Description:
This unit provides students with an understanding of the roles the major elements of the Marketing Mix, Product, Price, Place and Promotion in the formulation of Marketing Strategy and how they are integrated. Particular emphasis is placed on the integration of the basic tools of marketing communication; advertising, public relations, sales promotion, direct marketing and personal selling and their role in development of a Customer Relationship strategy. Integrated marketing communication requires a 'total' approach to planning marketing communication programs and coordinating communication strategies in support of overall brand and product/service marketing objectives. Students will also learn to apply the communication process and persuasion in marketing communication and implementation of a relationship strategy. Regulatory issues are also discussed
Development of graduate attributes
Graduates from the Bachelor of Business program are expected to have knowledge, skills and abilities (KSA) on three different dimensions. Each unit in your course contributes in some way to the development of the Stott's Graduate Attributes which you should demonstrate by the time you co mplete your course
Professional
GA1 Graduates have an understanding of business that allows them to identify and develop business functions and understand their effect on business outcomes
GA2 Graduates understand the professional working environment and have developed an awareness of business ethics that is consistent with the Australian business culture.
GA3 Graduates can identify and solve common problems in business using tools available to them
Personal
GA4 Graduates can develop their KSAs to meet the demands of the workplace, their chosen career path and a changing environment
GA5 Graduates have developed interactive skills to work well in a multicultural environment
GA6 Graduates can successfully work in their chosen profession and have the necessary knowledge and skills for an entry/intermediate level position after graduation.
Academic
GA7 Graduates have developed academic skills and attributes necessary to undertake research, comprehend and evaluate new information, concepts and evidence from a range of sources;
GA8 Graduates have recognised potential shortcomings in their KSAs and have developed the tools necessary to engage in self directed life long learning to address this.
GA9 Graduates have an understanding in how to apply knowledge gained in university into the workplace
Learning Outcomes:
This course integrates the knowledge of market and competitor analysis with strategic business considerations, to achieve superior performance in sales growth, market share and profit contribution. It is designed to introduce various topics in strategic marketing such as organisational strategy; defensive strategies; competitive and life-cycle strategies at the level of the business unit; portfolio analysis, diversification and differentiation; and social, ethical, technological and global issues as they impact on marketing performance. Besides understanding the theoretical foundations, participants are required to address the application of marketing principles to real life or simulated situations. The programme is devised to stimulate learning "by doing" and as such the course requires students to use your knowledge via case studies and projects. Students examine the marketing and promotional function with special emphasis on the role of Integrated Marketing Communications in the development and implementation of a Customer Relationship strategy.
At the completion of this unit a student should be able to:
LO1. Demonstrate an understanding of, and be able to explain, the relationship between corporate and marketing strategy;
LO2. Conduct and report on market situation analysis, taking into account the ethical implications of marketing proposals;
LO3. Working both autonomously and collaboratively, design and evaluate competitive marketing strategies;
LO4. Demonstrate an understanding of, and be able to explain, the need for evaluation and reformulation of marketing strategies in local and international contexts.
LO5. Differentiate between the various marketing mix tools and select the most appropriate combinations to achieve strategic objectives
LO6. Understand and apply the concept of integrated marketing communication,
CONTENT
1. Product & Product Development in the Marketing Mix
2. The role of Price in the Marketing Mix.
3. Channel Management in the Marketing Mix.
4. The Integrated Marketing Communications concept in setting Promotional objectives and the advertising budget.
5. Consumer Behaviour in the communication process
6. Market segmentation and brand positioning in relation to marketing communication
7. Marketing communication tools
8. Creative strategies
9. Media strategies
10. Measuring effectiveness of marketing communication
11. Regulatory and ethical issues in marketing communication
Assessment in this unit will consist of a combination of coursework and end-of-semester examination:
INDIVIDUAL ASSESSMENT
PART A -
Submission of Project outline, structure and chosen references for the Literature Review and Critical Analysis of the given topic
PART B -
Submission of Literature Review and Critical Analysis of the given topic
GROUP PROJECT -
PART A -
Submission of Project outline, structure and chosen references for the Development of a comprehensive, detailed Integrated Marketing Strategy (Report and Presentation) for a product or service details of which will be given during the lectures
PART B -
Development of a comprehensive, detailed Integrated Marketing Strategy for the introduction of a new product or service
(Report and Presentation)
WEEKLY OUTLINE
Week 1
Market led strategic marketing planning
Week 2
Customer Analysis & the changing market environment
Week 3
Competitor analysis in dynamic markets
Week 4 The organisational resources & forecasting demand
Week 5 Identifying current & future competitive positions
Week 6 Creating sustainable competitive advantage
Week 7 Competing with the new marketing mix
Mid Semester Break
Week 8
Competing through innovation
Week 9
Customer relationships & superior service as competitive tools
Week 10
Strategic customer management & the role of alliances
Week 11
Implementing strategy
Week 12
Course Review
Assessment 1 Individual Literature Review
Brand switching (or Churn) is a major problem in the telecommunications industry. You are required to review the current literature on Brand Switching and write a literature review which could be suitable for publication in an academic marketing journal
Your essay must include at least 7-10 current peer reviewed (scholarly) journal articles in addition to any textbook references.
The Literature review is in TWO PARTS
PART A - Project plan, structure and chosen references in a summary of no more than 250 words
PART B - The literature review of upto 2000 words
Assessment 2 Group Marketing Strategy Report & Presentation
Working in groups of no more than three you are required to develop a detailed marketing strategy for the introduction (or launch) of a new product or service into the Australian market, although this may also include other geographic areas as well.
Your marketing plan must include detailed analyses of customers and competitors as well as the general marketing environment in addition to a comprehensive positioning strategy.
The choice of product or service will depend on the interests of the group members, it may be an existing product overseas or your own business idea.