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MKT-311 Marketing Strategy

Course Description
This course builds on the marketing concepts developed in the marketing principles course. It focuses on the procedure for planning and developing marketing strategies involving the marketing mix for both production and service businesses. The course also examines global market strategies.

  • Prerequisite Courses: Principles of Marketing (BU270)

A.  PROGRAM LEARNING OUTCOMES (PLOs)
The student will be able to:

  1. Demonstrate an understanding of basic concepts in organizational behavior.                                            
  2. Demonstrate an understanding of the intricacies of marketing planning and overall marketing.
  3. Demonstrate an understanding of the concepts underlying corporate financial decision making.
  4. Demonstrate an understanding of the role of entrepreneurship and small business in the FSM economy.
  5. Demonstrate basic knowledge of international business.
  6. Demonstrate an understanding of economic development issues.
  7. Demonstrate an understanding of statistical methods of sampling and estimating population statistics.

B.  STUDENT LEARNING OUTCOMES (SLOs) - GENERAL: 
The student will be able to:

  1. Develop a full understanding of the intricacies of marketing planning and overall marketing strategy. 
  2. Demonstrate an understanding of the sequential nature of marketing and the importance of monitoring mechanisms.
  3. Demonstrate an understanding of the scope of comprehensive marketing in light of current technological developments..

SLO

PLO 1

PLO 2

PLO 3

PLO 4

PLO 5

PLO 6

PLO 7

1

 

D

 

 

 

 

 

2

 

D

 

 

 

 

 

3

 

D

 

 

 

 

 

I = Introduced
D = Demonstrated
M = Mastered

C. STUDENT LEARNING OUTCOMES (SLOs) – SPECIFIC:
The student will be able to:

      General SLO 1. Develop a full understanding of the intricacies of marketing planning and overall marketing strategy. 

Student Learning Outcomes

Assessment Strategies

1.1. Explain the concepts of planning, strategy, strategic planning and strategic planning and strategic marketing.      

assignments, case analysis, quizzes, research project

1.2. Describe the process of strategic marketing including its implementation.

assignments, case analysis, quizzes, research project

1.3. Explain the dimensions of the product, pricing, distribution and promotional strategies (4Ps).

assignments, case analysis, quizzes, research project

1.4. Describe various market strategies: market-scope strategy; market-geography strategy; market-entry strategy; market-commitment strategy; market-dilution strategy.        

assignments, case analysis, quizzes, research project

1.5. Discuss the criteria used in SBU strategy evaluation.

assignments, case analysis, quizzes, research project

General SLO 2. Demonstrate an understanding of the sequential nature of marketing and the importance of monitoring mechanisms.

Student Learning Outcomes

Assessment Strategies

2.1. State the importance of environmental scanning in marketing strategy and demonstrate the whole process.

assignments, case analysis, quizzes, research project

2.2. Define competitive intelligence and explain the various types and sources.

assignments, case analysis, quizzes, research project

2.3. Identify the different types of environment and explain how they affect the organization.

assignments, case analysis, quizzes, research project

General SLO 3. Demonstrate an understanding of the scope of comprehensive marketing in light of current technological developments.

Student Learning Outcomes

Assessment Strategies

3.1. Outline the elements of the global market environment

Assignments, case analysis

3.2. Explain the formulation of strategy for global marketing programs

Assignments, case analysis

D.   COURSE CONTENT
Part 1: Setting the Stage for Marketing Strategy

  1. Marketing in Today’s Economy
  2. Strategic Marketing Planning
  3. Marketing Ethics and Social Responsibilities in Strategic Planning

Part 2: Discovering Market Opportunities

  1. Collecting and Analyzing Market Information
  2. Developing Competitive Advantage and Strategic Focus

Part 3: Developing Marketing Strategy

  1. Customers, Segmentation and Target Marketing
  2. Product Strategy
  3. Pricing Strategy
  4. Distribution and Supply Chain Management
  5. Integrated Marketing Communications

Part 4: Putting Strategy into Action

  1. Marketing Implementation and Control
  2. Developing and Maintaining Long-term Customer Relationship

E.  METHODS OF INSTRUCTION
Lectures, guest speakers, research project, business plan, case analysis, homework, classroom exercises, and various individual and group assignments. Power-point, LCD projections and videos will be used as instructional aid and other teaching materials depending on availability.

F.  REQURIED TEXT(S) AND COURSE MATERIALS
Ferrel, O. C, & Hartline, M. D. (2010) Marketing Strategy. (5th Ed) USA: South-Western Cengage Learning. (or most recent edition)

G   REFERENCE MATERIALS
None

H.  INSTRUCTIONAL COSTS
None

I.   EVALUATION
None
J.   CREDIT BY EXAMINATION
None

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