BB105 - Marketing Principles
Credit Points: 15 credit points
Workload: 36 hours
Aims & Objectives
This is a first-year core unit offered in the Bachelor of Business program. The unit provides a pathway for students to continue on with a major in Accounting, Marketing or Management. For Course Learning Outcomes and further information relating to Bachelor of Business programs please visit our website: http://www.mit.edu.au/study-with-us/programs/bachelor-business.
Organisations are created to develop and offer products and services to the market place. For these organisations to be successful they must be able to effectively communicate what the products and services are and how they will meet the needs of purchasers. To be competitive these organisations must also be able to source the resources necessary to sustain the offering of the products and services with minimal cost and adequate profitability for expansion and future development. All these activities are involved in effective marketing to customers.
The subject material covers the marketing environment in which marketing decisions take place, including the demographic, legal, political, technological, social, cultural, and physical aspects of that environment, which are relevant to those marketing decisions.
The subject also covers the mix of decisions regarding product, price, promotion and distribution policies as well as the identification of marketing opportunities, market research and the analysis of consumer behaviour, the selection of markets, market segmentation, targeting and positioning. In addition, the development of a marketing plan is covered.
Unit topics include:
- Key Marketing Concepts
- Marketing Environment, Social Responsibility and Ethics
- Consumer and Business Behavior
- Segmentation, Target Market and Positioning
- Product and Service Decisions
- Pricing Decisions
- Distribution Decisions
- Planning, Implementing and Evaluating Marketing Strategy
- Group Presentations
- Digital Marketing and Social Networking
- Briefing on Final Exam
The Course learning outcomes applicable to this unit are listed on the Melbourne Institute of Technology’s website: www.mit.edu.au
At the completion of this unit students should be able to:
a. Examine core concepts of marketing and the role of marketing in business and society.
b. Assess appropriate marketing mixes for specific industries.
c. Develop marketing strategies in order to achieve a competitive market advantage.
d. Apply knowledge and skills to real-world experiences through integrated marketing plans.
e. Determine unique marketing mixes and selling propositions for specific product offerings.
|Assessment Task||Due Date||A||B||Unit Learning Outcomes|
|1. Formative Assessment [Individual]||Week 3||5%||-||a-b|
|2. Contribution and participation||Weeks 1-12||-||5%||a-e|
|3. PESTEL Analysis [Individual]||Week 7||10%||-||a-e|
|4. 7P’s Analysis [Group]||Week 10||20%||-||a-e|
|5. Presentation [Group]||Week 10||-||10%||a-e|
|6. Case Study Analysis [Individual] (3 hours)||Date to be notified||-||50%||a-e|
Task Type: Type A: unsupervised, Type B: supervised.
Contribution and Participation (5%)
This unit has class participation as an assessment. The assessment task and marking rubric will follow the Guidelines on Assessing Class Participation (https://www.mit.edu.au/about-us/governance/institute-rules-policies-and-plans/policies-procedures-and-guidelines/Guidelines_on_Assessing_Class_Participation). Further details will be provided in the assessment specification on the type of assessment tasks and the marking rubrics.
NOTE: All School of Business units 3-hour workshops Flipped Classroom Mode.
Textbook and Reference Materials
Note: Students are required to purchase the prescribed text book and have it available each week in class.
Prescribed Text Book
- Pride, W., Ferrel, O., Lukas, B.A., Schembri, S., Niininen, O. & Casidy, R. (2018). Marketing Principles (3rd Asia Pacific Edition), Victoria, Australia: Cengage Learning.
Other recommended references
- Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2013). Marketing (9th edition), NSW, Australia: Pearson Publications.
- Elliott G. (2014). Marketing (3rd edition), Australia: John Willey and Sons.
- Armstrong G., Adam, S., Denize S., Kotler P., (2014). Marketing Management, (6th edition), NSW, Australia: Pearson Publications.
Adopted Reference Style: APA can be found in MIT library referencing
The Referencing style for this using is APA: See the MIT Library Referencing webpage: https://library.mit.edu.au/referencing/APA and the Unit Moodle page for additional referencing support material and weblinks.
MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:
|Ability to communicate||Independent and Lifelong Learning||Ethics||Analytical and Problem Solving||Cultural and Global Awareness||Team work||Specialist knowledge of a field of study|
|Levels of attainment||Extent covered|
|The attribute is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations.|
|The attribute is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations.|
|The attribute is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations.|
|The attribute is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials.|
|The attribute is not considered, there is no theory or practice or activities associated with this attribute.|