1. Week 1 Lecture Introduction to module
Marketing (MC5058)
Week 1 Lecture
Introduction to module

2. Agenda Module introduction
Recap from the module ‘Introduction to Marketing’

3. Module description
Understanding of the component of the marketing system
Provides a body of knowledge required for marketing decision making, based on both the marketing mix and contemporary approaches
Provides a vehicle for developing student’s understanding of the relevance of Marketing to issues of career and professional development

4. Module aim
Build on the knowledge base acquired in the earlier foundation module (Introduction to Marketing)
Demonstrate the role of marketing as a key business function
Provide an understanding of the marketing system represented by the Marketing Mix
Allow the student to comprehend the marketing decision making process
To develop students’ understanding of the relevance of Marketing to issues of career and professional development

5. Syllabus Introduction to the Marketing Mix
The product concept, branding and the product lifestyle
New product development
Pricing
Marketing communications
Distribution
Introduction to Services marketing
Personal development and career planning

6. Text book
D. Adcock et al, (2001) Marketing Principles and Practice, Prentice Hall
M. J. Baker, (1996) Marketing. An Introductory Text, MacMillan
F. Brassington, (2003) Principles of Marketing, Prentice Hall
D. Jobber, (2003) Principles and Practices in Marketing, McGraw Hill
G. Lancaster et al, (2003) Essentials of Marketing, McGraw Hill
G. Oliver, (1995) Marketing Today, Prentice Hall

7. Learning and teaching hours
Scheduled learning and teaching activities
45 hours
Guided independent study
105 hours
Total learning hours for the module
150 hours

8. Assessment strategy
The marketing component involves students demonstrating their cognitive skills in appreciating the relationship and dependence of each element of the Marketing Mix.
Those key aims will be assessed by an analysis of a marketing case study, which will demonstrate the students understanding of issues developed in the module.
The unseen examination will demonstrate the students overall grasp of the module curriculum.
A personal development portfolio will be used to assess students’ record of self-reflection and career analysis and aspirations.

9. Assessments Assessment Method Description of Item % weighting Week Due
Coursework
Case study (1500 words)
25% 7
Personal Development Portfolio (500 words)
15% 9
Written Exam
Unseen exam
60%
14, 15

10. Assessment 1
Read the Case Study: A-maize-ing Retail Marketing-Mix Test.
It is not expected that you would understand the statistical tests that were carried out but it is important that you understand the role of the marketing mix in promoting products.
Answer the following question in 1500 words, relating it to the case-study.
Write a report explaining the importance of the marketing mix when increasing sales of products. Use theories and examples from the case-study.

11. Assessment 2 Personal Development Portfolio – 500 words
Examine the role of the marketing department and write a brief commentary of a role that you would aspire to. Think about what you would need to do to gain the relevant skills to apply for such a role.

12. Assessment 3
The unseen examination will demonstrate the students overall grasp of the module curriculum. A personal development portfolio will be used to assess students’ record of self- reflection and career analysis and aspirations.

13. Weekly lecture topics 7 Case study- Assignment 1 9
Module introduction 2
Introduction to marketing mix 3
The product concept, branding and the product lifestyle 4
New product development 5
Pricing 6
Marketing communications 7
Case study- Assignment 1 8
Distribution 9
Personal Development Portfolio- 500 words 10
Introduction to services marketing 11
Personal development and career planning 12
Personal revision
13-15
Examination

14. Recap from the module ‘Introduction to Marketing’
What is marketing?
What are the elements of the marketing mix?
Examine the importance of the elements of the marking mix.

15. Selling products to customer
What comes into mind when you heard the word marketing heard the word ‘marketing’?
Marketing research
Products and services
Sale promotion
Target market
advertisement
Selling products to customer

16. What is marketing?
Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships on ways that benefit the organization and its stakeholders.

17. Marketing functions
Marketing activities can be organized into seven functions. Each function occurs every time a product or service is developed and sold.

18. Marketing functions
Product and service management is designing, developing, maintaining, improving and acquiring products and services that meet consumer needs.
Distribution involves determining the best ways for customers to locate, obtain and use the products and services of an organization including shipping, handing and storing of products.
Selling is communicating directly with potential customers to determine and satisfy their needs. It can be face-to-face, via telephone, via internet, etc.
Marketing-information management is obtaining, managing and using market information to improve business decision-making and the performance of marketing activities. E.g. marketing research and the development of database.

19. Marketing functions
Financial analysis is budgeting for marketing activities, obtaining the necessary funds needed for operations and providing financial assistance to customers so they can purchase products and services.
Pricing is setting and communicating the value of products and services. Customers must be able to easily identify the price of items that interest them or they will move on to another choice.
Promotion is communicating information about products and services to potential customers. Advertising and other promotional methods are used to encourage consumers to buy.

