Building on years 1 and 2 and incorporating their practical experience, this module aims to give learners an appreciation of the importance of planning and control in marketing activities; of using a structured approach to developing marketing plans; the importance of assessing and analysing the marketing environment and of evidence based decision making.
The marketing planning process
Why planning is important; the elements of the marketing plan; the role of the marketing plan within overall PLOC strategy of the organisation.
The elements of the marketing environment (macro and micro forces); analysing the marketing environment (using e.g. Steeple / SWOT / Porter's 5 forces) ; environmental scanning and the appropriate use of the MkIS to gather information; the role of influencing; the impact of environmental change on business decision-making.
Assessing consumer behaviour both on and offline in order to identify consumer cohorts with similar needs who may form the basis for a target market; deriving and inferring meaningful consumer insights; using those insights as the basis for activities / developing the marketing plan.
Organisational Buying Behaviour
Organisational buying behaviour - the Organisational DMP; RfT and the procurement process; CRM and managing relationships; personal selling and influencing; the importance of technology in enhancing B2B marketing
The market research process
Market Research - the role of market research in developing marketing plans, the marketing research planning process; types of research and their usefulness in marketing decision making; the impact of technology on market research
Segmentation Targeting & Positioning
The STP process - developing market segments based on an appropriate basis for segmentation; assessing market / segment attractiveness; profiling target markets; developing positioning and its articulation.
The Marketing Mix
The marketing mix - the 4 P's and the extended marketing mix. The role of each element in articulating positioning; the implementation of the mix both on- and offline to ensure consistency of positioning; thebenefits and challenges presented by the global nature of the digital environment;
Innovation & the NPD process
NPD and innovation - why, how and when NPD is relevant and appropriate; the NPD process; sources of innovation and creativity; models of innovation; PLC and the impact of shortening life cycles, increasing competition and IP protection on innovation; use of strategic product failure.
Measurement and Control
Setting appropriate objectives and measuring their achievement or not; revising and adapting plans in an appropriate fashion based on results; evidence based decision making.
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