Overview

The aim of this module is to introduce candidates to the marketing function of an organisation; to help them recognise how the marketing function of an organisation applies strategies and tools of marketing for maximum practical and commercial gain. Theoretical marketing principles are covered with an emphasis on local market-based and financial-services related application.

Specifically, this module focuses on defining marketing and the marketing process within an organisation, understanding the marketplace and consumers, designing a customer driven strategy and mix. Also focus is put on pricing, communication and application of the promotional mix, and marketing channel management.

Indicative Content:

• Marketing: Creating and capturing customer value • Company and marketing strategy: Partnering to build customer relationships • Analysing the marketing environment • Products, services and brands: Building customer value. • Pricing • Communicating customer value: Integrated marketing communications strategy • Promotion mix strategies: Advertising and public relations • Direct and online marketing: Building direct customer relationships • Managing marketing channels

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Compare basic promotional mix tools and marketing channels in terms of impact and effectiveness.

• Discuss product life-cycle and the factors that affect the company’s pricing strategy.

• Discuss the role that marketing plays in strategic planning and how the marketing function collaborates with other departments in the institution to create and deliver customer value.

• Evaluate the environmental forces that affect a company’s ability to service its customers and make marketing decisions.

• Explain the major steps in designing a customer-driven marketing strategy with a focus on segmentation, targeting, differentiation and positioning.