BUSI1241: Marketing Strategy in Practice

• None

• BUSI1131 Marketing Principles

• None.

• Provide a learning environment which gives students an understanding of how marketing decisions are made in practice and possible responses to the consequences of those decisions
• consolidate and extend students understanding of marketing strategy and planning in theory
• develop skills of critical reflection relating to their own and others decision-making within a team environment.

• The processes of marketing strategy and planning
• Analysis of competitive markets
• Evaluation and selection of target markets
• Achievement of competitive positioning in the marketplace
• Branding decisions
• Selection of appropriate marketing tactical actions
• The role of market research to support decision-making
• Reflecting on decisions
• Team working roles.

Subject-specific Knowledge:

• Understand marketing strategy and planning in an applied context
• Understand the importance of evidence and information to marketing decision-making.

Subject-specific Skills:

• Work effectively as a team to make appropriate marketing planning decisions
• Identify and utilise relevant information to support decisions
• Identify the impact of tactical actions on marketing Key Performance Indicators (KPIs)
• Reflect on the outcomes of those decisions and identify corrective tactical actions.

Key Skills:

• Team-based collaborative working
• Co-operative learning
• Planning, organising and time management
• Problem-solving
• Presentation skills
• Communication skills both oral and written
• Commercial awareness
• Critical reflection.

• The foundation of the module is participation in a time-based, online simulation exercise designed to consolidate and develop students understanding of applied marketing strategy and tactics. Each week, students will develop their theoretical understanding of marketing strategy then work together in small teams to manage competing brands within a specific product market applying marketing knowledge and concepts in a practical environment.
• In this simulated real-time environment, students will learn to understand the customer, analyse the market structure and competition, set marketing strategy, implement tactical marketing decisions and ultimately, compete with other teams to win market share. Through immersion in a virtual professional setting, students will be able to appreciate how theory relates to practice and how to apply it effectively. In addition, they will be required to reflect on the consequences of their decisions and decision-making processes both individually and in teams. This will include active exploration and reflection on team-working, through the use of Belbins Team Roles.
• Teaching and Learning will be grounded in lectures and workshops delivered in the interactive, TEAL environment.

Each week, teams enter their marketing decisions and receive (automated) feedback on the impact of their decisions - including competitive performance in relation to other teams in the simulation. A summary document on all decisions is available at the end of the simulation. Tutor and peer feedback will be available in the timetabled sessions. In addition, informal feedback on each groups performance will be provided by the tutor each week during the teaching and learning sessions.

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