BE554-7-AU-CO:
Marketing Strategy

The details
2024/25
Essex Business School
Colchester Campus
Autumn
Postgraduate: Level 7
Current
Thursday 03 October 2024
Friday 13 December 2024
20
21 September 2023

 

Requisites for this module
(none)
(none)
(none)
(none)

 

BE564

Key module for

MSC N51012 Marketing,
MSC N51024 Marketing,
MSC N50012 Digital Marketing and Analytics,
MSC N50024 Digital Marketing and Analytics

Module description

This module focuses on strategically analysing and solving marketing problems from a decision-maker's perspective. Specifically, the module focuses on understanding and effectively using the fundamental frameworks, processes, and analysis tools of marketing strategy.

Module aims

The aims of this module are:



  • To introduce the key principles of marketing strategy.

  • To introduce the key strategies by different firms to successfully design, develop, and launch their marketing strategies.

  • To introduce the key practices of segmentation, targeting, positioning, acquisition, expansion, retention, managing competitive advantage, and managing resources.

Module learning outcomes

By the end of this module, students will be expected to be able to:



  1. Demonstrate an understanding of key marketing principles that highlight the core foundations of marketing strategy.

  2. Critically evaluate and analyse the importance of managing customer heterogeneity.

  3. Critically evaluate and analyse the importance of managing customer dynamics.

  4. Identify and analyse key marketing-based drivers of sustainable competitive advantage, including brand-based, offering-based, and relationship-based sources.

  5. Critically evaluate and analyse different strategies undertaken to manage resource trade-offs.


Skills for Your Professional Life (Transferable Skills)


This module adopts a philosophy of experiential learning and aims to develop and further improve your employability skills:



  1. Teamwork and leadership skills; as you will be working with your team for the whole term, and you will be expected to lead on certain aspects of the project.

  2. Excellent communication skills (oral and written) required for the presentation as well as your written coursework.

  3. Excellent organisational skills manifested in the management of your own project, meeting various deadlines and prioritising tasks.

  4. Employability: as this module will give you the chance to work closely with local businesses and local employers. You are expected to act professionally throughout.

Module information

Developing an effective marketing strategy is essential which involves making critical decisions, such as identifying target markets, determining how to generate value for consumers and stakeholders, and establishing a sustainable competitive advantage.


The module attempts to simplify the design and development of marketing strategy for firms by arguing that managers' marketing decisions should focus on solving four underlying "problems" or "complexities" that all organisations face when designing and implementing their marketing strategies. As such, most of the frameworks, processes, and analyses developed by marketing researchers, consultants, and managers are focused on solving four fundamental marketing problems: (1) All customers differ; (2) All customers change; (3) All competitors react; and (4) All resources are limited.


Using the relevant marketing frameworks, processes, and analyses to solve each of these four underlying marketing problems is termed the First Principles of Marketing Strategy and represents the focus of this module. Specifically, the first two lectures provide an overview of marketing strategy, introduce each of the First Principles of Marketing Strategy, and outline the basic research methods and analyses needed in marketing strategy. The next six lectures provide an in-depth coverage of the First Principles of Marketing Strategy. Finally, the last two sessions focus on executing marketing strategies in two different ways.


This module builds on the topics explored in Marketing Management by focusing on specific marketing strategies (e.g., developing and launching innovative products, building customer loyalty) and critical marketing tools/processes (e.g., factor, cluster and conjoint analysis, choice models) in greater detail and accentuating the integrative nature of the marketing function through the development of a marketing plan and use of marketing analytic tools such as SPSS, Enginius, and Markstrat.


Some critical success factors for business leaders include framing the business issue or problem (frameworks), outlining the steps for solving problems (processes), collecting data and applying analysis tools to inform problems (data collection and analyses), and weighting and integrating information to make choices (decisions). Thus, the overall objective of the readings, lectures, in-class exercises, assignments, and cases will focus on these critical success factors.


A "Tell-Show-Do" sequence will be used to give students hands-on experience in using the coursematerials for making marketing decisions. The first part uses lectures to present and discuss coursetopics. Reading the assigned material prior to class and active involvement during the lecture will increase the value you gain from the class, as well as make it more interesting foreveryone. During some sessions, in-class exercises function to make the topic more "real," and not just an academicexercise. The second part of many sessions will often include a case, data analysis, or discussion,usually related to the same topic as the lecture. Similar to the expectations in your other modules,preparation is paramount to making the class discussion valuable.

Learning and teaching methods

This module will be delivered via:

  • One 3-hour lecture and seminar per week.

A "Tell-Show-Do" sequence will be used to give students hands-on experience in using the course materials for making marketing decisions.

The first part uses lectures to present and discuss course topics. Reading the assigned material prior to class and active involvement during the lecture will increase the value you gain from the class, as well as make it more interesting for everyone. During some sessions, in-class exercises function to make the topic more "real," and not just an academic exercise.

The second part of many sessions will often include a case, data analysis, or discussion, usually related to the same topic as the lecture. Similar to the expectations in your other modules, preparation is paramount to making the class discussion valuable.

Bibliography

The above list is indicative of the essential reading for the course.
The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students.
Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   Group Presentation    50% 
Coursework   2000 word individual essay    50% 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
100% 0%

Reassessment

Coursework Exam
100% 0%
Module supervisor and teaching staff
Dr Muhammad Akram, email: m.akram@essex.ac.uk.
Dr Shakaib Akram & Dr Polly Sokolova
ebspgtad@essex.ac.uk

 

Availability
Yes
No
No

External examiner

Dr Stephanie Anderson
Resources
Available via Moodle
Of 30 hours, 30 (100%) hours available to students:
0 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Essex Business School

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