BBSD551 – Marketing Fundamentals

Module code

BBSD551

Module title

Marketing Fundamentals

Prescription

The purpose of this module is to introduce the student to the field of marketing, including the functional, social and managerial dimensions of marketing.

Programmes

BM0701
BS0671
BS1054
BS1064
OS9602
SP1006

NZQA Level

Level 5

NZQA Credits

Delivery method

Web-Supported

Learning hours

Total learning hours: 150

Resources required

Learning Outcomes: 1. Understand the principles of Marketing Fundamentals:
- Demonstrate the ability to analyse the marketing environment and evaluate the opportunities offered
- Demonstrate the ability to present concepts of marketing, including the functional, social and managerial dimensions
- Demonstrate the ability to present orally and in writing, the components of the marketing mix across a wide range of market types

2. Introduce marketing and discuss its role in economic development:
- The importance of marketing
- Define macro and micro-marketing
- Discuss the role of marketing in economic development
- Explain marketing functions

3. Describe principals of the marketing concept and their effect on an organisation:
- Describe the role of marketing
- Explain the evolution of marketing including societal/ethical issues
- Define the marketing concept
- Elaborate the importance of marketing strategy planning
- Describe how to develop a marketing plan by gathering appropriate marketing information as a basis for segmentating the market and positioning products within that market

4. Analyse the marketing environments and evaluate the opportunities offered:
- Identify the types of marketing opportunities to pursue.
- Evaluate opportunities
- Discuss the various marketing environments and their relevance to marketers

5. Describe the components of a Marketing Information Systems, why they are needed and they how are used:
- Outline the importance of Marketing Research, and the Marketing Information systems
- Describe the appropriate procedures in a marketing research investigation
- Distinguish between Quantitative research and primary and secondary data

6. Define the concepts of differentiation, segmentation, targeting and positioning:
- Contrast product differentiation and segmentation
- Examine the approaches of segmentation
- Describe the bases for segmentation
- Demonstrate the use of positioning

7. Explain why marketers need an understanding of buyer behaviour:
- Discuss the process of buyer decision
- Distinguish between consumer and organisational buying decisions
- Elaborate on the main influences on consumer behaviour
- Identify the organisational buying practices
- Introduce Relationship Marketing

8. Elaborate on elements of the marketing mix:
Product:
- Define Product
- Discuss the 'components' and classifications' of a product
- Describe the New Product Development Process
- Explain the concept of product mix
- Introduce the concepts of branding, brand strategies and the role of packaging
- Explain the product life cycle and the different marketing mix strategies
- Ethical issues related to new product development
Place:
- Discuss the processes involved from point of production to final consumer
- Understand the various distribution channels
- Evaluate how to create and maintain successful supplier, retailer and wholesaler relationships
- Role of wholesalers and types of intermediaries
- Explain chain of supply
Price:
- Explain the importance of objectives for price strategic planning. Discuss factors influencing final price
- Outline different pricing strategies and evaluate their uses
- Identify and explain the fundamentals of price determination methods

Promotion:
- Introduce the elements of the promotional mix
- Briefly evaluate which methods are best suited to particular situations
- Awareness of promotional ethical issues
Process and People:
- Elaborate on the importance of personal selling and customer service

9. Discuss marketing planning and understanding the target market:
- Explain the relevance and approaches to forecasting
- Discuss the role of planning for involvement in international marketing
- Elaborate on information for better implementation and control
Assessment Criteria: Candidates must achieve a minimum result of 40 in the final examination or nominated assessment/s of each module. They must also achieve a minimum C grade pass overall from all assessments to receive a passing grade for the module.
Recommended Readings: Kotler P, Adam S, Denize S and Armstrong G.
Principles of Marketing, 4th Edition, Prentice Hall
Content: The marketing function, consumer behaviour, market segmentation, gathering of marketing information, marketing information systems, marketing research, marketing strategy and planning, the elements of the marketing mix (product, price, promotion and distribution decisions), the marketing audit process, industrial marketing, service marketing, international marketing, marketing in non-profit organisations.
Teaching and Learning Strategy: Teaching methods will involve theoretical and practical classes including lectures, tutorials, workshops, group activities and assignments that are relevant to students’ industry / technology focus.