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MKT11108 Principles and Practice of Marketing
Dr Mavis Gutu, Dr Alessandro Feri, Prof. Anna Watson Dr Elaine Prof. Christof Backhaus
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Welcome:
Principles and Practice of Marketing
Dr Mavis Gutu (Module Leader) M.Gutu@napier.ac.uk Dr Alessandro Feri A.Feri@napier.ac.uk Prof. Anna Watson A.Watson@napier.ac.uk
Dr Elaine Thomson Prof. Christof Backhus
Module Guide available on Moodle
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What will you learn?
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Aim: To enable you to develop awareness, knowledge and understanding of fundamental marketing theory and practice.
— LO1 Identify, understand and critique the role and function of marketing within both “for-profit” and “not-for-profit” organisations
— L02 Comprehensively and critically examine key marketing concepts, models,
and processes.
— LO3 Analyse internal and external marketing problems, using the cognitive skills of critical thinking and synthesis, within macro- and - micro organisational environments
— LO4 Evaluate and apply relevant and appropriate marketing theory and analytical and conceptual frameworks to different marketing contexts
— LO5 Generate and select alternative solutions to identified marketing problems using effective problem solving and decision making skills
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Theory and Practice
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¦ This module will critically analyse the overall principles of marketing management and help you learn how to apply this theory in practice.
¦ This module is about thinking about marketing in its entirety, rather than an examination of one or other of its different components.
What will the lectures cover?
¦ Environment, segmentation, positioning
¦ Objective setting and strategy
¦ The creation of value (brands, pricing, communications, services, experiences)
¦ Sustainability
¦ Evaluating success: Resources, implementation, measurement and control
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Lecture schedule
Tri Week Marketing Concept and Planning Lecturer
Week 1 Induction Week (no classes)
Week 2 Module and Assessment Information - Introduction to Marketing Mavis
Week 3 The Marketing Environment Mavis
Week 4 Strategy and Planning Alessandro
Week 5 Products and Brands Alessandro
Week 6 Marketing Communications (on-line and off-line) Alessandro
Week 7 Services Marketing: Relationships and Experiences Anna
Week 8 Distribution Channels and Pricing Strategies Anna
Week 9 Dimensions of Sustainability Anna
Week 10 Defining and Measuring Marketing Performance Anna
Week 11 Revision and Assessment Formative Feedback Mavis
Week 12 Easter break
Week 13 Easter break
Week 14 Assessment Submission (online) - Wednesday 21st April by 12 noon
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The Assessment
• A 3,000 word (max) single-authored report (worth 100%). Assessments that exceed the 3,000 word limit will be capped at P1.
The brief:
Acting as a Marketing Consultant:
Launch a product or service of your choice onto the UK market in 2020/21 or 2021/22 and sustain it for 12 months. You could also select a company from the list below and launch a new product or service:
• Aramark, Boeing, Caterpillar, DuPont, Emirates, General Electric, ICICI Bank, L’Oreal, Nairn’s Oatcakes Ltd, PayPal, Reliance Industries Ltd, Tyson Foods, Tata Consultancy Services, United Health Group; Verizon Communications, Walt Disney, Waste Management Inc.
You must not choose a product or service that is already on the market, UNLESS you are planning a substantial repositioning and rebranding of that product or service. Consider one of the following:
- a particular product or service
- a product or service range
- an event
- another aspect which requires communication to a user / customer
Students are expected to discuss all elements of the marketing or services mix.
In business it is important to be concise, and relevant. The word count of this report will help you develop these skills.
The assessment should be submitted via Turnitin in week 14 (Wed 21st April, 12 noon).
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The Assessment
¦
/“The report should have three (3) parts.
Part 1: Analysis of the Market & Objectives
Analyse the current market (competitors, environment - internal/micro, external / macro)
¦ Identify objectives (corporate and marketing) / key performance indicators
/ P Part 2: Strategy, Target and Tactics/Actions
/l_ ¦ Set a strategy
Define target market
Identify tactics (marketing mix)
¦
¦ Identify tactics (marketing mix)
/I !_¦ Address sustainability issues
/I 1/ l_Part 3: Measurement and control
What resources are required?
