MKTG06055 2022 Principles of Marketing

Explain the evolution of marketing theory and practice.

Describe the forces in the marketing environment and its impact on business.

Assess the benefits of market segmentation and understand how to position an offer for maximum competitive advantage.

Comprehend the components and processes involved in the framing of a marketing mix for products and services.

Discuss the role of corporate social responsibility and ethical marketing behaviour.

The give a clear foundation of the principles of marketing in relation to its practical application to business today.  The module will be delivered through blended learning tools including slides, videos with transcripts that students can watch, case studies and/or self-assessment quizzes.

Students continuous assessment includes MCQ and group project.  This may include reviewing a case study or webinars that cover key areas of Management.  The student will work with a team to apply the theory to focused questions.  This will assist the students in their understanding of business management theory as it applies to a business situation.  They will present their findings.  An MCQ will be held at week 10.

A final exam will be held at the end of the Semester to ascertain their understanding of management theory and their ability to apply it to real world management issues.  This will be a formal exam that uses open-ended questions with a multiple choice section both to ascertain their ability to understand the concepts and apply them.

CA - Repeat assessment by end of Semester - working on a case study and any MCQ

Final Exam - Repeat Exam at next exam sitting.

1. The History and Evolution of the Marketing Discipline. (1, 5)

• Define marketing and explore the main principles of marketing.
• Discuss the main business orientations that have shaped and developed marketing as a discipline.

2. The Marketing Environment. (2)

• Examine the company's Micro and Macro Environment as it relates to the function of Marketing.
• Comprehend the importance of responding to the Marketing Environment.

3. Segmentation, Targeting and Positioning Strategies. (3)

• Understand the terms segmentation, targeting and positioning.
• Evaluate the different types of segmentation strategies.

4. Product and Services Marketing (4)

• Overview of what product and service marketing is.
• Examine the elements of products including classifications, levels, packaging, branding.
• Discuss the concepts of Product Lifecycle, New Product Development and Diffusion of an Innovation.
• Services marketing and the contribution of services to an economy.
• Characteristics of services and categories of services.
• Challenges posed in relation to the marketing of services.

5. Pricing Strategy (4)

• Discuss pricing strategies and the main internal and external considerations affecting pricing decisions.

6. Promotions - Marketing Communications. (4)

• Examine the marketing communication mix and understand the importance of the managing digital media.

7. Marketing Channels and Logistics Management. (4)

• Review how channel members add value.
• Comprehend the importance of careful selection and review of channel members.
• Understand the principles of supply chain management and the logistics function.

8. The New Marketing Landscape (1, 5)

• Examine the call for more ethics and social responsibility
• Introduce the growth of Not-for-profit marketing
• Examine changes to marketing and business with the Digital Age.
• Examine the main trends in consumers markets and emerging technologies in business that are driving decisions.