in the long run with major redefinition and restructuring based upon consumers, customers, and competitors and where these changes may be either slow and evolutionary or rapid and 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 strategic marketing 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.
Key concepts in marketing strategy
Future-focused customer-centric analyses in strategic marketing
Environmental uncertainties and scenarios in strategic marketing
The concept of sustainable competitive advantage
Strategic marketing positioning options and synergies
Innovation as a marketing strategy
Market entry timing strategy – theoretical and empirical perspectives and strategic marketing implications
Selected advanced marketing mix-based strategies for sustainable competitive advantage in existing and emerging submarkets
Learning outcomes
By the end of the module, students should be able to:
- Define marketing strategy’s scope and composition and understand the general process for identifying and selecting marketing strategies
- Demonstrate a thorough understanding of approaches to focus on customers and neutralise competitor’s actions
- Demonstrate a thorough understanding of alternative approaches for a firm’s growth and possible diversification strategy
- Demonstrate a thorough understanding of 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
Pantano, E. (Ed.). (2020). Retail Futures: The Good, the Bad and the Ugly of the Digital Transformation. Bingley, UK: Emerald Group Publishing.
Sample academic journals:
Vollrath, M. D., & Villegas, S. G. (2022). Avoiding Digital Marketing Analytics Myopia: Revisiting the Customer Decision Journey as a Strategic Marketing Framework. Journal of Marketing Analytics, 10(2), 106-113.
Dacko, S. G. (2017). Enabling Smart Retail Settings via Mobile Augmented Reality Shopping Apps. Technological Forecasting and Social Change, 124, 243-256.
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
Research element
The individual assignment requires the student to independently conduct research and use their research as inputs to analyses and to draw conclusions. Research would involve possible academic literature searching, secondary data collection and even primary data collection
Interdisciplinary
Not explicitly but there are opportunities based on the student’s choice of new product or service to research. As such, it may include elements of technology (e.g., healthcare, information technology), business strategy (e.g., corporate analysis), etc
International
Cases chosen for discussion include companies operating in international markets and so the international context is a consideration.
Subject specific skills
Demonstrate market research and sensing skills
Deploy key concepts and useful frameworks and models for well-directed and useful market analyses
Develop a market-led strategy of sustainable competitive advantage
Transferable skills
Written and verbal communication skills.
Developed problem solving and decision making skills.
Study time
| Type | Required |
|---|---|
| Online learning (scheduled sessions) | 6 sessions of 1 hour (6%) |
| Online learning (independent) | 21 sessions of 1 hour (21%) |
| Private study | 43 hours (43%) |
| Assessment | 30 hours (30%) |
| Total | 100 hours |
Private study description
Private Study to include preparation for lectures. Teaching session lengths may vary from above.
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 A6
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
Assessment component |
|||
| Individual Assignment | 100% | 30 hours | Yes (extension) |
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.
Pre-requisites
No
To take this module, you must have passed:
Courses
This module is Optional for:
- Year 2 of TIBS-N1Q1 Postgraduate Business Administration (Executive) London
- Year 2 of TIBS-N1Q4 Postgraduate Business Administration (Executive) London
- Year 2 of TIBS-N1Q5 Postgraduate Business Administration (Executive) London
- Year 1 of TIBS-N1P2 Postgraduate Taught Business Administration
-
TIBS-N1PW Postgraduate Taught Business Administration (Distance Learning)
- Year 2 of N1PW Business Administration (Distance Learning)
- Year 3 of N1PW Business Administration (Distance Learning)
- Year 2 of TIBS-N1Q2 Postgraduate Taught Business Administration (Distance Learning)
- Year 2 of TIBS-N1S5 Postgraduate Taught Business Administration (Distance Learning) (London)
- Year 2 of TIBS-N1S4 Postgraduate Taught Business Administration (Distance Learning) (Warwick)
- Year 2 of TIBS-N1Q9 Postgraduate Taught Business Administration (Distance Learning) London
-
TIBS-N1P9 Postgraduate Taught Business Administration (Executive)
- Year 2 of N1P9 Business Administration (Executive)
- Year 3 of N1P9 Business Administration (Executive)
- Year 2 of TIBS-N1Q3 Postgraduate Taught Business Administration (Executive)
- Year 2 of TIBS-N1S2 Postgraduate Taught Business Administration (Executive) (London) Daytime
- Year 2 of TIBS-N1S3 Postgraduate Taught Business Administration (Executive) (London) Evening
- Year 2 of TIBS-N1S1 Postgraduate Taught Business Administration (Executive) (Warwick)