Modular value: 20 credits
The module will explore the interface between marketing and strategy. It will position marketing within the externally and internally defined competitive environment of the firm. In the introduction of the module issues faced and decisions to be made by a strategic marketer will be in focus. Further on, various methods of analysis will be used to assist management in this endeavour.
The module gives deep insight and understanding of the main issues that comprise marketing strategy development and implementation referring to: identifying and evaluating product/market opportunities; unveiling non-exploited consumer demand; holistic analysis of competition; resolving and developing competitive edges; foreseeing environmental changes through proactive approaches to the marketplace; forecasting results of strategy implementation and resource allocation.
A set of well-tested methods addressing each of the strategic marketing issues will be applied. They will provide information on how to implement or guide research serving as a basis for strategic marketing decisions. The analysis of contemporary marketing theory and practice will be developed through a balanced blend of guided reading, formal lectures and in-depth class discussions, as well as group case study analysis. Considerable emphasis is placed on self-study and reading.
On completion of this module the students should be able to:
- Identify and evaluate the characteristics of a market environment comprising of socio-political and cultural milieu, supplier, industry structure, competitor, consumer and firm variables.
- Understand the boundaries of strategic marketing impacting decisions and influencing the market scope and competitive advantage.
- Make strategic marketing decisions on a company level, having assessed a number of alternatives using a problem oriented approach.