20. What is marketing strategy?
Marketing strategy is a company’s plan that identifies how it will use marketing to achieve its goals.
Marketing is aimed at satisfying customer needs better than competitors do.

21. Marketing strategy
Developing marketing strategy is a two-step process.
(1) Selection and analysis of a target market
(2) Creation and maintenance of an appropriate marketing mix, a combination of product, price, distribution and promotion developed to satisfy a particular target market

22. Identify a target market
Target market is a specific group of consumers who have similar wants and needs.
Focusing on a target market makes it easier to develop products and services that specific groups of customers want.

23. Identify a target market
In selecting a target market, marketing managers . . .
(1) Examine potential market for their possible effects on the firm’s sales, costs and profits.
(2) Determine whether the firm has the resources to produce a marketing mix that meets the needs of a particular target market.
(3) Analyze the strengths and numbers of competitors already marketing to people in this target market

24. Identify a target market
Target market example – Nissan Cube
Nissan Cube is targeted to attract the teens and early 20s with features of an interface system for the iPod, upgraded Rockford Fosgate subwoofer, smaller cup holders for energy drinks and options to add more than 40 accessories.
The price point for the Cube starts at just under $US 14,000.

25. Identify a target market
Target market example – Rolls-Royce
Rolls-Royce targets its automobiles toward a small, very exclusive market: wealthy people who wants the ultimate in prestige in an automobile.

26. Identify a target market
When selecting a target market, marketing managers generally take either one of these two approaches.
1. Undifferentiated approach: a company designs a single marketing mix and directs it at the entire market for a particular product.
This approach assumes that individual customers in the target market for a specific kind of product have similar needs and that the organization there can satisfy most customers with a single marketing mix.
Products that can be marketed successfully with this approach include staple food items, such as sugar and salt and certain kinds of farm produce.

27. Identify a target market
2. Market segmentation approach: a company designs multiple marketing mixes and to serve different market segments.
Market segment is a group of individuals or organizations within the market that shares one or more common characteristics. The process of dividing a market into segments is called market segmentation.
For example, Thai airways launch “Nok air”, a low-cost airline for budgeted travellers. Marketing mix used for Nok air is totally different from the one applied for Thai airways customers.

28. Identify a target market
2. Market segmentation approach:
Examples of market segmentation approach
An airlines company opens new low-cost airlines under different brand to serve budgeted travelers.
An automobile company launches different types of car for different groups of customers e.g. sport, luxury, family, economy, etc.
A cosmetic company launches cosmetic product line for MEN e.g. Men deodorant, Men facial cream, etc.

29. Identify a target market
Market segmentation can be done through different criteria
Demographic
Psychographic
Geographic
Behaviouristic
Age
Personality
Region
Volume usage
Gender
Motives
Urban, rural
End use
Race
Lifestyles
Market density
Brand loyalty
Ethnicity
Climate
Price sensitivity
Income
Terrain
Education
City size
Occupation
Country size
Family size
State size
Religion
Social class

30. Create a marketing mix
A marketing mix is the blending of four marketing elements – product, place, price and promotion; also known as 4Ps.
A successful marketing mix satisfies the wants and needs of the target market.

31. Create a marketing mix

32. Create a marketing mix
The product ingredient of the marketing mix includes decisions about the product’s design, brand name, packaging, warranties and the like.
The pricing ingredient is concerned with both base prices and discounts of various kinds. Pricing decisions are intended to achieve particular goals such as to maximize profit or even to make room for new models.
The distribution ingredient involves not only transportation and storage but also the selection of intermediaries. Overall process of how the product is delivered to the customers.
The promotion ingredient focuses on providing information to target markets. The major forms of promotion are advertising, personal selling and sales promotion.

33. Create a marketing mix - Example
Place
Product
Price
Promotion

34. Service is a special category of product
Services are activities that are consumed at the same time they are produced e.g. banking services, hairdressing, hospitality, etc.

35. Characteristics of Services
Service are intangible.
have no physical form
marketing mixes need to be adjusted to apply for each specific services
Service are inseparable.
they are consumed at the same time they are produced.
Production and personnel must be ready at the time customers want it.
Service are perishable.
the availability of a service must match the demand for that service at a specific time.
E.g. if all seats at the concert are filled, no more people will be able to hear the singings.
Service are heterogeneous.
there will be differences in the type and quality of service provided.
As it produced at the time it consumed; control over quality is more difficult than a product.

36. Pricing factors Supply and demand Uniqueness Age Season Complexity
Convenience