| CODE | MRK5023 | ||||||
| TITLE | Marketing Strategy for Network Products and Technology | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | 7 | ||||||
| ECTS CREDITS | 5 | ||||||
| DEPARTMENT | Marketing | ||||||
| DESCRIPTION | This study-unit offers you a thorough exploration of how technology-driven platforms connect producers and consumers in multi-sided marketplaces. You’ll examine the dynamics of network products and services and gain a practical guide to creating and managing a platform marketplace. Through this unit, you’ll uncover the strategies powering today’s rapidly growing platforms and learn how to navigate and succeed as an entrepreneur, manager, strategist, or regulator in this evolving digital landscape. Study-Unit Aims: The study-unit aims to provide you with a comprehensive understanding of the principles and strategic implications of network products and platform markets. You will explore core concepts such as network effects, two-sided markets, and switching costs, analysing how these influence marketing strategy, product design, pricing, and competition. You will learn to evaluate the impact of platform design on user behaviour and network value creation, applying market models to assess the efficiency and outcomes of various network structures. Additionally, you will examine the role of regulation and policy in shaping competition and fostering innovation within networked industries. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - LO1: Explain the fundamental principles of network economics, including network effects, two-sided markets, and platform value creation. - LO2: Distinguish between different types of network platforms and identify the key factors contributing to their success. - LO3: Analyse user acquisition and retention strategies specific to network platforms, including network bootstrapping, user segmentation, and trust-building through platform design. - LO4: Evaluate the commercial impact of network effects on marketing strategies, pricing models, and competition within digital marketplaces. - LO5: Assess the influence of platform design on user behaviour and the creation of network value, applying theoretical models to real-world examples. - LO6: Examine the role of regulation and policy in shaping competition and innovation within network industries, considering the balance between market growth and consumer protection. - LO7: Investigate emerging advancements in network platforms, including the use of artificial intelligence for personalisation and enhanced user engagement. 2. Skills: By the end of the study-unit the student will be able to: - Analyse Characteristics of Network Platforms: Evaluate key characteristics of successful network platforms, such as network effects, two-sided markets, and platform value propositions, to understand their impact on business strategies. (Aligned with LO1 and LO2, focusing on analytical skills in evaluating core network platform features.) - Develop User Acquisition and Retention Strategies: Create targeted strategies to attract and retain users on both sides of a network platform, applying segmentation, trust-building, and engagement techniques. (Corresponds to LO3, building practical skills for user growth and retention on network platforms.) - Evaluate Platform Design for User Behaviour and Network Growth: Assess the effectiveness of various platform design approaches on user behaviour, engagement, and overall network growth. (This skill links to LO5, focusing on evaluating platform design with a user-centred approach.) - Formulate Competitive Strategies for Network Platforms: Design competitive strategies that leverage pricing, differentiation, and network effects to drive platform success and market positioning. (Aligned with LO4, emphasising strategic planning skills for competitive advantage.) - Assess the Role of Emerging Technologies in Platform Strategy: Examine how advancements like artificial intelligence influence personalisation and engagement strategies on network platforms. (This supports LO7, integrating technology assessment into platform strategy development.) - Propose Strategic Improvements or New Network Platforms: Develop a business plan for a new network platform or propose strategic enhancements for an existing one, applying principles of network economics and competitive strategy. (This skill aligns with LO4 and LO6, emphasising planning and strategic improvement skills for real-world application.) Main Text/s and any supplementary readings: Main Texts: - Moser, T., Bloom, C., Akhtar, O., & Aaker, D. (2023). Winning Through Platforms: How to Succeed When Every Competitor Has One. Emerald Publishing. [Available via the Library: https://hydi.um.edu.mt/permalink/356MALT_INST/7tps1/alma993954964403956] - Parker, G. G., Van Alstyne, M. W., & Choudary, S. P. (2016). Platform revolution: How networked markets are transforming the economy and how to make them work for you. WW Norton & Company. - Bhargava, H. K., Rubel, O., Altman, E. J., Arora, R., Boehnke, J., Daniels, K., Derdenger, T., Kirschner, B., LaFramboise, D., Loupos, P., Parker, G., & Pattabhiramaiah, A. (2020). Platform data strategy. Marketing Letters, 31(4), 323–334. https://doi.org/10.1007/s11002-020-09539-3 - Constantinides, P., Henfridsson, O., & Parker, G. G. (2018). Introduction—Platforms and Infrastructures in the Digital Age. Information Systems Research, 29(2), 381–400. https://doi.org/10.1287/isre.2018.0794 - Eisenmann, Thomas R., Geoffrey Parker, and Marshall Van Alstyne. "Opening Platforms: When, How and Why?" Chap. 6 in Platforms, Markets and Innovation, edited by Annabelle Gawer. Cheltenham, U.K. and Northampton, MA: Edward Elgar Publishing, 2009. - Eisenmann, T. R., G. Parker, and M. van Alstyne. "Strategies for Two-Sided Markets." Harvard Business Review 84, no. 10 (October 2006). - Choudary, S. P., & Schumacher, M. (2019). Every company needs to have a strategy for the platform economy. Marketing Review St. Gallen, 36(2), 7-11. - Petropoulos, Georgios and Martens, Bertin and Parker, Geoffrey and Van Alstyne, Marshall W., Platform Competition and Information Sharing (September 29, 2023). Available at SSRN: https://ssrn.com/abstract=4528803 or http://dx.doi.org/10.2139/ssrn.4528803 - Van Alstyne, M., & Parker, G. (2017). Platform Business: From Resources to Relationships. GfK Marketing Intelligence Review, 9(1), 24–29. https://doi.org/10.1515/gfkmir-2017-0004 |
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| STUDY-UNIT TYPE | Lecture | ||||||
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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