Learning Objectives
5 objectives- Understand the fundamental concepts and principles of marketing management and their significance in business.
- Analyze the marketing environment using tools such as PESTEL and Porter's Five Forces to inform strategic decisions.
- Apply market segmentation and targeting techniques to identify and reach specific customer groups effectively.
- Develop integrated marketing strategies utilizing the marketing mix, branding, and positioning concepts.
- Evaluate the role of digital marketing, ethical considerations, and performance metrics in modern marketing practice.
Content Outline
PreviewUnit 4105: Marketing Management
1. Introduction to Marketing Management
- Definition and scope of marketing management
- Importance of marketing in business success
- Core concepts: value, exchange, needs, wants, demands
- Principles guiding marketing decisions
2. Marketing Environment Analysis
2.1 External Environment (Macro-environment)
- Overview of macro-environment factors
- PESTEL Analysis:
- Political factors
- Economic factors
- Social factors
- Technological factors
- Environmental factors
- Legal factors
2.2 Internal Environment (Micro-environment)
- Company capabilities and resources
- Suppliers, intermediaries, customers
- Competitors and Porter's Five Forces:
- Threat of new entrants
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products or services
- Industry rivalry
3. Market Segmentation and Targeting
- Concept and benefits of market segmentation
- Bases for segmentation:
- Demographic
- Geographic
- Psychographic
- Behavioral
- Evaluating and selecting target markets
- Positioning strategies tailored to target segments
4. Marketing Mix (4Ps)
- Product:
- Product life cycle
- Product features and variety
- Branding and packaging
- Price:
- Pricing strategies and models
- Factors influencing price decisions
- Place (Distribution):
- Channels of distribution
- Logistics and supply chain considerations
- Promotion:
- Promotion mix elements (advertising, sales promotion, PR, personal selling)
- Integrated marketing communications
5. Branding and Positioning
- Definition and importance of branding
- Brand equity and its components
- Brand positioning strategies
- Differentiation and competitive advantage
- Building and managing brand identity
6. Marketing Research and Consumer Behavior
- Purpose and types of marketing research
- Research process and data collection methods
- Understanding consumer behavior:
- Buying decision process
- Factors influencing consumer behavior (cultural, social, personal, psychological)
- Using research insights to inform marketing decisions
7. Marketing Strategies and Planning
- Aligning marketing strategies with organizational goals
- SWOT analysis for strategic planning
- Developing marketing plans:
- Goal setting
- Strategy formulation
- Tactical implementation
- Monitoring and adjusting marketing plans
8. Digital Marketing and Social Media
- Overview of digital marketing channels
- Role of social media platforms in marketing
- Content marketing strategies
- Search Engine Optimization (SEO) fundamentals
- Online advertising techniques (PPC, display ads, influencer marketing)
9. Marketing Metrics and Performance Measurement
- Key Performance Indicators (KPIs) in marketing
- Measuring campaign effectiveness
- Return on Investment (ROI) calculation
- Tools and software for performance measurement
10. Ethical and Sustainable Marketing Practices
- Ethical issues in marketing management
- Impact of marketing on society and environment
- Principles of sustainable marketing
- Strategies for integrating sustainability into marketing practices
- Corporate social responsibility (CSR) in marketing
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