MKT20020 Marketing: Firms, Customers & Society

Academic Year 2022/2023

Today’s marketing is all about creating customer value and building profitable long-term and mutually beneficial relationships in socially responsible ways between an organisation and the public it serves. The essence of successful marketing is to combine a detailed understanding of market needs and dynamics with appropriate product/service offerings and effective communication strategy. The job of the Marketing Manager is to achieve this match; to take responsibility for the process of understanding and matching customer needs with company competencies to produce products/services with a unique competitive positioning which are capable of yielding sustained profitability and growth. To fulfill this function requires the Marketing Manager to make key decisions about who the company wants as its customers, which needs to satisfy, what products and services to offer, what prices to set, what communications to send, and what partnerships to develop. Key skills of the Marketing Manager include market research, strategy development, planning and budgeting, new product innovation and ideas, and designing effective communications campaigns harnessing new marketing technologies. This course will focus on the major decisions that marketing executives and top management face in their efforts to harmonise the objectives and resources of the organisation with the needs and opportunities in the market place.

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Curricular information is subject to change

Learning Outcomes:

• To outline and examine the critical decisions which have to be addressed in designing a customer-driven marketing strategy in a socially responsible way such as:o Understanding the role of modern Marketing in an innovative and practical way.• Review the underlying marketing process • Understanding the Marketplace and Customer Needs• Identify the main social criticisms of marketing• Explain how consumerism and environmentalism affect marketing strategies• Understand the principles of socially responsible marketing• Explain the role of ethics in marketing• Understanding dimensions of sustainable marketingo How marketing creates customer value and relationships• Define customer value and discuss its importance in creating and measuring customer satisfaction.• Explain the importance of retaining current customers as well as attracting new ones.• Understand the role and operation of customer relationship management.o Understanding competitive strategy • Discuss the need to understand competitors as well as customers through competitor analysis.• Explain the fundamentals of competitive marketing strategies based on creating value for customers.• Illustrate the need for balancing customer and competitor orientations in becoming a truly market-centered organisation.o Product and Branding Decisions• Define the term product including the core, actual, and augmented product.• Explain the main classifications of products.• Describe the decisions companies make regarding their individual products, product lines, and product mixes.• Discuss branding strategy—the decisions companies make in building and managing their brands.• Discuss additional branding issues with respect to socially responsible brand decisions and international marketing.o New-product development and product life-cycle strategies• Explain how companies find and develop new-product ideas.• List and define the steps in the new-product development process and the major considerations in managing this process.• Describe the stages of the product life-cycle.• Explain how marketing strategy changes during a product’s life-cycle.o Marketing Services Decisions• Describe the nature and special characteristics that affect the marketing of services.• Identify the additional marketing considerations that services require.• Explain the marketing strategies for improving service differentiation, quality and productivity.• Describe the nature and special characteristics of non-profit marketing.o Pricing Decisions• Discuss the role of pricing and why it is important to understand customer value perceptions when setting prices. • Discuss the importance of company and product costs in setting prices. • Identify and define the other important internal and external factors affecting a firm’s pricing decisions. • Describe the major strategies for pricing new products.• Explain how companies determine a set of prices that maximise the profits from the total product mix.• Discuss how companies adjust prices which take into account different customer and market situations.• Discuss the key issues related to initiating and responding to price changes.o Integrated marketing Communications Strategy• Define the five promotional tools and discuss the factors that must be considered in shaping the overall promotion mix. • Discuss the process and advantages of integrated marketing communications in communicating customer value. • Outline the steps in developing effective marketing communications. • Explain the methods for setting the promotion budget and factors that affect the design of the promotion mix.o Advertising Decisions• Define the roles of advertising in the promotion mix.• Describe the main decisions involved in developing an advertising programme.o Public Relations• Define the role of public relations in the promotion mix.• Explain how companies use public relations to communicate with and influence important publics.o Sales Promotion• Explain how sales promotion campaigns are developed and implemented.o Personal Selling• Discuss the role of a company’s salespeople in creating value for customers and building customer relationships.• Identify and explain the major sales force management steps.• Discuss the personal selling process, distinguishing between transaction-oriented marketing and relationship marketing.o Direct and online marketing• Define direct marketing and discuss its benefits to customers and companies. • Identify and discuss the major forms of direct marketing.• Explain how companies have responded to the Internet and other powerful new technologies with online and digital marketing strategies.• Discuss how companies go about conducting online marketing to profitably deliver more value to customers.• Overview the public policy and ethical issues presented by direct marketing.o Managing Marketing Channels• Explain why companies use marketing channels and discuss the functions these channels perform.• Discuss how channel members interact and how they organise to perform the work of the channel.• Identify the major channel alternatives open to a company, and how companies select, motivate, and evaluate channel members.• Explain the role of retailers ad wholesalers in the distribution channel.o Applying the marketing concepts to critical issues relating to a real marketing situation• The primary focus of the company case scenarios is to develop participants’ conceptual and analytical skills to enhance their strategic thinking by developing an appropriate response to a number of critical issues relating to a real marketing situation

Indicative Module Content:

Please refer to Module Outline on Brightspace for details

Student Effort Hours: 
Student Effort Type Hours
Specified Learning Activities

45

Autonomous Student Learning

45

Lectures

24

Total

114

Approaches to Teaching and Learning:
Mini-assignments and quizzes
End of term paper 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Incompatibles:
MKT10720 - Marketing: An Introduction, MKT20010 - Marketing, SMGT10080 - Sports Marketing I


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Mini Assignments/Quizzes Throughout the Trimester n/a Graded No

20

Assignment: Term Paper Coursework (End of Trimester) n/a Graded No

80


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring No
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Group/class feedback, post-assessment
• Online automated feedback

How will my Feedback be Delivered?

Not yet recorded.

Name Role
Dr Efe Camurdan Lecturer / Co-Lecturer
Professor Damien McLoughlin Lecturer / Co-Lecturer
Dr Julie Schiro Lecturer / Co-Lecturer
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Autumn
     
Lecture Offering 1 Week(s) - Autumn: All Weeks Wed 16:00 - 17:50
Lecture Offering 2 Week(s) - Autumn: All Weeks Thurs 09:00 - 10:50
Lecture Offering 4 Week(s) - Autumn: All Weeks Thurs 12:00 - 13:50
Autumn