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UNIT TITLE: Contemporary Strategic Marketing Management(CSMM) CREDIT POINTS: 15 UNIT CODE: MKT453 FHEQ LEVEL: 7 DELIVERING FACULTY: FBSE UNIT DESIGNATION: Traditional School: SBS Date validated: May 04 Date last modified: November 2010 Unit delivery model: PC Max & Min Student No.: N/A TOTAL STUDENT WORKLOAD Students are required to attend and participate in all the formal timetabled sessions for the unit. Students are also expected to manage their directed learning and independent study in support of the unit. Where normal timetabled sessions do not take place, additional directed learning may be provided, and/or students are expected to undertake additional independent learning. PREREQUISITES AND CO-REQUISITES None UNIT DESCRIPTION Marketing in the 21st Century is a very different entity compared to marketing even a decade ago. It is therefore necessary to begin to develop effective marketing strategies that take into account much of the new contemporary marketing developments that are taking place within the global environment. The Contemporary marketing unit examines the development of new marketing strategies, incorporating the new technologies and globalisation. The unit also examines traditional analytical methods, stakeholder management, ethics, sustainability, branding relationships, implementation issues and marketing metrics. The trends in marketing relationship management capabilities extending deeper into the vertical supply chain are also discussed. Emphasis is placed on implementing marketing strategies effectively. For this, a simulation is also incorporated into the module. The simulation will be used to develop the more analytical aspects of developing marketing strategies. LEARNING OUTCOMES On successful completion of the unit, students should be able to: Knowledge and Understanding K1 Explain the process for the development of effective marketing strategies Cognitive Skills C1 Synthesise ideas, information and opinion and evaluate contemporary strategic marketing theory and its appropriateness within specific contexts. Present those ideas in a logical fashion C2 Critically assess and discuss, through the use of research and analysis, the implementation of contemporary and traditional marketing strategy concepts within organisations Practical and Professional Skills P1 Work in a group, developing effective marketing strategies within a time constrained simulation P2 Take a wide perspective in developing marketing strategies and implement them within given organisational contexts. Transferable and Key Skills T1 Manage complex situations, communicate effectively, develop the ability to deal with differing marketing problems. T2 Learn independently and develop and sustain arguments leading to considered conclusions and justification of recommendations AREAS OF STUDY Strategic marketing Analysing markets Contemporary thoughts in marketing and business ethics Analysing markets and consumers, and trends such as Fairtrade Stakeholder management through the vertical supply chain Sustainability issues in developing marketing strategies Branding relationships Market orientation and the learning organisation Measuring Marketing performance The role of technology in marketing implementation, especially mobile LEARNING AND TEACHING STRATEGY Lectures will develop and discuss key strategic marketing theories and concepts. Also directed reading of key texts and independent reading of additional texts and journals will provide the basis for discussion and evaluation of core concepts and contemporary issues within strategic marketing The normal weekly contact will combine lectures, student-led discussions on strategic marketing issues, discussions of academic papers and practical mini-case study exercises as appropriate. There will also be an intensive marketing strategy simulation (Markstrat) over three or four days, in which students will work in Groups. Case studies and academic papers will be used in tutorial sessions for critical analysis and evaluation. There will be student-led discussions on selected case studies. Case study preparation and discussion and the written individual assessment will require comprehensive research, analysis, evaluation and application and the in class discussions and academic papers studied will develop analytical skills. The case studies, discussion papers and individual assessment will develop a wide range of written and oral communication skills. The range of case studies and academic papers used will, develop the ability to apply strategic marketing concepts and to learn independently, and be able to apply those skills in a business situation. The Markstrat simulation will develop students’ ability to analyse information effectively in order to develop and implement marketing strategies. ASSESSMENT STRATEGY The unit will be assessed through both group work for in-class as well as the Markstrat simulation development but formal assessment will be by individual coursework in order to measure the student’s attainment of all the stated learning outcomes. ASSESSMENT AE1 Weighting: Assessment type: Length/duration: Anonymous marking: AE2 Weighting: Assessment type: Length/duration: Anonymous marking: 50% Individual Written Assignment 1 2500 words Yes 50% Individual Written Assignment 2 2500 words Yes Aggregation & Re-assessment Rules Marks will be aggregated. Where a student is, through exceptional circumstances, unable to attend the Markstrat component and has received approval for extentuating circumstances for non-submission of the assessment, an individual alternative assessment will be provided such as an essay on the theory and use of Markstrat in building business knowledge. In the event of a referral students will be required to complete another individual assessment of the same length but with a different brief. Unit Authors: Mike Wilman and Ashok Ranchhod Date of version: April 2010