Module BUSI40B15: STRATEGIC MARKETING (FT)

Department: Management and Marketing

BUSI40B15: STRATEGIC MARKETING (FT)

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To cover some of the major aspects of strategic marketing. It addresses the key issues of competing for the future, the quest for competitiveness, industry foresight, as well as the all-important area of strategic intent, which embraces strategic vision and mission. Without the appropriate mindset within a competitive and turbulent environment, strategic marketing decision-making is hampered. This elective then goes on to critically examine some of the key marketing strategies, which are fundamental to pursuing sustainable profitable growth. Central to marketing strategies designed to both change customer preferences in existing markets and create new markets, are value innovation, core competencies and brand management.

Content

• The Nature of Strategic Marketing.
• The quest for competitiveness, industry foresight and competing for the future.
• Company-related Issues.
• Strategic intent: vision and mission.
• Core competencies (technical and non-technical).
• Value Innovation.
• Competition-related Issues.
• Business as a competitive game.
• Marketing strategies based on a combination of core competencies and market attractiveness.
• Time-based competition.
• Customer-related Issues.
• The Customer Perspective of The Balanced Scorecard.
• Customer Satisfaction, Customer Acquisition and Customer Retention.
• Differentiation.
• Relationship Marketing.
• Brand Equity and Brand Image.

Learning Outcomes

• Upon successful completion of the module, the students will:
• have developed a strategic marketing perspective within the context of strategic management;
• have a critical knowledge and understanding of the importance of value innovation around end products as a source of competitive advantage;
• have a critical knowledge and understanding of the importance of core competencies as a basis for developing marketing strategies;
• have a critical knowledge and understanding of competitive strategies as a means of filling the profit "gap";
• have a critical knowledge and understanding of the nature and importance of relationship marketing as part of the value equation;
• have a critical knowledge and understanding of the nature and importance of differentiation as part of the value equation;
• have a critical knowledge and understanding of the nature and importance of brand equity as part of the value equation.

• Upon successful completion of the module, the students will::
• be able to make recommendations with regard to the implementation of a value innovation strategy;
• be able to develop a statement of strategic intent to facilitate both the formulation and implementation of marketing strategies;
• be equipped to develop a Strategic Marketing Plan.

• Written communication;
• Planning, organising and time management;
• Problem solving and analysis;
• Using initiative;
• Computer literacy.

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

• Learning outcomes will be met through a combination of lectures, groupwork, case studies and discussion, supported by guided reading. The written assignment will test students' understanding of relevant concepts and their ability to apply and interpret what they have learned to the analysis of a particular issue in depth.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

None.

■ 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