MM101: PRINCIPLES OF MARKETING
This unit will be offered in:
OLD TUCKSHOP (Senga Training Centre)
The lecturing team responsible will be:
Chitura T (Module Coordinator)
Room: Syndicate 3 (Senga Training Centre)
Phone: +26311 643916
Email:
Bingara T
Room: Syndicate 3 (Senga Training Centre)
Phone: +26311 356449
Email:
Introduction to the module
Whether or not you realize it, you are surrounded by the activities of marketing. When you tune in to television or pick up your favourite magazine, you are involved in marketing. Each time you enter a shopping complex, go online or visit a movie cinema, you are involved in marketing. And when you visit the dentist, have your haircut or decide which holiday package to take, you’re involved in marketing. So, in this module we explore the basic principles and concepts, which underpin the practice of marketing so that you can develop a solid grounding for later study in marketing. That grounding will also be of real value to you even if you do not go on to further study in marketing, but start your career in other areas of the business world instead. By applying a framework to the marketing practices which surround you, and therefore by becoming able to understand what marketing is about, and how central it is in many business decisions, you will gain an edge over those who do not have similar knowledge. During this module you will, for example, learn about concepts and issues surrounding why people buy the things that they do, what forces constrain and shape a marketer's activities, and you will meet the 4Ps of marketing (product, price, place and promotion), known as the marketing mix. These and other topics are all developed in more depth in specialist units offered, such as Consumer Behaviour, Services Marketing, Electronic Marketing and Marketing Communications. As a 'capstone' unit, Marketing Management expands on the foundations developed in Principles of Marketing to give a managerial and strategic focus to the many issues involved in successful marketing. Over the course of these units, you will come to realize that the activities of marketing really do lie at the heart of all business practices. Does that mean you will be an expert in marketing when you have successfully completed this unit? Well, you will have definitely started in that direction. And you will certainly be more of an expert and more realistic than many managers in the ‘real’ world who run companies, make business decisions, export products and services, but don’t understand what they are doing as well as they could. As more and more managers realize this, so is there increasing demand for people who understand what marketing is about and who have marketing skills. So, for you, this unit is a great opportunity. We hope you enjoy it.
Learning Outcomes
On completion of this module, you should be able to:
• Describe the role of marketing in the organisation and society.
• Identify the fundamental principles of marketing and how they apply to organizations.
• Identify the elements of the marketing mix.
• Critically analyze marketing situations and evaluate marketing strategies.
Course content
1. The nature and scope of marketing
1.1 Defining marketing, needs, wants, market, target market, customer value and satisfaction.
1.2 The exchange process and types of exchanges
1.3 Evolution of the marketing concept
2. The marketing environment
2.1 Environmental analysis defined
2.2 Strategic importance of environmental analysis
2.3 Scanning micro and macro-environments: opportunities and constraints
2.4 Steps in environmental scanning
2.5 problems in environmental scanning
3. S.T.P (segmentation, targeting & positioning)
3.1 The STP process
3.2 Concept of market segmentation
3.2.1 Basis of segmenting consumer markets
3.2.1 factors affecting the feasibility of market segmentation
3.3 Concept of market targeting
3.4 Market targeting strategies
3.5 Concept of product positioning
3.5.1 Defining positioning
3.5.2 Positioning bases
4. Consumer and buyer behavior
4.1 Analysis of what makes buy.
4.2 The stimulus response model of buyer behaviour
4.3 Factors influencing consumer behaviour
4.4 Types of buying behavior
4.5 The consumer decision-making process
5. Marketing research and MKIS
5.1 Defining market and marketing research
5.2 Strategic role/importance of marketing research
5.3 Types of market research
5.4 The marketing research process
5.5 Defining MKIS and its components
6. The marketing mix elements
· Defining marketing mixes
· Elements of the marketing mix: 7P’s (4 Hard and 3 Soft P’s)
