24730 Advanced Marketing Management

Faculty of Business: Marketing
Credit points: 6 cp

Subject level: Postgraduate

Result Type: Grade and marks

Requisite(s): 24734 Marketing Management OR 24746 Marketing: Concepts and Applications
These requisites may not apply to students in certain courses.
There are also course requisites for this subject. See access conditions.

Handbook description

This subject develops the ability to apply marketing theory and the principles of decision making to problems in marketing strategy. Organisational resources are finite. The attractiveness of various alternatives for individual decisions within the marketing area is affected by the interaction of all elements of the marketing program. In addition, situational factors (within the company, the industry and the broader environment) affect the attractiveness of alternative marketing solutions. Articles on strategy, case studies and a business simulation which introduces the dynamic nature of market places are extensively used.

Subject objectives/outcomes

On successful completion of this subject, students should be able to:

Be aware of contemporary thinking in Marketing Strategy, particularly with respect to the financial parameters that will persuade senior managers to adopt the strategy recommendations developed by the marketing departments of their firms
Analyse in detail the increasingly dynamic context of marketing activity
Identify, quantify and qualify market opportunities
Understand the nature of the core competencies that a firm has in its possessions, and additional ones that it must acquire by various means in order to provide products and services that are of value to customers
Understand the linkages that bind companies together, as suppliers, intermediaries, customers, and competitors
Understand the theory and application of competitive advantage.

Contribution to graduate profile

Advanced Marketing Management creates the link between the foundation subjects and the specific content areas of the degree/sub-major. This subject provides grounding in the processes of marketing strategy development at both a theoretical level and a practical one. It contributes to the objectives by demonstrating how strategy evolves from the cooperation of individuals in strategic sections of the value chain, in supplying a business with the foundations of competitive advantage. Advanced Marketing Management also provides students with the opportunity to (both) practice and to demonstrate their skills in marketing strategy formulation by participating in a fast-moving, interactive marketing simulation.

Content

Purpose of marketing and how its contribution should be measured
Value Based Marketing
How firms perceive marketing
The paradox of marketing being paramount but market professionals being disregarded
How marketing creates value for shareholders and to provide managers with the practical tools for developing and evaluating marketing strategies.

Assessment

Current Affair (Individual)	20%
Individual Students are required to find a written newspaper/magazine article that matches the lecture/discussion for the week, and be prepared to present and discuss the article in class. The idea is that the article and the discussion should add a practical, real-life perspective to the chapter being considered during a particular week. Students should, in particular, discuss the marketing implications arising out of the article. The presentation should be in Powerpoint. A written paper of not less than 5000 words should also be submitted to substantiate the contribution that is made to providing a practical demonstration from 'real-life' to understanding the Chapter selected for the lecture during a particular week. The paper should be fully referenced according to the Harvard method. This assessment enables students to demonstrate objectives 1-6.
Markstrat Simulation (Group)	30%
Groups will be assigned to work as a company over nine (9) decision periods in the Markstrat Simulation. A maximum of six groups will compete in the Markstrat stimulation over the course of the semester. Each group will present an analysis of their strategies and results in week 14 of the semester, with emphasis on what they have learned with respect to the formulation of marketing strategy, albeit in a simulated environment. This assessment enables students to demonstrate objectives 1-6.
Final Examination (Individual)	50%
The final examination challenges the student to find a 'real-life' company whose marketing strategies are to be examined by reference to published sources in the media, and by reference authoritative sites on the Internet. A principal measure of understanding is the requirement of the students to demonstrate their ability to integrate the knowledge of theory gained during the preceding weeks of the semester in the contents of the written paper, and to express this knowledge in a succinct and well written form. The written paper should consist of not less than 10,000 words and show evidence of wide reading. The paper should be fully referenced using the Harvard method. This assessment enables students to demonstrate objectives 1-6.

Recommended text(s)

Gregory Whitwell, Bryan A.Lukas, Peter Doyle, Marketing Management: A Strategic Value-Based Approach, John Wiley and Sons (2003)

Lerreche, Jean-Claude and Hubert Gatignon, (1998) Markstrat 3, The Strategic Marketing Simulation, International Thomson Publishing Company.