HI5004 Marketing Management
HI5004 Marketing Management HOLMES INSTITUTE
HOLMES INSTITUTE DEGREE PROGRAMS
At Holmes Institute, the degree programs offer domestic and international students the opportunity to study a set of contemporary subjects in the field of business. These subjects prepare students for the challenges in business environments of the 21st century. These programs emphasize the global and cross-cultural dimensions of business. Teaching utilizes a combination of delivery methods and includes critical analysis and case study methods. A combination of exams, case studies and company analysis are used in assessment.
The Masters’ programs of Holmes Institute focus on:
- Developing career related capabilities
- Emphasis on business numeracy and literacy
- Managerial proficiency
- The new economy
- Social responsibility and ethics
Welcome to HI5004 where we study Marketing Management. Marketing begins and ends with the customers. It is about meeting their needs profitably and building relationships.
Marketing Management aims to get, keep and grow customers. It involves choosing a target market, crafting a unique positioning for the product/service, getting the “marketing mix” right, building brand equity, and creating, communicating and delivering superior customer value.
Kotler, Keller and Burton’s book on Marketing Management talks about marketing in the 21st century as follows: “Marketing is everywhere. Formally or informally, people and organisations engage in a vast number of activities that we could call marketing. Effective marketing has become an increasingly vital ingredient for business success. And marketing profoundly affects our day-to-day lives. It is embedded in everything we do – from the clothes we wear, to the websites we click on, to the ads we see.”
The purpose of this subject is to provide an understanding of marketing management and to introduce students to the principles and practices of marketing, from both a local and international perspective. The course covers various topics, including: Defining marketing; the role of market research in marketing; building strong brands; applying the 4P’s/7P’s of the marketing mix; goods versus services marketing and, integrated marketing communications (IMC)
Assignment Objective and Learning Outcome
On completing this subject the students will have
- An understanding of the theory and practice of marketing management;
- An understanding of how marketing tools are applied in a variety of business settings;
- An understanding of how marketing strategy is formulated from market intelligence;
- Enhanced problem-solving and decision-making abilities in relation to market analysis;
- An understanding of how companies organize their marketing programs and manage these activities effectively.
STUDENT ASSESSMENT DETAILS
Assessment 1: Individual assignment Length: 1500 words Assessment 2: Group assignment Marketing strategy development Length: 2500 words (includes references)
This assignment requires you to undertake the process of analysing one organisation in Cosmetic Industry and its operating environments from a marketing perspective. And then apply the learning from lecture 1-10 in the development of marketing strategy. You will provide an overview of this organisation, as well as detail the type of orientation towards marketing it takes. You are also required to examine and analyse the context and environments in which this organisation operates (its industry and the macro-environmental forces impacting on the industry).
The report must address the following issues:
Provide a brief description of this organisation and the industry to which it belongs. You may also want to include in this description any mission statements, value statements or ‘slogans’ that this organisation utilizes to communicate its purpose. In describing this organisation, please also identify its orientation towards marketing and provide relevant, detailed and factual supporting evidence to substantiate why you have identified this specific orientation. Finally, include a brief description of the product(s) this organisation offers the market. And comment on what role the brand has in this organisation’s marketing strategy.
Analyse each of the 5Cs for this organisation:
- Company – what are the strengths and key resources, what are some of the weaknesses? What are the opportunities and threats?
- Customers – who is the company serving and what type of behaviour is ‘typical’ from them?
- Collaborators – describe their suppliers, distributors or other partners that help the company to deliver their products to the market? If company doesn’t have any – explain why it is not necessary.
- Competitors – who are the current main competitors, are there any potential new threats or new entrants to the marketplace?
- Context – what other factors affect this organisation (e.g., legal, political, technological, etc.)?
How does the firm go about collecting information (e.g., market research, market intelligence, etc.) about the 5Cs? For example, how does it learn about?
- What customers want?
- Which competitors pose a threat?
- How the context of business is changing, if at all?
- What role collaborators play in the process?
Issue 4: Developing marketing strategy
Based on the market analyses, outline potential market segments that are available to the chosen organisation. Recommend and justify:-
- a choice of target market(/s)
- a value proposition for the target market(/s).
- a positioning statement for the target market(/s).
Issue 5: Developing marketing tactics
Recommend and justify a detailed marketing mix (4-7Ps) to support the marketing strategy described in Issue 4.
** In all cases, please remember to justify your argument(s) in this assignment by explaining and providing reasoned arguments for why you have formed your views. Please ensure that you support your arguments by explicitly applying and drawing insights and conclusions from relevant marketing models, concepts and theory covered in the course to date. Do not simply rely on offering personal conjecture or opinions.
HI6005 Marketing Management HOLMES INSTITUTE Assessment 2: Group Assignment
Written Report 20% and Oral Presentation 10% = 30%
3000 words for Report.
10 minutes for Presentation.
Week 11 (By Fri by 5 pm) for Written report Presentations = During Week 10, 11 n 12
Note: Students are required to discuss the topic with their lecturer before they start the assignment.
This assignment must be done as part of group. Students are to form groups of 4 to 5 (may vary depending on class size) and will be allocated one organization/industry from the following list:
- 1 Business School/University in Australia
- 2 Any small to medium manufacturing company in Australia
- 3. Fitness industry
- 4. Organic food
- 5. Any tourist resort in Australia
- 6. Farm House in Australia
Other organisations are possible to be negotiated with your lecture (at least 2 weeks prior to the due date)
Each group is to prepare a written report (in report format of approximately 3500 words) and an oral presentation (in PowerPoint format) of approximately 15 minutes duration, outlining the following:
- Executive Summary with key findings and recommendations
- Clear and concise description of the market in which the organization operates
- Summary of the marketing environment (both micro and macro-environmental forces and trends)
- Detailed description of how the market is (or may be) segmented and a statement of the segment(s) that the organization is targeting.
- Brief discussion of the behaviour of customers in the segment(s) identified above
- A description of the marketing mix being used by the organization to target these segments
- A recommendation for improvements to the organization’s marketing effort.
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