Module BUSI2301: Marketing Decisions in Practice

Department: Management and Marketing

BUSI2301: Marketing Decisions in Practice

Prerequisites

• BUSI1131 Marketing Principles

Corequisites

• BUSI2171 Strategic Brand Management; BUSI2201 Integrated Marketing Communications

Excluded Combination of Modules

• None

Aims

• To provide a learning environment which gives students an understanding of how marketing decisions are made in practice and possible responses to the consequences of those decisions
• To consolidate and extend students’ understanding of marketing strategy and planning in theory
• To develop skills of critical reflection relating to their own and others’ decision-making within a team environment

Content

• The processes of marketing strategy and planning
• Analysis of competitive markets
• Evaluation and selection of target markets
• Achievement of competitive positioning in the marketplace
• Branding decisions
• Selection of appropriate marketing tactical actions
• The role of market research to support decision-making
• Reflecting on decisions

Learning Outcomes

• Understand marketing strategy and planning in an applied context
• Identify the impact of tactical actions on marketing Key Performance Indicators (KPIs)
• Appreciate the importance of evidence and information to marketing decision-making

• Work effectively as a team to make appropriate marketing planning decisions
• Identify and utilise relevant information to support decisions
• Reflect on the outcomes of those decisions and identify corrective tactical actions

• Team-based collaborative working
• Co-operative learning
• Planning, organisation, and time management
• Problem-solving
• Communication skills - both oral and written
• Commercial awareness
• Critical reflection

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• The foundation of the module is participation in a time-based, online simulation exercise designed to consolidate and develop students’ understanding of applied marketing strategy and tactics. Each week in the first term, students will work together in small teams to manage competing brands within a specific product market. In the simulated real-time environment, students will learn to understand the customer, analyse the market structure and competition, set marketing strategy, implement tactical marketing decisions and ultimately, compete with other teams to win market share. As a team, students are required to agree and input their marketing decisions into the simulation. Preparation for each element of the simulation takes place as independent, group-based working. The second term will develop skills in the preparation of a marketing plan for a real (currently operating) organisation. Assessment will be based on both the simulation and the marketing plan.
• The module will be taught in 2 hour blocks and will focus on (a) reviewing and discussing the output from the previous element of the simulation/marketing plan and (b) identifying the relevant theoretical foundations which will enable to students to participate effectively in the next element of the simulation/plan. This gives students time for both reflection and appropriate conceptual understanding.
• Through immersion in a virtual professional setting, students will be able to appreciate how theory relates to practice and how to apply it effectively. In addition, they will be required to reflect on the consequences of their decisions and decision-making processes – both individually and in teams.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Formative assessment occurs at each stage - both the time-based simulation (Term 1) and the preparation of the marketing plan (Term 2). Simulation: Teams enter their marketing decisions and receive feedback on the impact of their decisions on Key Performance Indicators (KPIs), including competitive performance in relation to other teams in the simulation. A summary document on all decisions is available at the end of the simulation. Tutor and peer feedback will be available in the timetabled sessions. Marketing Plan preparation: Tutor and peer feedback will be available in the timetabled sessions.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University