New Product Development & Product Life Cycle
How do companies find new products and services? The management of markets and identification of market needs begin with market research, but these must quickly be coordinated with internal capacity to build a response to market intelligence and to respond also to changing provision of products and services coming from competitors.
The PLC or Product Life cycle model from launch, growth, maturity and decline, and the management of these different phases, either from a product or a service perspective. The relation between PLC and corporate strategy is naturally a close one, and through case illustrations the competitive impact of the PLC will be explored.
- The functions of brands for customers and organizations
- Brand management – launching new brands, managing existing brands and reviving old brands.
- Brand equity – conceptualization, measurement and management.
- Alternatives to brand equity, conceptualization, measurement and management.
Advertising & Marketing Communications (part of CIM modules)
- The Communication Process
- The Marketing Communications Mix
- Sales Promotion
- Personal Selling
- Direct Marketing
- PR and Corporate Advertising
- Buzz Marketing
- Integrated Marketing Communications
Public Relations and Corporate Communications
This module provides opportunities for students to develop and demonstrate knowledge and understanding, qualities, skills and other attributes in the following areas:
- The differences between product branding and corporate branding,
- The components of public relations, internal communications and of crisis communications,
- The design and delivery of a presentation of a corporate communications campaign targeted towards multiple stakeholders,
- Corporate Branding. The CEO as spokesperson,
- Corporate Communications in Takeovers and Mergers,
- Corporate Brand Equity.
Internal factors affecting Price : marketing objectives, Marketing Mix Strategy, Costs, Pricing and overall company goals. External Factors affecting Price : The Market and Demand, Competitors Prices and Offers, Environmental Forces.
The 3 approaches to Pricing : Cost-based pricing, Buyer-based pricing and Competition-based pricing.
Price adjustment strategies : Discount Pricing, Discriminatory Pricing, Psychological Pricing, Geographical Pricing. International pricing issues. New Product Pricing Strategies : market skimming pricing, market penetration pricing…
- The Distribution & Retail Marketing Environment,
- Managing Retail Marketing & Distribution,
- Demand-driven Distribution,
- Retail Marketing Mix,
Retail Promotion, Retail Pricing, Retail Distribution, Retail Own Brands,
International Retailing & Distribution,
E-Retailing & Distribution.,
Customer Service in Retail & Distribution.
This module deals with developments in the international business environment. International marketing theories are introduced aa are some of the key internationalisation models. Cases will illustrate these. Some of the detailed topics included are:
- Political Risk Analysis
- Culture Models and Impact on International Marketing
- International Market Research
- Market Selection Internationalisation
- Global Marketing Strategy
- Market Entry Decisions
What is a “service culture” ?
Theoretical background to services marketing. Using services marketing operational tools.
A services economy: the macroeconomic context. Services activities as specific outputs. Introducing and setting up services marketing : the “servuction” model.
Managing customer participation. Managing people in services activities. Managing the “serviscape” and the customer experience. New means of consumption.
Topics will include: Fundamentals of Business to Business Marketing; Generating and Using Knowledge about the Marketplace; Understanding Firms as Customers; Market Strategy in Business to Business Markets; Managing Market Offerings; Business to Business Channel Management; Gaining Customers; Sustaining Business to Business Relationships; Innovations in B2B Marketing.
The dynamics between the customer and the organisation are rapidly changing, and innovative methods for interacting with customers, new technologies and new strategies are emerging to increase customer value. In this module, the students will explore some of the cutting edge strategies and methods of creating and exploiting customer intelligence.
- Understanding Customers Value in a competitive world,
- Internal (human resources) versus external customers,
- Analysing suppliers and partners
- Why measure customer value?
- Traditional value measures,
- Customer Lifetime Value,
- Emerging new technologies and marketing breakthroughs,
- Tools for measuring customer value (data mining tools, online analytical processing),
- Infrastructure alternatives,
- CRM integration, vendor solutions,
- Legal confidentiality/privacy issues,
- Trends in the industry,
- Business cases and best practices.
Introduction to digital marketing:
Web 1.0, Web 2.0 and Web 3.0 : implications for marketing strategies and applications
Does the medium change the message? Characteristics of digital and web marketing media.
Success and failure in Digital Marketing. Digital marketing case studies.
Virtual Place Strategies. Search engine marketing: the death of Google?
Digital Product and Internet Pricing. Digital Promotion: ‘Tricks and gimmicks’ or ‘tools and techniques’?
The 5th ‘P’ – ‘People’: community, relationship, & marketplace dynamics.
Web-based Performance indicators and metrics. Planning and developing a digital marketing plan.
Introduction to Distribution and Retail Marketing.
Managing Marketing (CIM Module)
The focus of this unit is about developing the marketer as a manager, including giving them the knowledge and understanding required to develop and manage the marketing infrastructure and the organization’s talent development, capability and capacity This includes developing effective quality systems and processes to support compliance and approaches to measuring and monitoring marketing activities.
The unit also includes developing and managing marketing teams, which includes coordinating the human, financial and physical resources within the team effectively.
Finally the unit includes developing a detailed understanding of managing the financial aspects of the marketing function and its associated activities in order to ensure that the financial performance of the function is consistent, reliable, and effective.
Project Management in Marketing (CIM Module)
This unit will focus on the proactive development and delivery of a justified management process to support the initiation, implementation and control of marketing projects, including the use of research and information and preparing proposals and briefs to identify needs comprehensively.
The unit will also focus upon evaluating marketing project proposals and prioritising them on the basis of fit with market conditions, organizational capacity, competitor activity and strategic management, while concurrently managing the associated risk of implementing particular plans.
Ultimately the unit will also cover the implementation of marketing proposals including an in depth view of project management, but also integrating knowledge from the other units at this level.