MC6010 - Marketing Planning and Strategy (2017/18)
|Module specification||Module approved to run in 2017/18|
|Module title||Marketing Planning and Strategy|
|Module level||Honours (06)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2017/18||
The module seeks to bring together the students previous learning in the subject area and expand it to the actual conceptualisation and execution of viable and dynamic marketing plans. It also presents the latest developments in strategic marketing thinking and development of marketing plans. The module critically evaluates the linkages between strategic marketing planning and corporate planning, organisations marketing competencies in relation to competitive advantage, market performance, customers, competitors, product and service portfolios, current and future positioning and value proposition. It also applies appropriate analytical frameworks and techniques suitable for planning, implementation, measurement and evaluation of marketing plans.
Students are expected to be able to demonstrate a range of cognitive, intellectual and interpersonal skills. The module aims and learning outcomes have been formulated in relation to these QAA benchmark statements.
The aims of the module are to:
• Develop knowledge and understanding of relevant theories, models, concepts and context of strategic marketing and planning process
• Systematically carry out a marketing audit, develop an effective marketing strategy and tactical marketing plan using suitable analytical tools and frameworks
• Foster a critical awareness and understanding of current issues strategic marketing and planning theory and practice
• Enable students to consolidate and extend core concepts studied at L4/5 to an actual conceptualisation and execution of a realistic marketing plan
• Develop students’ academic writing and communication skills, including oral presentation
• Enhance students’ intellectual and interpersonal skills, including working with others
• The nature, role and scope of strategic marketing and planning– strategic marketing planning and its linkage to corporate planning; the changing marketing landscape and the need for market-driven strategies; the role of digital marketing in an organisation’s strategic direction
• Deriving marketing strategy from corporate strategy- mission, vision, objectives and strategic intent; key similarities and differences between a strategic marketing plan and a tactical marketing plan
• Key stages of the strategic marketing and planning process including analysis, planning, implementation and control; identification of key strategic marketing planning issues
• Strategic marketing planning schools of thought: the resource-based view vs. the industrial-organisation view, the market-driven paradigm vs. the market-driving view
• External marketing audit- customer analysis, competitor analysis, environmental analysis, market/submarket level KPI analysis; scenario analysis, opportunity matrix and threat matrix
• Internal marketing audit based on organisational resources, competencies and capabilities- sales and profitability analysis, ROI, shareholder value analysis; performance measurements beyond profitability
• Identification and reformulation of marketing strategies based on SWOT analysis, Gap analysis; developing an effective sustainable competitive advantage (SCA) based on key success factors (KSF); alternative approaches to portfolio analysis and leveraging of capability and advantage through alliance; quantifying the GE matrix
• Developing marketing strategy through segmentation, targeting, differentiation and positioning (STdP); competitive bench marking; developing a competitive positioning/perceptual map for selected strategic groups and brands; crafting a compelling value proposition
• Applying the STdP strategy to the digital consumer and the challenges of developing an engaging online brand proposition and value proposition
• Setting marketing objectives and tactical plans from marketing strategies; the marketing mix plan for products, brands and services (3Ps); digital marketing planning conventions (E.g. RACE framework); legal and ethical issues in marketing planning
• Product plan –implications of the PLC and product differentiation process, key stages of NPD/NSD, use of the quality function deployment matrix; brand building objectives and methods
• Pricing plan and alternative pricing strategies for existing and new offering; break-even analysis, elasticity of demand; pricing for online and offline channels
• The integrated marketing communications planning process, including digital objective setting and the digital communication mix and alternative media channels for traffic building
• The CRM plan, objectives and metrics integration, including digital tools for engagement and retention; key constraints in e-CRM development
• Multichannel plan- analyse customer needs, set channel objectives, identify and evaluate on line and offline channel alternatives; risks of disintermediation
• Implementing the marketing plan- developing implementation strategies; resources skills needed for effective implementation; timing of activities, responsibilities and appropriate organisational structures that facilitate the implementation process
• Alternative frameworks of monitoring and measuring effectiveness of each element of the marketing mix plan, including evaluation issues of a digital marketing plan; evaluation of brand equity
• Types of marketing control; marketing planning budgets and forecasting techniques; contingency and scenario planning
Learning and teaching
The module will be delivered over a 30-week period and consists of 1.5 hours lectures and 1.5 hours seminar each week. The module uses a blended learning and teaching strategy, comprising of: lectures, video case studies, research projects, Weblearn interaction, guest lectures and class discussions. The use of Weblearn facilities is central to the delivery of module handbook, case studies, journal articles, external web links and student feedback.
