Marketing Theory and Practice
Main aims of the Unit
The main aim of this unit is to introduce learners to the main elements of the marketing philosophy as it can be applied to commercial and non-commercial organisations and will highlight the benefits of the marketing orientation over other business philosophies. Learners will also be introduced to the key elements of the marketing mix and will learn how the marketing function can be integrated to the other business functions
Learning Outcomes for the Unit
Upon successful completion of the course students will be able to:
Learning and teaching methods/strategies used to enable the achievement of learning outcomes:
Learning takes place on a number of levels through lectures, class discussion including problem review and analysis. Formal lectures provide a foundation of information on which the student builds through directed learning and self managed learning outside of the class. The students are actively encouraged to form study groups to discuss course material which fosters a greater depth learning experience.
Relevant experience is taken into consideration for students 21 years of age and over who have not completed any formal qualifications.
Exemptions are on a subject-for-subject basis and may be awarded at the discretion of the awarding body provided applicants already possess a relevant qualification at an appropriate academic level.
Main Topics of Study
Evolution of marketing. Business Orientations. Societal issues and emergent philosophies. Customer and Competitor Orientation. Efficiency and Effectiveness. Limitations of the Marketing Concept.
Marketing audit. Integrated marketing. Environmental analysis. SWOT analysis. Marketing Objectives. Constraints. Options. Marketing Planning.
Benefit of building customer satisfaction. Service and Customer care. Relationship marketing. Customer retention. Customer Profitability. Total Quality Marketing.
Environment scanning. Political, legal, economic, socio-cultural, ecological and technological factors
Stakeholders (The organisation’s own employees, suppliers, customers, intermediaries, owner’s financiers, local residents, pressure groups and competitors, direct and indirect competitors.) Porter’s competitive forces.
Dimensions of Buyer environment. Environmental influences. Personal variables- Demographic, sociological, psychological-motivation, perception and learning. Social factors. Psychological stimuli. Attitudes. Other lifestyle and Life Cycle variables Consumer and organisational buying.
Process of market selection. Macro and Micro segmentation. Bases for segmenting markets: Geographical, demographic, psychographic and behavioural. Multivariable segmentation typologies. Benefits of segmentation. Evaluation of segments and targeting strategies. Positioning. Segmenting industrial markets. Size. Value. Standards. Industrial Classification.
Products and brands: Features, advantages and benefits. The Total Product Concept. Product mix. Product life cycle and its effect on other elements of the marketing mix. Product strategy. New product development process. Adoption process.
Customer convenience and availability. Definition of channels. Types and functions of intermediaries. Channel selection. Integration and distribution systems. Franchising. Physical distribution Management and Logistics. Ethical issues.
Perceived value. Pricing context and process. Pricing strategies. Demand elasticity. Competition. Costs. Psychological. Discriminatory and ethical issues.
Awareness and image. Effective communication. Integrated communication process. Promotional mix elements. Push and pull strategies. Advertising above and below the line. Packaging. Public relations and sponsorship. Sales promotion. Direct marketing and personal selling. Branding. On-line marketing.
Different Marketing Segments and Contexts
Fast moving consumer goods. Consumer durables. Co-ordinated marketing mix to achieve objectives.
Differences from consumer markets. Adding value through service. Industrial. Non-profit making. Government. Reseller.
Nature and characteristics of service products-intangibility, ownership,inseparability, perishability, variability. Heterogeneity- the 7Ps.Strategies.Service Quality. Elements of physical product marketing Tangible and intangible benefits.
Globalisation. Standardisation versus adaptation. The EU. Benefits and risks. Market attractiveness. International Marketing Mix strategies.
Indicative Reading for this Unit
Marketing Management P. Kotler, K. Keller, M. Brady, M. Goodman (Pearson)
Alternative Text and further reading
Principles of Marketing- P. Kotler, G. Armstrong, L. Harris, N. Piercy (Pearson)
Guideline for Teaching and learning time
(10 hours per credit)
50 Hours - Lectures / Seminars / Tutorials / Workshops:
Tutorial support includes feedback on assignments and may vary by college according to local needs and wishes.
50 Hours - Directed learning:
Advance reading and preparation / Class preparation / Background reading / Group study / Portfolio / Diary etc
100 Hours - Self managed learning:
Working through the course text and completing assignments as required will take up the bulk of the learning time. In addition students are expected to engage with the tutor and other students and to undertake further reading using the web and/or libraries.
Final Examination: 70%