As a core course for the Marketing and Business Administration majors and  the University of Wales validate programs, this course is designed to give the student a broad appreciation of the fundamentals of the strategic marketing planning process including: methods and tools of market assessment, customer segmentation analysis, development of the value proposition, and planning of marketing tactics designed to deliver value to targeted stakeholders. Emphasis is placed on the need to align marketing principles and theories with the management skills needed for the preparation of a marketing plan. The student may expect to spend a significant amount of time in reading course materials, developing skills in applying marketing tools and models, to analyze and discuss case studies and marketing data. A computerize market simulation is used to help students learn to choose and apply market research to formulate market propositions and to use financial tools to assess market results over time. The simulation require students to scan markets for changes in market demand and to strive to create strong value propositions that produce sustainable, competitive stakeholder value.

Fostering a sustainable environment (one committed to delivering value for both buyers and sellers over the long term), is an important goal for this course is based on the student’s ability to apply the Marketing Concept philosophy, one which is built on effective intelligence gathering which is used identify and evaluate gaps: key opportunities and threat present in both the macro and micro business environments. In this course, the student will begin to learn how to implement market and competitive audits, analyze environmental trend, forecast changing market demand and develop competitive marketing strategies.

This course requires both understanding of (knowledge and insight), as well as the ability to apply (skill) marketing principles to improve managerial decision making. Students should find this course both stimulating and challenging. Throughout this course, students will be required to develop and improve their ability to organize and plan work both on an individual as well as a team basis. Success of class discussions, written work (including exam papers) and oral presentations, depend on strong persuasive argumentation. Students needing assistance in organizing their arguments (quantitatively and qualitatively) are invited to make good use of the University’s writing and math labs.

Constructive class participation is expected. Unconstructive participation will be discouraged.

The basic purpose of this course is to provide students with a basic understanding of marketing concepts, marketing strategy and the marketing process. Specifically these are:

1. Develop a framework for market-led thinking.

2. Develop an understanding of a firm’s motivations and options for market-led expansion

3. Develop ability to use Market Audits, Consumer learning models, and Product –life cycle theories, to analyze the micro and macro environments in which firms compete in order to identify demand problems and opportunities that a firms should take into consideration when developing strategies that enable it to effectively adapt to change.

4. Explore acquisition and sources of market information, both public and proprietary, and use them to evaluate market potential and the delivered added value of market offers.

5. Through a marketing computer simulation students will have a hands-on experience using marketing tools to understand the need to adapt marketing strategy and tactics to achieve marketing objectives. Students gain knowledge about the new product development process, market segmentation and targeting and related adjustments to product, place, price and promotion variables to achieve their positioning strategy. Success in delivering value to both the firm and its target markets is measured by Return on Marketing Investments ROMI.

6. Develop both written and oral informative and persuasive communication skills through article presentations, case analysis and discussion and competitive presentation of marketing plans.

7. Develop critical thinking and decision making skills through competing in a computer simulated market simulation.

8. Develop and improve cratvitity, planning, organizing, problem solving, and team skills.

The orientation of this course is twofold:

I. It is descriptive in that it is designed to provide the student with a basic grounding in as well as aworking knowledge of the language and major theories of marketing. Such knowledge of what managers need to do to achieve organizational goals and growth objectives in competitive European markets is a fundamental prerequisite for future managers.

II. It is applications - oriented in that it provides the student with the opportunity to gain practical experience. The student will develop marketing skills by applying marketing tools and tactics in:

A. Analyzing and solving “real” marketing problems as presented in case studies.

B. Managing their “own” company and developing their own competitive marketing strategy for a company and by experiencing market reactions to their decisions in The Marketing Game simulation.

C. Carry out secondary and primary reseach and then apply it to developing and defending marketing plan.

1. Demonstrate an understanding of basic marketing concepts and theories and how they may be applied to business environments.

2. Demonstrate awareness of qualitative marketing research techniques and be able to assess their suitability for exploring and defining research problems facing marketers.

3. Through a computer simulation, demonstrate ability to manage a budget, evaluate and select profitable long-term target markets, develop a profitable pricing strategy and effectively differentiate and position the marketing mix and achieve a minimum target ROMI of 1.0.

4. Demonstrate familiarity with the design elements of the marketing offer and the role and effect such Buyer Readiness, Stage of Product Life Cycle, Cultural Values, and Type of Adopter have on each element’s ability to synergistically deliver more value then competitors to target buyers while achieving marketing objectives of a specified firm.

5. Demonstrate the ability to write a realistic, coherent market assessment and develop a plan for a target market for a given case study.

6. Prepared to listen, prepared to share ideas, prepared to accept criticism and to act on it, prepared to help others in the team - even if it is not their immediate role, and prepared to accept others, to question, be questioned and to be persuaded by different views, opinions and ideas.

To achieve top marks in this course whether on exams or written work, please be sure to:

Directly address and discuss the issue, model or problem being raised.

Present arguments in a coherent manner demonstrating knowledge of the relevant information, methods of analysis and expressed using appropriate marketing terms.

Where appropriate, critically evaluate concepts and theory and provide supporting examples from exercises, cases, or research conducted in the course.

Be accurate, pay attention to details,

Add value, do not simply repeat what is covered in the lectures or text, and add your own arguments and thoughts.

Demonstrate evidence of reading or research beyond that required for the course.

Assessment Guidelines for assigning main letter grades: A, B, C,D, and F.

A:  Work of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.

B:  This is highly competent level of performance and directly addresses the question or problem raised.

There is a demonstration of some ability to critically evaluate theory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.

C:  This is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.

D:  This level of performances demonstrates that the student lacks a coherent grasp of the material.

Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.

F: This work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

Major Topics and Exercises Cover in 22 sessions

Week 1
Markets, Demand, Value Propositions and Delivered Value
Marketing Strategy
Text Chapters 1-4
Exercises 1,2,3, 4

Week 2
Consumer Markets
Buyer Adoption Process, Market Segmentation Targeting and Positioning
Text Chapters 5,7-10
Exercises 5, 6,7 8
TMG Text
Computer Simulation

Week 3
Differentiation
Competitive Assessment, Benchmarking, Gap Assessment
Text Chapters 11- 14
Computer Simulation
Review
Midterm Exam

Weeks 4
Marketing Mix (tactics)
Text Chapters 15-19
Computer Simulation

Week 5
Marketing Plan Reports and Presentations
Review
Final Exam