How will strategy be implemented?
How will success be measured?
¦
¦
¦
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The Assessment
¦ Be detailed and specific.
¦ Apply theory
¦ Explain and justify your choices
¦ Include the following:
¦ An analysis of the internal and external environment
¦ Your targeting strategy
¦ SMART objectives
¦ A discussion of the relevant aspects of the marketing/services mix
¦ Definition of relevant and justified controls and measurements (Key Performance Indications and Critical Success Factors).
¦ Analysis of issues of sustainability and how these might be addressed
¦ A timeline for the campaign period and budget breakdown of expenditure.
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The Assessment
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///I Marking criteria:
¦ Situation Analysis and Objectives (30%) (Internal and external marketing environment, Objective setting )
¦ Strategy, Target, Tactics/actions (50%) (Proposal and justification ofrarget market, strategic planning, tactical implementation (marketing /services mix))
¦ Measurement and Controls (10%) (Proposals for project management and measurement of campaign)
¦ Referencing and Presentation of Report (10%) (Sourcing and using appropriate material. Using appropriate referencing and
. ( ( 1J I I I ( I I I
citation conventions.)
¦ Theory should be applied throughout.
¦ Issues of sustainability should be addressed where necessary
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Books?
PRINCIPLES AND PRACTICE OF MARKETING
David Jobber and Fiona Ellis-Chadwick
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Purchase your core textbook with a 20% discount and free delivery
• Your core text is Principles & Practice of Marketing by Jobber 9e and is available in print or e book
• To purchase your own copy with 20% discount, please click on the following link
¦ https://www.mheducation.co.uk/principles-and-practice-of-marketing-9e-9781526847232-emea-group
• Add the PRINT OR E BOOK TO THE CART
• Insert the Promo code MGH20UK6 where it states APPLY DISCOUNT CODE for the 20% discount to make the final cost £43.99 FOR PRINT & £31.33 FOR E BOOK
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Quick quiz:
l.How long is your assessment for Principles and Practices of Marketing?
a. 2,500
b. 3,000
c. 4,000
d. 2,500 +/-10%
2.When and where do you submit your assessment?
a. Wednesday 21st April 2021 via Turnitin on Moodle
b. Friday 16th April via Panopto
c. Thursday 22nd April. Take it to the I-point
d. Monday 26th April. Leave it on the bedroom floor and hope someone finds it.
More quiz
a VW2
b
a
c
a
d
WTF
a
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RE1/DE1
QVC4
d. Kim Kardashian
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4. Who said: “creativity is intelligence having fun
| a. Steve Jobs
b. Hedy Lamarr
C/c. Albert Einstein UlBrJLc JH
3.If you need an extension, which form should you look for on My Napier? a
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More quiz
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5.The first Instagram photo featured what animal?
a. 2004
b. 2005
c. 2006
d. 2007
a. A dog
b. A parrot
c. A cat
d. A shark
6.In what year was the first tweet
Final quiz
7. How many of these social influencers can you name?
¦¦
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Contemporary opinion: Lou Stoppard, ‘Influencers lose their gloss,’ Financial Times May 28th 2020
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Interesting on-line industry publications
¦ https://www.thedrum.com/
¦ https://www.marketingweek.com/
¦ https://www.ama.org/
¦ https://www.socialmarketinggateway.co.uk/
¦ https://www.thedrum.com/topics/award-winning-case-studies
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__What is marketing?
It is about creating value that meets customers expectations in order to retain them.
-/• 4P’s: product, price, place, promotion (people, physical evidence, processes)
Relationships, value creation, co-creation.
It is at the heart of all successful businesses
The most dynamic of all business functions
Aims at creating value
Long term satisfaction means loyal customers
Marketing can be described as the study and management of exchange relations
/| • “The aim of marketing is ... to attract and retain customers at a profit.” (Drucker, 1999)
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Success?
• Commercial - profit
• Not-for-profit - behaviour change (social marketing)
• Charities - donations, volunteers
What you learn on this module should be applicable to business and not-for-profit / charitable organisations.
