1 x 3-hour seminar weekly
Topic description

This topic introduces students to the topic of marketing strategy and how decisions are made when determining the best strategy. It provides an appreciation of where marketing strategies fit within the overall corporate and business strategies of an organisation, and the importance of these. The topic explains how the focus of marketing plans will vary according to the stage of the product's life cycle. Other key subject areas will include the marketing mix, target marketing, consumer segmentation, and strategic market planning.

Educational aims

This topic aims to provide students with:

  • The fundamental theories relating to strategic marketing
  • Knowledge to recognise the strategic aspects of marketing and understand how the marketing strategy fits within the overall business strategy of an organisation
  • An appreciation of the effects of the product life cycle on marketing plans, and the marketing mix, which includes product, price, promotion and distribution
  • The skills necessary to decide between different marketing strategies and marketing plans for businesses
Expected learning outcomes
On completion of this topic you will be expected to be able to:

  1. Explain various marketing concepts, their connection with marketing strategies and their application in a marketing plan
  2. Examine and analyse the internal and external environment that influences strategies and decisions
  3. Identify tools and models for developing marketing strategy and planning
  4. Critique concepts and theories in relation to marketing strategies and planning
  5. Identify the best approach amongst different alternatives when determining marketing strategy
  6. Communicate well in a group environment and work collaboratively
  7. Develop a concise marketing plan
  8. Use marketing planning concepts and critical thinking to provide the rationale for strategic decisions