This module deals with introducing students to the core principles of marketing. To this effect it focuses on examining what marketing actually is, and defining the
marketing concept. The environment within which both marketing activities are deployed and in which consumers react is then examined. The tactical components of the marketing mix – the 4P’s are then presented and discussed
The aim of this module is to provide, for the learner, the foundation for understanding the “what, where, who and when” of marketing activity and encourages learners to focus in on marketing activities directed at them in their role as consumers and to understand the theoretical underpinnings of such activities and strategies through a detailed examination of the module content.
What is marketing? Marketing defined. The Marketing concept and the origins and development of marketing to date. Company orientations towards the marketplace.
Marketing as a business philosophy; as an organisational function and as a management function.
Marketing and its Environment:
Environmental forces within the macro and micro-environment.
Marketing Segmentation, Targeting and Positioning Strategies:
The concept of segmentation. Segmenting consumer markets. Defining, selecting and implementing positioning strategies.
Product Strategy:
What is a product? Dimensions of a product. Classifying products. Product management strategies. Product life cycle strategies and uses of the PLC analysis.
What is a Brand? Implications of brands for buyers and sellers. Branding strategies.
Pricing Concepts and Strategies:
External and internal influences on the pricing decision. Pricing policies and
strategies. The role of price in the marketing mix. Pricing tactics and adjustments.
Marketing Communications and Promotions Strategy:
Components of the promotional mix. The role and definition of the promotional
tools: sales promotion, advertising, personal selling and PR. Factors to consider in
setting the marketing communications mix. Impact of technology on mix elements.
The role of Digital.
Marketing Channels/Distribution:
Definition of marketing channels and examination of channel strategy. Retailing and
wholesaling of goods and services and management strategies. Non-store retailing.
Emerging forms of channel structure.
A combination of lectures, workshops, videos, group work and guest presentations will be used to ensure alignment with the learning outcomes and the assessment as set out below. The instructor acts as a facilitator, balancing the needs of the student to acquire the necessary knowledge of the discipline with the requirement to nurture a competence to apply these concepts and make informed decisions in a real-world context.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Other Assessment(s) | 100 |