MC7072 - Strategic Marketing Management (2020/21)
| Module specification | Module approved to run in 2020/21 | ||||||||||||
| Module title | Strategic Marketing Management | ||||||||||||
| Module level | Masters (07) | ||||||||||||
| Credit rating for module | 20 | ||||||||||||
| School | Guildhall School of Business and Law | ||||||||||||
| Total study hours | 200 | ||||||||||||
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| Assessment components |
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| Running in 2020/21(Please note that module timeslots are subject to change) |
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Module summary
This module critically explores the strategic aspect of marketing management. It includes the essentials of marketing theory and offers a structured approach to identifying, understanding and solving marketing problems. The concepts, principles and frameworks examined in the module apply nationally and internationally to a wide range of organisations and sectors.
Prior learning requirements
N/A
Module aims
• To define and evaluate the dimensions of strategic marketing management and its impact on the achievement of long term objectives in order to gain competitive advantages.
• To provide an understanding of the complex nature of marketing strategy and critically evaluatetheories, concepts, tools and models in marketing strategy.
• To broaden students’ understanding of the environment in which marketing decisions are made.
• To enable students to formulate, evaluate and select from alternative marketing strategies to solve marketing issues and problems whilst developing associated strategic decision-making skills.
Syllabus
Introduction and overview of why marketing strategy is important and the impact on corporate decision making processes
-Corporate mission statements and objectives evaluation
-Evaluating company’s external environment
-Evaluating company’s internal resources, capabilities and competitiveness
-Customer analysis and marketing research
- Segmentation, targeting, differentiation and positioning strategies
-Marketing mix strategy- 4P/7P models
-Controlling of marketing programmes
-Recent developments in marketing strategy
Learning and teaching
The module will be delivered over a 15 week period consisting of 1.5 hours lecture and 1.5 hours seminar each week. The key theories, models and concepts of marketing strategy will be covered during the weekly lectures. The weekly seminars constitute case study analysis, question and answer sessions, group discussions, presentations, etc. Students should decide what are the key issues pertaining to the case studies and how they can best be addressed. Students should individually and/or in their respective teams, prepare all assignments well in advance of the date in which materials will be covered.
All teaching materials will be available on WebLearn.
Learning outcomes
On completion of this module students will be able to:
1. Understand the role, context and purpose of strategic marketing within the framework of a variety of environmental settings and organisational contexts and be able to select and apply appropriate perspectives of strategy to given situations.
2. Demonstrate a critical understanding of the concepts, models and techniques used in strategic marketing management.
3. Identify, analyse and explain the competitive situation faced by a company by applying an appropriate range of marketing tools and models.
4. Critically discuss the dimensions that need to be considered in the efficient blending of marketing mix components in order to achieve organisational objectives.
5. Understand the dimensions of CSR activities and ethical implications in context of
strategic marketing decision making processes.
Assessment strategy
The assessment strategy consists of two components: - Group presentation (30%) and individual report (70%). Theseare designed to aid student learning and independent, critical and reflective thinking. The coursework is designed around the application of theoretical models in a real life scenario. The main thrust is the comprehension of theoretical limitations, the ability to conduct analysis with limited information, the development of secondary research skills and the ability to present arguments in a cohesive and professional manner all of which will enhance not only academic growth but also contribute towards employability skills as set out by the University.
Skill development IPA: I - Introduced, P - Practiced, A - Assessed
| Assessment | Learning Outcomes | Skills Development | Details |
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Group presentationand supporting material (30%) |
1,2,3,4 |
Researching, analysing data, (P, A) application ofknowledge, (I, P, A)critical thinking and writing, problemsolving and decision making (P, A).
Inter-personal/Inter-cultural communication and oral |
Group presentation and supporting material (presentation handout and supporting notes) (1,000 word limit for supporting notes) Students will be required to work in groups of 3-4 for an oral presentation for 20 minutes. Assuming the role of strategic marketing consultants, each group should develop a strategy for a company operating within the UK. Each group will be required to: 1. Describe and critically evaluate the current strategy of the organisation. 2. Conduct an internal and external marketing audit. 3. Analyse forms of segmentation techniques that may be important to the company in the future. 4. Suggest recommendations based on the foregoing analysis providing areas for improvement/development. |
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Individual Marketing plan 70% |
1,2,3,4 | Research skills (P,A); collation of relevant data and the synthesis of information to make meaningful analysis (P,A); critical judgement regarding the quality and validity of data and the analysis of information to develop appropriate marketing plans (P, A); digital literacy and skills (P, A); numerical skills and referencing (P, A); ability to work independently (P, A); strategic marketing planning awareness (P, A); enterprise skills including taking initiative, showing leadership, taking calculated risks; completing tasks and projects (I, P, A). |
A Comprehensive Marketing Plan (word count 3,000) This assignment is designed to provide students with an opportunity to demonstrate breadth and depth of understanding of the module. Assuming the role of a Strategic Marketing Planning Consultant, each student will be required to develop a well-justified comprehensive marketing plan including: • Strategic audit • Review of corporate objectives • Set marketing objectives • Strategic decisions using appropriate theory and justification • Tactical plans • Tools to control implementation • Marketing budget • Contingency and scenario planning |
Bibliography
Core text:
West, D, Ford, J. and Ibrahim, E. (2015) Strategic Marketing: Creating Competitive Advantage, 3rdEdition, Oxford University Press.
Supplementary reading:
Aaker, D.A. and McLoughlin, D. (2010) Strategic Market Management: Global Perspectives, 1st Edition, John Wiley & Sons.
Blythe, J. and Megicks, P. (2010) Marketing Planning: Strategy, Environment and Context, Pearson.
Drummond, G., Ensor, J. and Ashford, R. (2008) Strategic Marketing Planning and Control, 3rd Edition, Routledge Taylor & Francis Group.
Gilligan, C. and Wilson, R. (2009) Strategic Marketing Planning, 2ndEdition,Routledge Taylor & Francis Group.(Please note that the 3rd Edition will be released on 20th November 2017)
Hooley, G. Piercy, N. and Nicoulaud, B. (2012) Marketing Strategy and Competitive Positioning, 5th Edition, Pearson.
Kerin, R.A. and Peterson, R.A. (2013) Strategic Marketing Problems: Cases and Comments, 13thEdition,Pearson.
McDonald, M. and Wilson H. (2016) Marketing Plans: How to prepare them, how to profit from them, 8thEdition, John Wiley & Sons.
Sorger, S. (2012) Marketing Planning: Where Strategy Meets Action, Pearson.
Wood, M.B. (2017) Essential Guide to Marketing Planning, 4thEdition, Pearson.
Academic Journal Reading
Journal of Strategic Marketing
Strategic Management Journal
Journal of Business Strategy
Journal of Marketing Research
Marketing Intelligence & Planning
Journal of Marketing
Journal of Academy of Marketing Science
European Journal of Marketing
Journal of Marketing Management
Journal of Targeting, Measurement and Analysis for Marketing
Other Essential Information Sources
Financial Times (daily business newspaper) low cost copies available during term times.
Wall street Journal, Europe, (daily business newspaper).
Fortune (monthly business newspaper) www.fortune.com
Business Week (weekly business magazine) www.businessweek.com
Marketing Week (monthly marketing oriented magazine)
Strategy & Amp; Business www.strategy-business.com
International Marketing Review
International Journal of Research and Marketing
European Management Journal
Harvard Business Review
Industry Reports
Keynote,Mintel Marketing Intelligence, UK Consumer Outlook, Business Insight, GMID (Euromonitor)