| CODE | MRK3014 | ||||||||||||||||
| TITLE | Practical Strategic Marketing Management | ||||||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||||||||||
| MQF LEVEL | 6 | ||||||||||||||||
| ECTS CREDITS | 4 | ||||||||||||||||
| DEPARTMENT | Marketing | ||||||||||||||||
| DESCRIPTION | The study-unit presents marketing as a dynamic process that leads to the attainment of a distinct strategic capability in today's global environment. Indeed, the study-unit brings together a range of strategic management concepts intended to illustrate how value-adding marketing activities and decisions lead to construct a global advantage based on synchronized marketing action that prioritizes sustained long-term relationships between the organization and its stakeholders. It is thanks to a simulation based actual market data that students can recognize the value of decisions related to opportunity analysis, brand development, advertising, pricing and sales force management. Study-unit Aims: The study-unit aims to: - explore the process of marketing strategy setting in a context of an ever changing competitive environment; - demonstrate the importance of marketing intelligence and its role in strategic marketing planning; - illustrate the links between marketing strategy and other elements of the organization - organizational structure, organizational culture, organization's core competences; - identify the consequences of these links in implementing marketing strategy: managing change and human resource management, competing in maturing and declining industries, managing portfolios, mergers and acquisitions; - identify the importance of specific areas of marketing strategy decision making in real life situations. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - relate to the importance of strategic marketing; - evaluate an organization's core competencies and weaknesses; - examine and synthesize the goals of marketing strategy; - assess the impact of external environment forces on an organization's marketing decisions; - identify strategic issues impacting on an organization's marketing capability as well as formulate and evaluate alternative approaches to address these issues; - demonstrate an understanding of the Marketing Mix variables, segmentation and positioning strategies, market research tools and marketing as a profit centre; - understand the behaviour of competitors and intra-team dynamics. 2. Skills By the end of the study-unit the student will be able to: - conduct a marketing audit to assess an organization's marketing positioning and potential; - use factual data versus intuition in the strategic marketing process; - analyse data taking into consideration all available data in a given time period; - deal with competition and information overload; synthesize a marketing plan based on the findings of the marketing audit in (a) above intended to respond to the current market and organizational realities as experienced through Markstrat® simulation. Main Text/s and any supplementary readings: Main Texts: - Grant, R.M.(2015) Contemporary Strategy Analysis, 9th edn. John Wiley and Sons. ISBN 978-1119120841. - Johnson, G., Whittington, R., & Scholes, K. (2013). Exploring strategy: Text & cases (10th Edn). Harlow, UK: Pearson Education Ltd. ISBN 978-1292002545. Supplementary readings: - Volberda, H W., Morgan, R.E., Reinmoeller, P, Hitt, M.A., Ireland, R.D. and Hoskisson, R.E. (2011), Strategic Management - Competitiveness and Globalization, South Western. ISBN 978-1408019184. For students to apply course material to current issues and promoting critical evaluation and debate, regular review of the Financial Times is recommended. |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Peter Calleya Joseph Spiteri |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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