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Cabrita, M. D., & Cabrita, M. (2014). Applying Social Marketing to Healthcare: Challenges and Opportunities. In Kapoor, A., & Kulshrestha, C. (Ed.), Dynamics of Competitive Advantage and Consumer Perception in Social Marketing (pp. 78-97).
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Customers / competition
• Existing customers vs new customers
• 6 x cheaper to retain existing customers than to find and retain
new ones
• Relationship building is essential, and is more important than transaction-based exchanges (Seth and Parvartiyar, 1995)
• Almost all markets, whether for consumer products, B2B or not-for-profit and subject to competition
— What do your customers want?
— What do your competitors provide?
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Dynamic marketing
Digital marketing has transformed the marketplace
• Market research
• Marketing communications
• Distribution
Marketing as an exchange
• The key to understanding marketing is the focus on the customer, and on the competition.
• “the marketing concept can be expressed as the achievement of corporate goals through meeting and exceeding customer needs and expectations better than the competition.”(Jobber and Ellis-Chadwick, 2020: 6)
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Value, satisfaction, loyalty
Customer value
• Customer value = perceived benefits - perceived sacrifice / risk Customer Satisfaction
• Meet and exceed customer expectations better then the competition
• Satisfaction depends on perceived performance vs buyer expectations
• Exceeded expectations, delight by over-delivering
Customer loyalty
• Convenience, quality of service / product, social interaction, price.
Long term customer relationships
• Social media to understand and engage customer.
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TASK
Everyday marketing: social media and loyalty creation
Take a look at your social media profile.
How many social media platforms do you use?
Do you follow any brands / organisations?
Pick a brand / organisation that you follow.
Take five minutes to consider how they use social media to encourage your loyalty.
• Describe what they do (give examples)
• Explain how what they do encourages loyalty.
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TASK
Managing complaints at the Glenbogle Hotel
You are the marketing intern for the Glenbogle Hotel. On the hotel’s Twitter account, @happytourist (who has over 15k followers) has written the following: Terrible short break at @GlenbogleHotel this weekend. Cold room, cold food. Waited forty minutes to be served at the bar. Staff walked straight past me! Highland hospitality? I dont think so!
• Tweet your response to @HappyTourist
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TASK
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Communicating with your customers on social media
Exclusive Edinburgh fish restaurant ‘Skippers’ need to tell customers that they have a new menu using Scottish produce and are open for business, with COVID19 social distancing measures in place. How would you use Twitter, Instagram and Facebook to encourage people to come to Skippers?
• Write out a tweet / FB post for Skippers.
OR
On-line skateboard shop ‘Sharksk8’ have struggled during the COVID19 lockdown. They have ordered in a load of new gear and hope to take advantage of the easing of restrictions to make some money.
• Write a tweet / FB / Insta post aimed to help Sharksk8 shift their stock.
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TASK
Thinking about marketing: reflecting on your own experiences
• Identify TWO examples of organisations that you consider provide customer value, and describe how they do it.
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TASK
Thinking about both sides of the argument.
Marketing assists in the creation of value, but is it also responsible for many of society’s current problems?
• Set out three arguments celebrating the role of marketing (the good things)
• . . . and three arguments questioning marketing’s role in society (the bad
things).
Rather than speaking in abstract terms, illustrate your answers with examples.
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Coming next...
Environment: the big picture
• Marketing audit: PESTEL, Competitors, SWOT
Strategy: where are we going, why, and how fast?
• Objective setting
Tactics
• Product / service mix
• Communications, distribution, pricing.
Ethical considerations
• Sustainability?
Implementation
• Evaluation
• Measurement
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References
• John Fahy and David Jobber (2019), Foundations of Marketing, 6th Edition (London, McGraw-Hill)
• David Jobber and Fiona Elis-Chadwick (2020), Principles and Practices of Marketing, 9th Edition (London’ McGraw-Hill)
• Peter Drucker, The Practice of Management (1999), (London, Heineman)
• J.N.Sheth and A. Parvatiyar (1995), ‘The evolution of relationship, International Business Review, 4(4), 397-418
• L. Quinn, et al (2016), ‘Troubled waters: the transformation of marketing in a digital world,’ European Journal of Marketing, 50(12): 2103-2133
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