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MKT3007 Marketing Strategy

Semester 2, 2012 External Toowoomba
Units : 1
Faculty or Section : Faculty of Business and Law
School or Department : School of Management and Marketing
Version produced : 30 December 2013

Contents on this page

Staffing

Examiner: Rangarirai Chimhundu
Moderator: Michael Mills

Requisites

Pre-requisite: MKT1001 or MKT1002

Other requisites

Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.

Rationale

In addition to being conversant with the concepts and theories associated with the marketing discipline, marketing practitioners must also be able to identify and address marketing strategy and strategic marketing decision making issues which invariably arise in all organisations. These strategy-related issues require skills in marketing problem diagnosis and in identification and evaluation of potential strategic solutions. It is now widely accepted that a strategic perspective is the essential building block for successful marketing practice and this course provides students with a sound theoretical framework for marketing strategy and strategic marketing decision making.

Synopsis

This course is the capstone course for the marketing major and as such builds upon and consolidates previously acquired knowledge of marketing concepts and principles. The course introduces the theory and practice underpinning strategic marketing planning and develops a sound understanding of strategic analysis and marketing strategy alternatives. Students are required to conduct a full marketing audit for a selected organisation and to produce a marketing plan to address a specific organisational marketing strategy related 'problem'. Throughout the course, emphasis is on appropriately using marketing strategy and strategic marketing decision making theory to solve significant marketing problems.

Objectives

On completion of this course students will be able to:

  1. demonstrate an understanding of the key components of marketing strategy
  2. demonstrate research and information literacy, referencing, and critical thinking skills through the ability to conduct a situation analysis that supports the development of marketing strategy
  3. demonstrate problem solving skills through the ability to select and apply the appropriate strategic marketing decision making tools/models and marketing mix elements in the development of marketing strategy
  4. show academic numeracy skills through the ability to integrate basic financial analysis into strategic marketing decision making
  5. demonstrate the ability to develop a marketing plan that addresses not only relevant marketing content, but also ethical, social responsibility and sustainability issues
  6. show an independent grasp of marketing strategy concepts, theories and processes, and the ability to work both independently and as part of a team in the performance of marketing strategy tasks
  7. demonstrate effective written communication skills expected of a marketing professional in both free and controlled settings.

Topics

Description Weighting(%)
1. Overview of marketing strategy and the strategic marketing planning process 8.00
2. Ethics and social responsibility in marketing decision making 8.00
3. Situation analysis: internal environment 8.00
4. Situation analysis: external environment 8.00
5. SWOT/TOWS analysis and the development of marketing goals/objectives 8.00
6. Common strategic marketing decision making tools/models 10.00
7. Product strategy 8.00
8. Pricing strategy 8.00
9. Distribution and supply chain strategy 8.00
10. Integrated marketing communication strategy 8.00
11. Writing/documenting the marketing plan 10.00
12. Implementation and control of the marketing plan 8.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2012&sem=02&subject1=MKT3007)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Ferrell, OC & Hartline, MD 2011, Marketing strategy, 5th edn, South-Western/Cengage Learning, Mason, Ohio.
  • Summers, J & Smith, B 2010, Communication skills handbook, 3rd edn, John Wiley & Sons, Milton, Queensland.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Aaker, DA 2011, Strategic market management, 9th edn, John Wiley & Sons, Hoboken, New Jersey.
  • Cravens, DW & Piercy, NF 2009, Strategic marketing, 9th edn, McGraw-Hill/Irwin, Boston, Massachusetts.
  • Dann, S & Dann, S 2007, Competitive marketing strategy, Pearson Education Australia, Frenchs Forest, New South Wales.
  • Hooley, G, Piercy, NF & Nicolaud, B 2008, Marketing strategy and competitive positioning, 4th edn, Financial Times/Prentice Hall, New York.
  • Reed, PW 2010, Strategic marketing: decision making and planning, 3rd edn, Cengage Learning, South Melbourne, Victoria.

Student workload requirements

Activity Hours
Assignments 70.00
Directed Study 45.00
Examinations 2.00
Private Study 43.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
O/L DISCUSSION FORUM ACTIVITY 5 5 08 Aug 2012
ASST 1 - SITUATION ANALYSIS 100 30 22 Aug 2012
ASST 2 - MARKETING PLAN 100 35 10 Oct 2012
2-HOUR EXAMINATION 60 30 End S2 (see note 1)

NOTES
  1. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date after the timetable has been finalised.

Important assessment information

  1. Attendance requirements:
    If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This is a closed examination. Candidates are allowed to bring only writing and drawing instruments into the examination.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. (i) The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the examiner. (ii) Students must retain a copy of each assignment submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances. (iv) The faculty will normally only accept assessments that have been written, typed or printed on paper based media. (v) The faculty will not accept submission of assignments by facsimile. (vi) Students who do not have regular access to postal services or who are otherwise disadvantaged by these regulations may be given special consideration. They should contact the examiner to negotiate such special arrangements. (vii) In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.

  2. Referencing in assignments: Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.

Other requirements

  1. Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.