Download BA2080 Marketing Management - University of London International

University of London International Programmes
BSc Business Administration
Lead College – Royal Holloway
BA2080 Marketing Management
Aims
“Marketing is about the interplay between the company and its customers within the context of competition,”
according to Richard Tedlow (Harvard Business School). Marketing is the management function most
representative of society at the outset of the 21st century. The New Fontana Dictionary of Modern Thought
(1999) describes marketing in flamboyant terms: ‘Now widely held to be the most important of industrial and
commercial disciplines’. It is a core activity of all types of organization – and fundamental to success – yet it
remains misunderstood.
MN2080, as suggestive of the course title, seeks to introduce the core concepts associated with contemporary
marketing management. In the main, a capitalist-friendly (think pink!) position is adopted. Incidences of
whimsy will arise, however, there is nothing outré about the course. A fulsome effort is exerted so that you
are encouraged to engage in a critical assessment of marketing thought and the application of marketing in
the marketplace.
Pre-requisites
None
Essential Reading
• Principles of Marketing (Kotler &
Armstrong)
Included as study materials once registered on
the course.
Assessment
This module is assessed by a three hour unseen
written examination.
Learning Outcomes
By the end of this module students should be able
to:
• Recognize the significance of marketing
contributing to national wealth creation and
economic development, and the relationship
between consumer choice and democracy;
• Discuss corporate marketing management – as
initiated by the likes of Peter Drucker, Theodore
Levitt, and Philip Kotler – including the marketing
mix (4Ps) and services marketing mix (7Ps)
frameworks, the product life-cycle, models about
marketing communications and persuasion,
pricing approaches, marketing research, buyer
behaviour, product policy, strategic approaches to
marketing, sources of brand equity, market
segmentation, and disintermediation impacts on
channels of distribution;
• Assess the social responsibilities of marketers and
limitations associated with conventional
marketing management.
Syllabus
Topic 1 (this one) provides a general introduction
to the topic of marketing management and how it
is to be treated by the authors on this course.
Topic 2 focuses on the key foundation stones or
philosophical
underpinnings
of
marketing
management as a vital sub-discipline of
management. Three levels of marketing within the
organisation – as culture, as strategy and as tactics
– are used to highlight the role of the marketing
concept, STP (segmentation, targeting and
positioning) and the elements of the marketing
mix (4Ps).
Topic 3 highlights some of the main contemporary
issues central to understanding marketing
management at the start of the twenty-first
century including the rise of globalisation and socalled power brands, the impact of corporate
social responsibility on consumers, relationship
marketing and the role of technology in
marketing.
The links between business strategy and the
marketing environment are examined in Topic 4.
‘Strategy as Position’, associated with the work of
Michael Porter, highlights the affinities between
marketing and strategy in how firms compete.
Consumer behaviour (B2C marketing) is examined
in Topic 5; this looks at the business-to-consumer
process. [Note: Consumer Behaviour is offered as
a final-year course, and is required for students
reading BSc Management with Marketing.]
Topic 6 focuses on B2B (business-to-business)
marketing. Organisational buying behaviour is
about the relationships between institutions.
The crucial role of marketing research is discussed
in Topic 7. Marketing research is viewed from the
perspective of management decision-making.
Quantitative and qualitative research methods are
examined.
Segmentation, targeting and positioning (STP) are
the focus of Topic 8. It focuses on marketing as a
set of activities and tasks of identifying customer
segments, evaluating attractiveness of each
segment and deciding on the differential
advantage (or the unique selling proposition) of
the product for the selected target segments.
Topic 9 introduces and develops the value of
branding to the success of all types of organisations.
Branding has become a central issue for senior
management, as the equity (or value) associated with
a successful brand is a significant non-tangible asset
– a key determinant value of corporate value.
Topic 10 is an overview of the elements of the
marketing mix, conventionally known as the 4Ps (of
product, promotion, price and place). The elements
need to work in tandem. Marketers need to be
aware that different elements may assume
prominence given the nature of the product,
customer segments, actions of competitors, market
conditions, etc. Moreover, the elements are dynamic
in nature; review needs to be periodic and
systematic.
Product issues are examined in two companion
topics. Topic 11’s product management discussion
includes the role of the product life cycle.
The role of innovation in new product development
is explored in Topic 12.
Promotion is covered over three topics. This reflects
the diverse range of topics, vis-à-vis the other
elements of the marketing mix, grouped under
promotion. Topic 13 looks at the communications
process and the role of advertising in contemporary
society.
Topic 14 widens the perspective in order to consider
promotional activities beyond advertising (e.g. direct
marketing, public relations, sales promotions,
sponsorship).
Particular attention is devoted to the important role
of managing personal selling in Topic 15.
Pricing as a competitive tool is examined in Topic 16.
Cost to the producer is important, but too often the
other side of the equation – value to the buyer – gets
marginalised in pricing decisions.
Topic 17 looks at place as channels of distribution,
which broadens the discussion beyond conventional
retailing. The focus is on customer value delivery
systems.
Topic 18 examines marketing evaluation and control;
this suggests that marketing management is an
iterative process in which much organisational
learning occurs.
Issues associated with global and international
marketing can be found in each of the individual
topics, but it was deemed worthwhile to articulate
some of the key points cited in marketing beyond
the home market. This is the focus of Topic 19.
Topic 20 recognises the complex nature of
marketing: it contributes to wealth creation and
consumer democracy, on the one hand; on the
other, there are concerns that a marketing-driven
society has detrimental consequences.