The weekly lectures will focus on strategic marketing and planning issues and will be supplemented with online resources. The seminar sessions will cover discussions, debates, questions and answer sessions to build on the topics covered in the lectures. The main focus will be on the development of research and critical thinking. The students will be expected to read extensively from the module reading list and supplement it using suggested readings and various online resources. The expectation that students will keep abreast of the latest thinking and developments in strategic marketing and planning theory and practise will be supported by seminar discussions and online support.
During the seminars, students are encouraged to construct small learning groups of 3 (three) and work together on analysing and critically interpreting case studies, academic journal articles and other current real-life examples.
The use of WebLearnfacilities is central to the delivery of module handbook, case studies, journal articles, external web links and student feedback.
On completion of the module student will be able to:
1. Demonstrate a critical understanding of the conceptual models and context of strategic marketing and the process of strategic marketing planning
2. Select and apply appropriate analytical tools and techniques to dealing with strategic marketing planning, implementation, monitoring and organisational issues
3. Critically evaluate the internal and external marketing environment within which an organisation has to craft its marketing strategy for action including the STEP strategy
4. Demonstrate a systematic understanding and critical appreciation of the processes underlying the development of marketing strategies. Also develop a keen and deep understanding of the latest developments in marketing strategy and applications
5. Create a well-justified marketing plan that considers real life variables and which can be realistically implemented
6. Work effectively both in a team as well as independently and be able to reflect on own skills and knowledge based on constructive feedback and own contribution to learning
|Assessment||Learning Outcomes||Skills Development||Details|
|Group presentation (20%)||1,2,3,4,6||Oral presentation (P,A); researching and analysing data (P,A); problem solving (P,A); team skills (P,A), creative skills(P,A), synthesis skills (P,A); time management skills (P,A)||
Students will be required to work in groups 3-4 for an oral presentation of 20 minutes. Assuming the role of a strategic marketing consultant, 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. carryout internal and external marketing audit
3. propose a strategy that provides a distinctive
positioning for the firm
|Individual critical essay (20%)||1,4,6||Improve one’s ability to think critically and write reflectively in relation to current issues in strategic marketing and planning (I,P,A); develop the skills to analyse, synthesise and evaluate a large body of concepts, ideas and theories related to strategic marketing planning (I,P,A); individual research skills (P,A); referencing skills (P,A)||
Review of an article from an academic journal
(1500 words excluding references and appendices)
Each student should choose an article from an
|Individual marketing plan (60%)||1,2,3,4,5,6||Research skills (P,A); skills 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 IT skills (P,A); referencing and numeric skills (P,A); improve the ability to work independently (P,A); improve strategic marketing planning awareness (I,P), significantly improve one’s enterprise skills, including taking initiative, showing leadership, taking calculated risks; completing tasks and projects (I,P,A)||
A comprehensive marketing plan (word count 3500)
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. Based on marketing audit and the STdP strategy, individually students should develop an effective marketing mix plan including setting marketing objectives and tactical plans, the implementation process, alternative mechanisms of monitoring and control, marketing budgets and forecasts, contingency and scenario planning.
West, D, Ford, J. and Ibrahim, E. (2010) Strategic marketing: creating competitive advantage, 2nd
edition, Oxford university press.
- Aaker, D.A. and McLoughlin, D. (2010) Strategic market management- global perspective, John Wily &
Sons Ltd, UK.
- Blythe, J. And Megicks, P. (2012) Marketing planning- strategy, environment and context,
- Drummond, G., Ensor,J. AndAshford, R. (2008) Strategic marketing-planning and control, 3rd edition,
- Gilligan, C. and Wilson, R. (2009) Strategic marketing planning, 2nd edition, Butterworth-Heinemann,
- Hooley, G. Piercy, N. and Nicoulaud, B. (2012), Marketing strategy and competitive Positioning, 5 Ed,
- Kerin, R.A. and Peterson, R.A. (2012) Strategic marketing problems- cases and comments, 13th edition,
- McDonald, M. And Wilson H. (2011) Marketing plans – how to prepare them, how to use them, 7th
edition, John Wiley & Sons, UK.
- Sorger, S. ( 2012) Marketing planning-where strategy meets action, Pearson education Inc.
- Wood, M.B (2010) Essential Guide to Marketing Planning, 2nd Edition, Pearson Prentice Hall.
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
Essential Press Reading:
Financial Times, The Economist, Harvard Business Review, The Wall Street Journal, Marketing Week, Business Week, Fortune
Keynote, Mintel Marketing Intelligence, UK Consumer outlook, business insight, GMID (Euromonitor)