| CODE | MRK5814 | ||||||||||||||||
| TITLE | Marketing Strategy: Planning and Simulation | ||||||||||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||||||||||
| MQF LEVEL | 7 | ||||||||||||||||
| ECTS CREDITS | 5 | ||||||||||||||||
| DEPARTMENT | Marketing | ||||||||||||||||
| DESCRIPTION | The study-unit exposes participants to the realities of marketing decision making in a simulated consumer market environment. Students will participate in analytic and planning tasks in groups that emulate the dynamics of decision making teams. Study-unit Aims: The study-unit aims to: 1. Demonstrate the components and the associated complexity of strategic marketing decisions in a simulated environment; 2. Explore the intricacies of the reality of marketing decision making in a team environment; 3. Expound how organizational objectives guide marketing decisions in implementing branding, product, pricing, communications, distribution and sales force decisions; 4. Demonstrate the value of customer insight available from different sources in marketing decisions (see 3 above). Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: a) identify the impact of strategic decision making on marketing and organisational financial performance; b) relate to how to meet customer wants through optimized marketing strategies that influence the company’s financial outcomes; c) recognise the balance between long-term and short-term objectives; d) appraise the impact of various options of marketing mix variables, segmentation and positioning strategies as well as customer insight use on the profitability of a firm; e) relate to the behaviour of competition in a simulated market setting; f) comprehend the dynamics of management team and member behaviours. 2. Skills By the end of the study-unit the student will be able to: a) analyse customer, market, operations and competitor data to synthesise customer insight; b) employ situation specific customer insight in strategic marketing decisions; c) distinguish between evidence and intuition in decision making processes; d) design customer oriented marketing strategies that deal with competition and market change effectively; e) recognise and manage information overload that is an increasing phenomenon in current marketing roles; f) implement strategies to manage time effectively. Main Text/s and any supplementary readings: - Mason C.H. & Perreault Jnr. W. (2002) The Marketing Game, Mc. Graw Hill Irwin. ISBN 978-0256139884. - McDonald, M. & Wilson, H.N. (2016) Marketing Plans: How to prepare them, how to profit from them. 8th Edn. Wiley. ISBN 978-1119217138. Supplementary readings: - Baker, M.E. (2007) Marketing Strategy & Management. 4th Edn. Palgrave Macmillan. ISBN 978-403986276. - Volberda, H W., Morgan, R.E., Reinmoeller, P, Hitt, M.A., Ireland, R.D. and Hoskisson, R.E. (2011), Strategic Management - Competitiveness and Globalization, South Western. ISBN 978-1408019184. Various textbooks from other marketing topics will be referred to. |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Peter Calleya Emanuel Said |
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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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