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

Marketing strategy is a process that can allow a business to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a business and the formulation, evaluation and selection of market-oriented strategies. How businesses plan, develop, and implement marketing strategies is the focus of this module. To achieve this focus, this module provides a systematic, practical, straightforward approach to analysing, planning, and implementing marketing strategies. This approach focuses on real-world applications and practical methods of marketing planning, including the process of developing a marketing plan.

The module approach initially is to provide a comprehensive planning framework based on conducting sound background research, developing market capabilities and competitive advantages, designing integrated marketing programs, and managing customer relationships for the long term. This 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 (both analytical and creative) enables students to understand the essence of how marketing decisions fit together to create a coherent strategy. Throughout the module, examples of successful planning and implementation to illustrate how firms face the challenges of marketing strategy in today’s economy will be provided. In particular, this module will be delivered through introducing relevant literature, learning experiences, and industry-linked case studies; so that theory and practice go together.

Outline Of Syllabus

1. Introduction to market-led strategic management      
2. Strategic marketing planning
3. Environment, industry, competitor, and market analysis
4. Understanding the organisational resource-base and capability-base view
5. Identify current and future competitive position
6. Market segmentation and positioning principles
7. Principles to create sustainable competitive advantage
8. The marketing program: Competing through the new marketing mix
9. The marketing program: Competing through the innovation
10. Strategic customer management and customer participation
11. Strategic alliances and networks management
12. Strategy implementation
13. Principles of internal marketing
14. Ethics and corporate social responsibility
15. New directions and challenges

Intended Knowledge Outcomes

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

- Understand and apply principle of market-led strategic management.
- Comprehend and utilise different competitive market and internal analyses.
- Identify and apply techniques to identify the current and future competitive positions of a business.
- Employ competitive positioning strategies to create sustainable competitive advantage.
- Comprehend and utilise the principles to compete through creating new marketing mix and/or new products/services.
- Understand and apply principles of strategic customer management.
- Understand and utilise principles of strategic alliances and networks management.
- Comprehend and utilise the principles of strategy implementation and internal marketing.
- Identify the importance of ethics and corporate social responsibility.
- Utilise principles of strategic marketing to develop a marketing plan.

Intended Skill Outcomes

By the end of this module, students should have developed their core skills as follows: critical thinking and problem solving (via exposure to simulated and real world problems); information literacy and written communication (via written exams); interpersonal communication (via class discussions and workshops).

Teaching Rationale And Relationship

This module will be delivered through introducing relevant literature, learning experiences, and industry-linked case studies; so that theory and practice go together. There will be a series of lectures, seminars, and group discussions held throughout the semester. Students are in control of their learning in this module. Each day, there are learning opportunities that you must take advantage of but to be able to do this you must stay up to date. Students are expected to participate actively and positively in the teaching/learning environment.

Assessment Rationale And Relationship

Student progress is measured by a 2000 words Essay, which critically analyse a real-world case study, and a 2000 word Marketing Plan. The essay and marketing plan encourages students to demonstrate their understanding of the subject area, to show the ability to think critically and to construct logical arguments. The skills required to analyse a case study and develop a marketing plan will be introduced and practiced through specific lectures and seminars.

General Notes

N/A