For at least half a century by now, the marketing concept with its customer focus has been the predominant management philosophy. The underlying logic of the market-driven strategy is that the customers that form the market should be the starting point in a business strategy. The market-driven strategy provides a company-wide perspective, which mandates more effective integration of all organization’s activities and processes that impact customer value. This course aims to develop an understanding of the marketing strategy and planning based on the analysis of the environment, organization, competition, and customers. Course topics include product portfolio analysis, demand estimates, market boundary, segmentation, competitive analysis, and planning. You will master analytical marketing and leadership skills, reinforce your creativity, develop your skills in collaborative writing and group decision-making through case analysis, presentations, and team projects.
The course will cover the following topics:
- Strategic Marketing in the 21st Century
- marketing concepts
- strategic marketing planning
- market-driven strategies
- corporate/ business/ marketing strategies
- modern requirements
- Marketing Opportunity Analysis
- strategic market segmentation
- customer relationship management (CRM)
- ethics and corporate responsibility
- financial analysis in strategic marketing planning
- marketing research, gathering information
- evaluating demand
- Market-Driven Strategic Planning: Devising Strategies
- identifying market segments and choosing target markets
- the value chain and marketing channels
- innovation strategies
- developing, positioning, and differentiating products, a product lifecycle
- making marketing decisions: market segmentation, product management, marketing channel management, innovation management
- Developing a Customer-Driven Marketing Strategy
- branding and brand equity management
- devising pricing strategies
- developing and managing integrated marketing communications
- the value chain
- Management and Implementation of Marketing Strategies
- building a market-driven organizational structure
- implementing marketing strategies and follow-up.
To succeed in this course, you are required to undertake a study of strategic marketing in an organization of your choice. Your findings will result in a Strategic Marketing Plan (SMP) prepared and suitable for senior managers in the organization. All of the work for the tasks below should be incorporated into one paper. You may attach relevant appendices. Divide the SMP into sections with appropriate headings. Use appropriate referencing and add a bibliography.
Task 1: Choose an organization for your research. Identify a current issue that will influence the organization. Agree the choice of organization and issue with your tutor.
Task 2: Undertake a detailed analysis of the organization’s current strategic marketing using both internal and external environmental analyses and demonstrating how the chosen issue might impact the organization. Explain the organization’s approach to positioning in the marketplace. Explain why you have chosen particular types of analysis and how the internal and external analyses integrate.
Task 3: Discuss the decisions and choices at corporate level that will arise from the strategic marketing analysis you have undertaken. Assess how these decisions will influence marketing at all levels.
Task 4: Make recommendations for marketing strategies that will contribute to the competitive advantage of your chosen organization. These should be based on your research and findings. Justify your choice of strategies.