BBSD651 – Marketing Management
Module code
BBSD651
Module title
Marketing Management
Prescription
The purpose of this module is to provide the student with the knowledge and an understanding of the process of marketing management, including the ability to produce and present a marketing plan.
Programmes
- BM0701
- BS0671
- BS1054
- BS1064
NZQA Level
Level 6
NZQA Credits
15
Delivery method
- Web-Enhanced
Learning hours
- Total learning hours
- 150
Resources required
- Learning Outcomes
- 1. Demonstrate the ability to utilise various analytical tools for analysing and measuring the marketing situation:
- Develop a framework for conducting a marketing audit.
- Critically evaluate the marketing management process
- Apply theoretical knowledge, skills and concepts in the interpretation of a real business marketing plan
2. Define the principles of contemporary Marketing Management, identify the factors necessary to apply marketing in the new economy and create customer satisfaction and retention:
- Define Marketing for the twenty-first century
- Discuss how to adapt marketing to new economy
- Explain the principles of building customer satisfaction and retention
- Evaluate the concept of market orientation and investigate the relationship between customer satisfaction and quality management
3. Discuss market oriented strategic planning; the major steps in the marketing process, and identify the major components of a marketing plan:
- Define key areas of strategic planning
- Compare, contrast and understand various planning frameworks available for use in the development of marketing plans
- Describe the nature and contents of a marketing plan
- Analyse needs and trends in the macro environment
- Evaluate a range of corporate objectives
- Investigate growth, consolidation and product mix strategies available to realise the established objectives
- Discuss how product portfolio models could be used for finding an appropriate balance among alternative products and for allocation of resources
- Assess Cost-Volume-Profit relationships, their implications on product profitability and examine the traditional methods of profitability analysis
4. Discuss the importance of market analysis, suggest appropriate factors to analyse primary and selective demand and suggest appropriate methods to measure market demand:
- Determine the market boundaries of relevant markets and describe the product market structures
- Analyse primary demand and the buyers willingness and ability to buy
- Analyse selective demand, the types of buyer decision making processes and the use of determinant attributes in choice behaviour
- Discuss the basic types of market measurements, limitations in their use, and the methods of measuring absolute and relative market potential
- Examine basic forecasting approaches and measure the potential of target markets
5. Discuss the theory of competitive analysis and evaluate alternative competitive strategies:
- Explain the industry and Market concept of competition
- Discuss the components of competitive analysis
- Explain how to design a competitive intelligence system
- Analyse alternative competitive strategies
6. Discuss how to identify, describe, and select market segments:
- Briefly recap on key components of consumer behaviour
- Explain levels and patterns of market segmentation
- Describe market segmentation using appropriate bases and variables
- Evaluate and select market segments
7. Develop and communicate a positioning strategy and differentiate a market offering through the product life cycle:
- Discuss and analyse the theory of positioning
- Discuss and evaluate a range of differentiation tools
- Explain the product life cycle in relation to developing marketing strategies
8. At the end of this topic students will be able to evaluate and develop various marketing strategies, including product, price, channel communication and promotional strategies:
- Product Strategies
- Describe how to develop a new market offering
- Discuss how to create a product offering including line analysis, branding analysis, and packaging and labelling
- Price Strategies
- Explain the steps involved in setting a price for a product including how to adapt the price for initiating and responding to price changes
- Analyse price elasticity of demand of, the markets, the segments, and the company, evaluate competitive and cost factors and determine appropriate pricing programmes
- Discuss specific practices and competitor collusion
- Channel Strategies
- Discuss the theory and evolution of marketing channel systems
- Evaluate channel members and channel design decisions
- Discuss legal and ethical issues in channel relations
- Integrated Marketing Communications strategies
- Identify the communication process
- Discuss how to develop an effective communication strategy
- Evaluate and determine an appropriate marketing communications mix
- Advertising, Sales Promotion, Public relations and Direct marketing strategies
- Describe how to develop and manage an advertising program
- Decide on media and discuss how to measure effectiveness
- Discuss the major decisions in Sales Promotions and Public relations
- Discuss the evolution and development of Direct Marketing
- Evaluate e-commerce options, including the development of Internet Marketing
9. Evaluate and apply contemporary methods of monitoring and controlling a marketing plan:
- Describe four key methods of control and discuss how to implement them within the context of a marketing plan - Assessment Criteria
- Candidates must achieve a minimum result of 40 in the final examination or nominated assessment/s of each module. They must also achieve a minimum C grade pass overall from all assessments to receive a passing grade for the module.
