NUTR08014 2019 Food Marketing, Innovation and Entrepreneurship

Define food marketing, and analyse the key marketing factors underpinning new product success in competitive markets.

Summarise the benefits and costs of marketing to food companies

Describe the underlying influences on consumer behaviour

Design a marketing strategy for a new food product.

Identify key features of entrepreneurship and innovation

This module will be delivered online.

Tutorial / facilitated discussions will be interspersed amongst the series of weekly lectures to promote engagement.

A range and variety of different resource types (videos, recordings, reading) will be introduced to supplement the lecture.

This module will be assessed by continuous assessment (100%).

1) 40%  (Individual Mark).  Range of Continuous Assessments to encourage understanding of the subject.  Example: Open Book Short Answer Questions or MCQs.

2) 30% (Group Mark, moderated)  A small group (approx. 3 people per group) online discussion relating to key topics (e.g. 1) Idea Generation & Feasibility Study  2) Business Planning 3) Marketing) culminating in producing an online assessable item (e.g. Blog or You Tube Video)

The Group mark can be moderated for each student and assessed on Value of Contributions to exploring content/ building on content/ setting up a line of enquiry and adding value to the discussion.

3) 30% (Individual Mark) Present a marketing strategy.  This presentation will be supported by by a strategic marketing document.

As per marks and standards.

MARKETING & FOOD MARKETING

Appreciate marketing's role in a food business. a new food business and food industry context.

Discuss the main business orientations that have shaped and developed marketing as a discipline.

Reflect on marketing practices to identify key principles, draw out 'best practice', identify benefits and costs of marketing to food businesses.

Examine the micro and macro environment as it relates to the function of marketing.

Understand Market Segmentation, Targeting and Positioning Strategies.

 Differentiate between product and services marketing; business to business and business to consumer marketing.

 Discuss the concepts of Product Lifecycle, New Product Development and Diffusion of an Innovation.

 Consumer Behaviour (Model of Consumer Behaviour; Characteristics Affecting Consumer Behaviour, The Buyer Decision Process & Types of Buying Decision Behaviour)

 Identify state agencies and private consultancy firms to support a food businesses' marketing plan and marketing communications plan.

MARKETING COMMUNICATIONS

 Know the theories of communication in terms of the Marketing communications mix

 Discuss the suite of marketing mix tools.

 Develop a creative design brief.

Innovation & Entrepreneurship

Explore the terminology of creativity and experience the creative process.

Know the various methods of achieving legal protection for new ideas.

Know components of a feasibility study for new ideas.

Explain rationale for various sections to a business plan.

Appreciate the different legal structures available to start-up businesses and assess the advantages and disadvantages of each.

Know the Macro Business Environment, business growth strategies.

Customer Relationship Management & Legislation relevant to this activity.

Know the agencies that support new business start-ups in the food / nutritional sector.