BK306 - Strategic Marketing
Credit Points: 15 credit points
Workload: 36 hours
Prerequisite: BK210 Market Research
Aims & Objectives
This is a third-year Core Unit in the Bachelor of Business major in Marketing, and offered as an elective unit in the Bachelor of Business major in 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.
Strategic marketing is embedded within the field of marketing, but has a distinct focus on planning for the future– to be truly successful in today’s fast-paced business environment marketers must have a view to the future and develop appropriate strategies to take advantage of the dynamics predicated by this future. Strategic marketing’s crucial role in business performance is demonstrated in the market driven strategies of successful organizations competing in a wide variety of industries and markets. The increasing importance of superior customer value, leveraging distinctive capabilities, responding rapidly to diversity and change in the marketplace, creating new products, and recognizing global business challenges require effective marketing strategies for gaining and sustaining a competitive advantage. This subject explores the essential concepts and processes within this fascinating field of marketing.
Unit topics include:
- Marketing in today’s economy
- Strategic Marketing Planning
- Collecting and Analysing Marketing Information
- Developing Competitive Advantage and Strategic Focus
- Customers, Segmentation and Target marketing
- The Marketing Program
- Branding and Positioning
- Ethics and Social Responsibility in Marketing Strategy
- Marketing Implementation and Control
- Developing and Maintaining Long- term Customer Relationships
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. Analyse the key principles of strategic marketing in contemporary business environment.
b. Review problems in relation to strategic marketing and be aware of strategies to investigate them.
c. Evaluate strategic tools, concepts and theories and understand the complexities associated with the application of these in marketing practice.
d. Apply marketing theory in business settings and broader social contexts with intellectual curiosity.
e. Devise a complete strategic marketing plan by applying key learning to a company’s strategic (marketing) efforts through detailed exploration.
|Assessment Task||Due Date||A||B||Unit Learning Outcomes|
|1. Formative Assessment||Week 2||-||-||a,b|
|2. Contribution and participation||Weeks 1-12||-||10%||a-e|
|3. Strategic Marketing Draft [Group]||Week 8||10%||-||a-e|
|4. Strategic Marketing Report [Group]||Week 8||20%||-||a-e|
|5. Strategic Marketing Report Presentation [Group]||Week 8||-||10%||a-e|
|6. Case Study Analysis [Individual] (3 hours)||TBA||-||50%||a-e|
Task Type: Type A: unsupervised, Type B: supervised.
Contribution and Participation (10%)
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
- Ferrell, O. & Hartline, M. (2014). Marketing Strategy (6thed.). Australia: Cengage Learning.
Other recommended references
- McDonald, M. & Wilson, H. (2016). Marketing Plans: How to prepare them, how to profit from them (8thed.). USA: Wiley Publications.
- Reed, P. (2015). Strategic Marketing: Decision Making and Planning (4thed.). Australia: Cengage Learning Australia.
- Kotler, B., Deans, B. & Armstrong, L. (2013) Marketing (9thed.). Australia: Pearson.
Adopted Reference Style: APA can be found in MIT library referencing.
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.|