Newcastle University

Pre Requisite Comment

Students should be familiar with the principles of marketing. This module enables students to apply principle of marketing, crically think and analyse, and develop marketing strategies.

Co Requisite Comment

N/A

Aims

The aim of this module is to introduce students to the concept of strategy (red-/blue ocean) as a process to achieve sustainable competitive advantage in today's fast-pace, digital, disruptive business environment. Marketing strategy is a process that helps enterprises and organisations to analyse their business environment and identify business opportunities to achieve their goals (profitable/non-profitable).

The first semester focuses on the strategic analysis of the market drivers such as consumers, competitors, the industry and the macro environment of political, economic, technological, ecologic and legal disruptions. Being capable of analysing and monitoring such trends places enterprises and organisations in a better position to evaluate and select long-and short-term implementation of marketing efforts.

The second semester focuses on the planning and implementation of strategic moves. Based on the insights gained from semester 1, semester 2 introduces comprehensive planning frameworks and techniques drawing from traditional (red ocean) and contemporary (blue ocean) understandings of strategy, which will booster students' understanding and skillset of designing effective integrated marketing programs, and managing customer relationships for the long term.

Using contemporary and cutting edge concepts and cases, the module also emphasises the need for integrity in the strategic planning process, as well as the design of marketing programs that are both ethical and socially responsible. An emphasis on critical thinking enables students to understand the essence of how marketing decisions fit together to create a coherent strategy. Throughout the module, examples of successful and unsuccessful planning and implementation are used to illustrate how firms face and fail the challenges of marketing strategy in today’s economy. In particular, this module will be delivered through introducing relevant literature, learning experiences, and industry-linked case studies to guarantee transfer knowledge from theory to practice.

Outline Of Syllabus

1. Introduction to strategy (red vs. blue ocean)      
2. Market Analysis I&II: Consumer & Competition
3. Business Analysis I& II : Industry & Environment
4. Business Analysis III: Enterprise
5. Competitive Advantage and Generic Strategies
6. Growth Strategies
7. Segmentation, Targeting, Positioning
8. Marketing Planning and Implementation I
9. Marketing Planning and Implementation II
10. Ethics and corporate social responsibility in strategy
11. Strategy for Leaders
12. Strategic Marketing for B2B

Intended Knowledge Outcomes

Having successfully completed this module, students will be able to:

- Understand and differentiate between traditional (red ocean) and contemporary (blue ocean) principles of strategic management and appreciate its importance for understanding competitive advantage.

- Comprehend and apply these different analytical concepts and best practices when conducting external/internal as well as micro/macro business analyses.

- Understand where to gain relevant market driver insights from and how to conduct a business analysis.

- Understand the value of the strategic canvas for competitive advantage.

- Critically evaluate and orchestrate the employment and merger of blue ocean, generic- and growth strategies to create/maintain sustainable competitive advantage.

- Utilise best practices to strategically developing, planning and implementing a marketing plan.

- Appreciate the importance of ethics and corporate social responsibility.

Intended Skill Outcomes

By the end of this module, students should have developed their core skills as follows: independent and resourceful analytical skills (via hands-on training to conduct a real business analysis and first attempts at generating insights from data), creative-/ critical thinking and problem solving (via exposure to real world cases in-class and assessment as well as guest-lectures); information literacy and written communication (via written reports); interpersonal communication (via various forms of discussions and workshops taking place on different platforms).

Teaching Rationale And Relationship

This module has received a complete overhaul in terms of content, structure and assessment requirements. The module will be delivered through introducing cutting edge concepts, relevant literature, interactive learning experiences, and industry-linked case studies. There will be a series of lectures, seminars, and group discussions held on various platforms throughout the semester. Students are expected to participate actively and positively in the teaching/learning environment to make the most out of their learning experience.

Assessment Rationale And Relationship

Assessment 1: 2000 words analytical business report. Using red-/blue ocean analytical concepts, students are asked to produce a solid piece of market research on a company/brand/organisation/service of their choice and critically analyse their marketing strategy in comparison to a different, relevant case study.

Assessment 2: 2000 words strategic marketing plan. Based on generated insights in semester 1 and using implementation frameworks, students are asked to produce a goal oriented, strategic marketing plan for their chosen company.

General Notes

N/A