CBM822 Marketing Strategy

To develop in learners a depth of understanding and application of the principles and practice of marketing, with the ability to analyse, solve problems and undertake effective marketing decision making

On completion of this module students are expected to be able to:

i.Critically assess markets, marketing systems and processes, through the understanding and application of advanced and specialised concepts and issues associated with segmentation, targeting and positioning of markets

ii.Critically assess markets, marketing systems and processes, through the understanding and application of advanced and specialised concepts and issues associated with segmentation, targeting and positioning of markets

iii.Conceive and evaluate marketing strategies, and deal with implementation issues.

iv.Apply marketing concepts in the solution of complex business problems and be able to develop a strategic marketing plan.

Assessment:

The assessment for this module consists of a single piece of coursework which will be issued at the start of the module. This coursework is an individual piece of work – not a group exercise.  The coursework will test a student’s ability to satisfy the criteria outlined as well as address the relevant Learning Outcomes.

It should be borne in mind that the aim of the submission is to demonstrate the ability clearly to address all the requirements of the brief and apply pertinent theory in a practical context.

This module will concentrate on the challenges, issues and opportunities presented by the marketing environment. A good level of knowledge and understanding of marketing is required to do well in the module and as such, those both familiar and unfamiliar with the concepts and techniques should read the relevant materials and chapter/s before the lecture and before attempting the subsequent self-direct exercises. This will permit the application of the concepts and techniques within the taught sessions. You should, as a result, be able to demonstrate strategic thinking, critical analysis and evaluation.

Lectures

The purpose of lecture sessions is:

·To inform on the main topic being covered by the session

·To provide contemporary thinking in the topic concerned

·To provide an opportunity for Q&A on any of the topics being explored, or the self-directed exercises

Materials can be viewed via MyMoodle and the Aspire List prior to the lecture sessions.  Lectures will be recorded on a weekly basis.

Self-directed exercises

These weekly exercises are provided to further explore the topics introduced in the lectures and apply the principles to different industries and organisations. The schedule is contained in this guide and requires you to have read the prescribed materials from the list and take an active part in these exercises, so embedding your knowledge and understanding of the subject. Please ensure that you engage with these materials and ask any relevant question in the weekly live lecture sessions.  A model answer for each exercise will be posted on a weekly basis.

If the word count of an assessment is considered critical, then this will be reflected in the assessment criteria for that assessment.

Generally, the title page, executive summary (or abstract), contents page, lists of tables and figures, glossary (if required), reference list, bibliography (if required) and any appendices are not part of the word count.

Everything in the main body of text, including headings, sub-headings, citations and direct quotes, is included in the word count.

Anything you consider essential for your marker to read should be in the main body of text. Anything that is supplementary or supporting material should be in the appendices. Regarding tables in the main body of text:

·A table containing mainly numeric content would not be considered part of the word count.

·A table containing mainly text content would be considered part of the word count.

The objective of this assignment is to allow students to demonstrate understanding of the main concepts related to marketing theory and models, specifically inviting them to undertake marketing analysis and preparation of a marketing plan in a practical context.

1. Explain the theoretical concepts related to market analysis, and planning.

2. Identify and evaluate (through research and market place understanding) the influence of internal and external forces on how to sustain competitive advantage.

3. Identify and evaluate elements of a marketing plan that align with the organisation’s principal business objectives.

4. Draw upon academic theory, and integrate this theory within the practical context.

TASK: You are required to write a marketing plan for an existing international company of your choice for the launch of a new product or service in the UK (this can be based on your interests/related to your degree programme). You will be responsible for developing the idea for this new product, on which this marketing plan will be based. It is VITAL that all recommendations in the marketing plan are related back (with the use of supporting RGU Harvard referencing) to the relevant underpinning theories addressed in lectures to show your understanding of the concepts being addressed.

The quality / viability of the new product itself is not the focus of this work it is HOW the marketing of it should be conducted.

Section One: The Company and Situational Analysis (30%)

·A brief outline of the company and a brief overview of the new product/service being proposed;

·Detailed analysis of the market which the product/service will be launched into; size, trends, PEST(LE) and SWOT analyses, buyer behaviour and competitor analysis

Section Two: New Product/Service Objectives and STP (20%)

·For the new product/service propose SMART marketing objectives for the first year;

·Identify the target audience, specifying the segmentation variables used;

·Propose a targeting strategy

·Justify the positioning of the new product/service (USP)

Section 3: New Product/Service Marketing Mix: (30%)

·Provide recommendations on the product, price, place, promotion elements of the marketing mix for the new product/service for the launch and any other of the service (extended marketing mix) related to your venture.

Section 4: Evaluation, Implementation & Control

·Propose an evaluation, implementation & control plan

Section 5: Professionalism and Presentation (10%)

·Ensure cohesion of the document overall (thus demonstrating clear group working skills

·ALL sections must be underpinned by relevant academic theories/discussion

·Ensure a detailed and informative executive summary is provided

Answers that are entirely theoretical or purely anecdotal will inevitably be restricted in terms of the marks they will achieve. The key is to undertake appropriate research with the aim of delivering a well-written, well presented and well edited summary of the organisational practice in relation to relevant theory.  It should be noted that a formal marketing plan may not be accessible, so reasonable assumptions can be made e.g. you may not be able to access financial information for budgeting but can make reasonable assumptions as to the costs involved in your proposed approach.