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Aim To develop the student’s knowledge and understanding of 1. The history, philosophy, and concepts of marketing in domestic, international and global settings. The development and possible future direction of marketing as a business philosophy and functional area of management will be examined in a domestic, international, multi-national and global context. Internal marketing, relationship marketing and social marketing will be examined. 2. The micro and macro marketing environment. Students to be able to identify the micro and macro environmental factors such as elements of the political, economic, social, technological and legal environments and the internal company factors, such as structure, organisation and corporate culture, that may impact on a company’s marketing effectiveness. This framework will be developed in the context of a domestic, international, multinational and global context. 3. Principles of analysis, modelling and measurement of the marketing process. The key analytical frameworks and methods of marketing research, consumer behaviour, organisational buying behaviour, forecasting, marketing information systems, market segmentation. targeting, positioning and monitoring procedures will be examined in detail and their application and relevance to the marketing process discussed and explained. International situations and examples will be used to illustrate the application of these principles, models and techniques. 4. Managing the marketing mix - the nature of product and service marketing. In this part of the syllabus students will examine the principles of marketing in both the context of the marketing of goods and services. The concept of an integrated marketing mix and the traditional Mcarthy 4P classification as it relates to products will be covered. The nature of services and the extended and augmented 7’P marketing mix, which includes people, processes and physical evidence as well as the traditional product, price, promotion and place, will be discussed. The individual mix elements will be considered in the context of the construction and execution of a strategic and tactical marketing plan. 5. Product and service policy. Students will examine what is meant by product policy and understand key concepts and models related to product policy including the new product development process, market segmentation, diffusion of innovations, product range, product lines and product mix. Analytical techniques and frameworks relevant to the planning of product and service strategies will be examined. 6. Channel and physical distribution policy business logistics. Students will gain an appreciation of what distribution polices involve in terms of both channels of distribution and physical distribution and understand key concepts and models related to distribution, including channel choice, level of market exposure, selection of channel intermediaries. channel conflict and co-operation, ‘wheel of retailing’, service elasticity and the components of a business logistics system. Distribution is to be considered at the domestic and international / multi-national and global levels. 7. Marketing communications policy - the integrated marketing communications mix. Students will examine what marketing communications policies involve. They will gain an understanding of the main marketing communication mix elements, models of the communications process, the evaluation of communication campaigns and the integrative nature of the communications mix. Internal communication as well as external communications will be examined. 8. Pricing policy. Students will examine what is involved in formulating pricing polices including different approaches to the setting of price, methods used in the setting of price, the price/quality relationship, price as a segmentation variable, price discrimination, particularly differential pricing in relation to international market segmentation, promotional pricing and the communication role of price. Pricing within a consumer and business to business marketing framework will be examined as will the international and global dimensions of pricing policy. 9. Marketing planning, analysis control and implementation. Students will examine the main tasks and concepts associated with strategic marketing, marketing planning and marketing management process. Students will gain an understanding of the nature of corporate planning and where strategic marketing planning and tactical and operational marketing plans fit into the overall planning framework. The structure and content of marketing plans and the main planning tools will be considered. 10. Future developments and the social, environmental and ethical dimensions of marketing. Students will examine the possible future direction of marketing and its increasingly wide application to a number of non-business settings e.g. Charities, public sector organisations such as museums, political marketing and public health programs. Particular attention will be paid to future global, technological, social, environmental and ethical dimensions of marketing as well as future geo-political trends and their implication to the marketing firm e.g. European integration, trading blocks such as NAFTA etc. Programme Content and Objectives: After completing the programme students should be able to: 1. Demonstrate a knowledge of the evolution of the marketing concept, be able to contrast with the production, product and sales oriented business philosophies from which it has evolved. To gain an insight into its likely future development, particularly in relation to global, technological and ethical dimensions. 2. Identify the main tasks and concepts associated with marketing planning and the marketing management process and to be able to formulate, implement, manage, monitor and control marketing policies and plans. 3. Identify the micro and macro environmental factors and the internal company factors, such as structure, organisation and culture, that may impact on company’s marketing effectiveness, in both a domestic and international context. 4. Appreciate that marketing is just as importantly applied within an organisation as it is without, and that ‘internal marketing’ programmes can be effective in helping to create the right corporate ‘spirit’ and ‘culture’ in order to achieve true customer focus and marketing orientation. 5. Appreciate the importance of developing long term relationships with customers and other important individuals and groups in the marketing ‘task environment’, such as intermediaries and suppliers. Formulate effective relationship marketing programs. To appreciate the value of the firm’s existing customer base and the concepts of a portfolio of customers, of ‘data base’ marketing and the active management of a customer portfolio. 6. Gain an appreciation of the approaches to market analysis and measurement. Apply the underlying concepts of marketing research, consumer behaviour, organisational buying behaviour, forecasting, marketing information systems, market segmentation, targeting, positioning and monitoring and control procedures. 7. Define what is meant by product policy and understand key concepts and models related to product policy, including the new product development process, market segmentation, diffusion of innovations, product range, product lines and product mix. 8. Define what distribution polices involve in terms of both channels of distribution and physical distribution and understand key concepts and models related to distribution including channel choice, level of market exposure, selection of channel intermediaries, channel conflict and co-operation, ‘wheel of retailing’, service elasticity and the components of a business logistics system. 9. Define what marketing communications policies involve and understand the main marketing communication mix elements. models of the communications process, the evaluation of communication campaigns and the integrative nature of the communications mix. 10. Describe what is involved in formulating pricing polices, including different approaches to the setting of price, methods used in the setting of price. the price / quality relationship, price as a segmentation variable, price discrimination, promotional pricing and the communication role of price. Method of Assessment: By written examination. The pass mark is 40%. Time allowed 3 hours
The question paper will contain: Eight questions of which four must be answered. All questions carry 25 marks. |
