MC7072 - Strategic Marketing Management (2023/24)
|Module specification||Module approved to run in 2023/24|
|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|
|Running in 2023/24(Please note that module timeslots are subject to change)||
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.
•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 evaluate theories, 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.
Prior learning requirements
-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
-Integrating digital and traditional marketing
-Controlling of marketing programmes- key metrics, KPIs, contingency and scenario
-Recent developments in marketing strategy
Balance of independent study and scheduled teaching activity
The module will be delivered over a 12 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 via WebLearn.
On completion of the module, you 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 including digital/integrated marketing approaches 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.
The assessment strategy consists of one component: Individual Report (100%). The individual marketing plan is 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.
Assuming the role of a Strategic Marketing Planning Consultant, each student will be required to develop a well-justified comprehensive marketing plan (3,000 word-limit) including:
• Strategic audit
• Review of corporate objectives
• Set marketing objectives
• Strategic decisions using appropriate theory and justification
• Tactical plans
• Tools to control implementation
• Contingency and scenario planning
• Marketing budget
Alsem, K.J. (2019) Applied Strategic Marketing: A Step By Step Approach, Routledge Taylor & Francis Group.
West, D, Ford, J. and Ibrahim, E. (2015) Strategic Marketing: Creating Competitive Advantage, 3rdEdition, Oxford University Press.
Chaffey, D. and Ellis-Chadwick, F. (2019) Digital Marketing: Strategy, Implementation and Practice, 7th Edition, Pearson.
Gilligan, C. and Wilson, R. (2009) Strategic Marketing Planning, 2ndEdition, Routledge Taylor & Francis Group.
Hooley, G., Nicoulaud, B., Rudd, J.M. and Lee, N. (2020) Marketing Strategy and Competitive Positioning, 7th Edition, Pearson.
Keller, K.L. and Swaminathan, V. (2020) Strategic Brand Management: Building, Measuring, and Managing Brand Equity, 5th Edition, Global 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
International Journal of Research and Marketing
European Management Journal
Other Essential Information Sources
Financial Times (daily business newspaper)
Fortune (monthly business newspaper) www.fortune.com
Business Week (weekly business magazine) www.businessweek.com
Marketing Week (monthly marketing oriented magazine) www.marketingweek.com
International Marketing Review
Harvard Business Review
Keynote, Mintel Marketing Intelligence, UK Consumer Outlook, Business Insight, GMID (Euromonitor)