MC4004 - Principles and Practice in Marketing (2024/25)
Module specification | Module approved to run in 2024/25 | ||||||||||||||||
Module title | Principles and Practice in Marketing | ||||||||||||||||
Module level | Certificate (04) | ||||||||||||||||
Credit rating for module | 30 | ||||||||||||||||
School | Guildhall School of Business and Law | ||||||||||||||||
Total study hours | 300 | ||||||||||||||||
|
|||||||||||||||||
Assessment components |
|
||||||||||||||||
Running in 2024/25(Please note that module timeslots are subject to change) | No instances running in the year |
Module summary
The module introduces students to the study of marketing and communications. It outlines the fundamental principles, concepts and techniques, which are essential to understanding marketing in the 21st century as a philosophy of business in different environments. It provides students with the opportunity to explore contemporary marketing theories and approaches and the body of knowledge required for marketing decision-making based on the application of the marketing mix.
The module aims to:
1. Critically evaluate the holistic marketing concept and its impact on the marketing mix of products and services, with a view to creating superior customer value.
2. Explore how changes in our modern society including cultural and rapid technological advances have created new challenges and opportunities for all organisations.
3. Develop knowledge of a wide range of theoretical and practical techniques used in marketing and communications.
4. Assess how to employ marketing theories, techniques and tools in solving business and marketing challenges across a range of organisations.
Prior learning requirements
None
Syllabus
key subject areas to be addressed LO 1 - LO4
Understand the fundamentals of marketing LO 1
The evolution of marketing economies: marketing concept, it propositions and alternative business philosophies; the European/Global Marketing Environment; Consumer Behaviour and business-to-business behaviour; Marketing Information Systems, Research and Research methods; Segmentation, Targeting & Positioning.
Using marketing theories and elements of tactical marketing tools to create customer value LO2
Product & Service mix – anatomy of product, branding, product management, innovation and new product development, product life cycle; Pricing mix - context and concepts, pricing strategies.
Using marketing theories and elements of tactical marketing tools to communicate and deliver customer value LO2
Promotion mix – integrated marketing communications & the communications model; - Advertising, PR, Sales Promotion, Direct Marketing, Personal Selling; Direct marketing and social media; Place mix – marketing channel and logistics, intermediaries and their functions
Marketing planning and strategy LO3
Marketing planning – strategy analysis and decision-making; competitor analysis; portfolio planning and product growth strategy; global marketing.
Demonstrate understanding of key marketing and communications theories and their use through completing an unseen exam
Reflective Learning (PISO II) Requirement LO4
Learning reflection in in the first 6 weeks of taking the module. This include students’ experience on the module/course and tutor’s feedback from formative assessment in the module and their own skills reflection on this formative feedback.
Balance of independent study and scheduled teaching activity
The module will be delivered over a 30-week period and consists of 2 hours lectures and 1 hour seminar each week, including weeks 27 and 28, which will be used for examination preparation and support. Exams will take place at the end of academic year during timetabled exam period. The weekly lectures will focus on key theories, concepts, models and frameworks of the principles of marketing and their application to real life situations in the context of European/UK and Global environments.
The seminars will focus on discussions, debates, questions and answer sessions to build on the topics covered in the lectures. The emphasis will be on group activities and preparation for, case study analysis and the development of individual and group communications and presentational skills. Students will be required to gather and evaluate information from various sources and relate contemporary issues to their knowledge of the marketing and communications disciplines and professions.
The module support independent and group learning through the module's virtual learning environment hosted on WebLearn. Here students can access resources such as lecture notes, recorded lectures, study guides, coursework briefs, guidelines and feedback, as well as links to further resources. Students are encouraged to actively engage with the subject, their peers, and the tutors through the module's online discussion threads.
Reflective learning (PISO II) is incorporated into the module. Students are advised to keep a journal of experiences and personal development to analyse and reflect on the effectiveness of their learning.
Learning outcomes
1. Demonstrate awareness and knowledge of marketing and communications definitions, theories, concepts and tools as far as they apply to and affect business and all types of organisations through an unseen exam.
2. Develop the ability to seek, handle and interpret key economic, social, cultural, technological, political, environmental and behavioural data which underpin marketing and communications practices in a variety of organisations.
3. Know how to apply the key elements of the marketing system known as the marketing mix to products and services and develop a conceptual and analytical approach to dealing with marketing and communications problems as they arise within the organisation
4. Develop and demonstrate good general and academic skills required for higher education and good academic practice, including researching, writing, oral presentation, team working and IT skills. As well as student’s reflective learning skills.
Bibliography
Core Text:
Jobber D., Ellis-Chadwick, F., (2019) Principles and Practices of Marketing, 9th edition McGraw Hill (Available as an E-book).
Other Texts:
Kotler P., Armstrong G, Harris, C. L., Piercy, N., (2017) Principles of Marketing, 7th European Edition Pearson/Prentice Hall
-Gbadamosi, A., Bathgate I., Nwankwo S., (2013) Principles of Marketing, A Value-Based Approach. Palgrave Macmillan
-Lovelock C., Wirtz J., Chew P., (2016) Essentials of Service Marketing Management, 3rd edition Pearson.
Journals:
Academic Journals
European Journal of Marketing
Journal of Services Marketing
Journal of Marketing
Journal of Consumer Marketing
International Journal of Retail and Distribution Management
Journal of Product and Brand Management
Websites:
Chartered Institute of Marketing (CIM)
http://www.cim.co.uk
Marketing stable of magazines
http://www.haynet.co.uk
Electronic Databases:
Keynotes
Mintel Marketing Intelligence
Euromonitor
Other relevant books, articles and other resources would be recommended as required during the academic year.