6.1 Product
6.1.1 Defining the product, product attributes and product benefits
6.1.2 Components/levels/anatomy of the product
6.1.3 Classification of products and consumer goods
6.1.4 PLC concept
6.1.5 Market characteristics and marketing mixes at various stages of the PLC
6.1.6 Relevance and criticisms of the PLC
6.1.7 NPD process and why new products fail
6.1.8 Branding decisions
6.2 Place
6.2.1 Defining marketing channels and their necessity.
6.2.2 Channel structure: vertical vs horizontal
6.2.3 Influences on channel development
6.2.4 Channel planning: determining the types and number of intermediaries
6.2.5 Channel cooperation, conflict and competition
6.2.6 Vertical and horizontal marketing systems (VMS& HMS)
6.3 Price
6.3.1 The scope and meaning of price: terms used to describe price
6.3.2 Pricing objectives
6.3.3 New product pricing decisions
6.3.4 Factors affecting price decisions
6.3.5 Steps in setting prices
6.3.6 Product line strategies
6.4 Promotion
6.4.1 The promotional mix elements
6.4.2 Factors influencing the promotion mix
6.4.3 Objectives of promotion activities
6.4.4 Promotion management
6.5 Soft P’s
6.5.1 Physical evidence: layout, décor and aromatics.
6.5.2 People: employee selection, training and motivation.
6.5.3 Process: customer handling
7. Social responsibilities and marketing ethics
7.1 Concept of social responsibility
7.2 Consumerism
7.3 Environmentalism
Recommended reading list and support material
1. Kotler, P. (2000) Principles of marketing millennium edition, Prentice hall
2. McCarthy, J. and Perreault, P. (1997) Basic marketing 12th edition, Irwin & Homewood
3. Stanton et al (1991) Fundamentals of marketing 10th edition, McGraw hill
4. Zikmund, W.G. and D’ Amico, M. (1996) Marketing, 5th edition, West Publishing Company
5. Schoell, W.F and Guiltinan, J.P. (1995) Marketing: contemporary concepts and practices, 6th edition, Prentice Hall Englewood Cliffs, New Jersey.
N/B: The above list of books is not exhaustive and students are encouraged to read any marketing text covering topics/material in the course outline.
ELECTRONIC Journals and Periodicals
Apart from books, you will find it valuable to get into the practice of reading relevant articles from journals and periodicals (including newspapers and magazines). Online journals such as: www.emeraldinsight.com and www.marketingpower.com are useful.
Assessment
In order to pass this module you must achieve an overall mark of at least 50 per cent of the total available marks.
Examination Format
The final examination will be a three-hour paper. The examination is worth 70% of the total marks. The examination will comprise two parts: Part A is a case analysis worth 40 marks. You will be asked to critically analyze the marketing practices of a case organisation. You will be provided with the case study in the examination. Part B requires you to complete 3 essay questions from a list of 5 essay questions. Each essay will be worth 20 marks, with Part B worth a total of 60 marks. Essay topics will be drawn from any aspect covered during the duration of the semester. The best preparation for the exam is consistent work throughout the semester, together with participation in tutorial activities.
Submission of Coursework
All coursework must show the appropriate information (name of student, surname, Reg number, mode of entry, level and department on the cover page. All assignments must include the lecturer’s name on the cover page when they are handed in. Please remember that you are responsible for lodging your coursework on or before the due date. We suggest you keep a copy in case there may be unforeseen problems. Even in the most ‘perfect’ of systems, items sometimes go astray.
Late Coursework
Extensions will only be granted on medical or compassionate grounds and will not be granted because of work or other commitments. Requests for extensions should be made in writing to the lecturer prior to the due date. Medical certificates or other evidence must be attached and must contain information, which justifies the extension sought. Late assignments, which have not been granted an extension, will, at the lecturer’s discretion, be penalized by deducting twenty per cent of total marks for each full day overdue. Assignments submitted on the sixth day will not be accepted by the lecturer.
Return of Coursework
Coursework will be returned during classes or it can be collected from the lecturer’s or tutor’s office at nominated times.
Plagiarism
Plagiarism is a form of cheating. It is taking and using someone else’s thoughts, writings or inventions and representing them as your own, for example:
• Using an author’s words without putting them in quotation marks and citing the source;
• Using an author’s ideas without proper acknowledgment and citation; or
• Copying another student’s work.
If you have any doubts about how to refer to the work of others in your assignments, please read the referencing document on your e-learning account for relevant referencing guidelines. The intentional copying of someone else’s work as one’s own is a serious offense punishable by penalties that may range from a fine or deduction/cancellation of marks and, in the most serious of cases, to exclusion from the module, a course or the University. Details of penalties that can be imposed are available in the university’s yearbook.
Assignment Topics
Assessment Item 1 – Group work
Due Date: 07 April 2008 (All VS students), 07 May 2008 (All CDP/PDP students)
“The purpose of the business is to create the customer” (Drucker, 1973). Discuss the
relevance of this statement in view of the prevailing macro-economic situation in
Zimbabwe. (100 MARKS)
N/B: Assignments should conform to the following standards:
· Typed with 1.5 spacing, font size of 12, New Times Romans.
· Referencing (both in text and references section) using the Harvard system.
· Submission directly to the lecturer on or before the due date without fail.
· Maximum group size is 10 for CDP/PDP students and 8 for VS students.
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