MODULE DESCRIPTION TEMPLATE MODULE TITLE Competitive Marketing Strategy Module Code Semester of Delivery State whether module is Mandatory, Elective or Option Level (4/5/6/7/8) Credit Points Assessment Components & Percentage Weighting* Pre-Requisite Modules (if applicable) Breakdown of Student Learning Hours by Type Module Leader & Faculty Module Banding Date of Original Approval Date of Next Review 25-6099-00L Mandatory 6 20 CWEX100 Tim Williams, Organisation and Management AIMS AND RATIONALE 1 2 The aims of this module are to: Develop the analytical skills necessary to generate and evaluate competitive marketing strategies. Examine the techniques that will allow the development and execution of sustainable competitive advantage. The reason for having this module and for having it at this level is that: As customer choice widens and product life cycles shorten, organisations are having to re-evaluate their approach to gaining sustainable competitive advantage. At the heart of this is the need for a comprehensive understanding of their customers, the organisation’s capabilities and the competitive environment in which it operates. Intangible benefits including service and branding are increasingly the foundation on which differentiation and advantage will need to be built. Successful marketing managers will be those who can identify, establish and leverage these augmented elements to drive sustainable competitive advantage. D:\106757641.DOC Page 1 of 5 - Updated: 7 March, 2016 This module carries certain exemptions from the professional exams of the Chartered Institute of Marketing. Membership of this body is becoming increasingly important for those following a career in marketing. 3 4 By the end of the module you will be able to: Analyse and evaluate the factors influencing customers’ choice Apply a number of different models of strategic marketing analysis. Generate and evaluate alternative strategic marketing options. Develop and justify proposals for generating sustainable competitive advantage. Work within a group to analyse & address a given marketing situation These are the main ways of learning and teaching which will help you to achieve the learning outcomes: The module aims to encourage students to develop the analytical, evaluative, creative and critical patterns of thought required to develop competitive marketing strategies across a variety of markets. Lectures will be used to introduce and discuss key concepts and to offer directed reading. The applied nature of this module places particular emphasis on preparation and participation in the seminar programme which is designed to allow exploration of concepts and to practice their application. Each seminar will build on the lecture programme through the introduction and discussion of articles, exercises, videos and case studies. These are designed to be highly interactive. Students will be expected to prepare ahead of the seminars and to participate in the discussions. Students will also have access to the appropriate skills packs and to on-line databases D:\106757641.DOC Page 2 of 5 - Updated: 7 March, 2016 ASSESSMENT AND FEEDBACK 5 This is how the learning outcomes will be assessed: This module will be assessed by means of 25%coursework and 75% examination. The coursework element will include a piece of group work based on analysis and presentation of case study material. The group work will be spread throughout the period in which the module runs. The examination element will further assess students' understanding, use and application of key module concepts. 6 This is how and when you will be given feedback on your performance: Some verbal feedback will be given at the time of the coursework presentation. Written feedback and marks will be given after the final group has presented. D:\106757641.DOC Page 3 of 5 - Updated: 7 March, 2016 7 To achieve a pass, you will: Learning Outcome from Module Description Analyse and evaluate the factors influencing customers’ choice Assessment Criterion (where assessed) Level descriptors Fail - below 40% Analysis of customer choice in given business situations (c/w & exam) Incomplete or inappropriate analysis. Lack of application Apply a number of different models of strategic marketing analysis. Models, concepts & terminology used and applied (c/w & exam) Inadequate use of appropriate academic underpinning. Lack of application Generate and evaluate alternative strategic marketing options Develop and consider various responses. (c/w & exam) Develop and justify proposals for generating sustainable competitive advantage. Work within a group to analyse & address a given marketing situation Pass, 40-49% 50-59% 60-69% Distinction, 70% Some relevant analysis. Poor customer understanding. Limited application Some use of relevant tools. Lacking in fluency or conviction Analysis shows good level of understanding. Reasonable application Detailed, appropriate analysis showing high level of understanding & application. Reasonable use and application of appropriate models & concepts. Relevant tools used and thoroughly applied. Extensive analysis showing exceptional insight. Thoroughly & appropriately applied Comprehensive & thorough application of appropriate models & concepts. Fluent use of terminology Alternative options not generated or inadequately considered. Limited range of options. Poorly considered. Appropriate strategic options generated. Some consideration given. A good range of strategic options. Full consideration and discussion. Extensive options developed. Alternatives comprehensively evaluated against appropriate criteria. Strategic proposals and justification (c/w & exam) Inappropriate proposals with no sound justification Poorly considered proposals. Limited justification Appropriate, though limited proposals. Reasonable justification Thorough & relevant proposals supported by sound rationale Fully evaluated proposals showing high level of insight. Fully justified Working effectively as a team on group assignment (c/w) Lack of cohesiveness within team. Contradictory responses Some inconsistencies shown Reasonably united response. No significant variance between members Good understanding shown by each member Fully consistent response. Excellent level of understanding shown by each group member D:\106757641.DOC Page 4 of 5 - Updated: 7 March, 2016 8 These are examples of the content of the module and the main learning resources you will use: Indicative Content Customer Analysis. Buyer behaviour in consumer and organisational markets. Critical success factor analysis. Links with segmentation, targeting and positioning. Sustainable Competitive Advantage. Analysing the competitive environment. The influence of market position upon strategy and performance. Creating competitive advantage. Issues of sustainability. Determining Strategic Direction. Setting marketing objectives. Concepts and models for generating and evaluating strategic options. Making strategic choice. Strategic Management of the Marketing Mix. The role of mix elements in creating and sustaining competitive advantage. The link between price, volume and profitability. Branding strategies and leveraging brand equity. The main learning resources required: Classroom VCR and AV equipment Strategic Marketing texts Marketing and Business journals Paper-based and Online databases of market and company information Access to a PC D:\106757641.DOC Page 5 of 5 - Updated: 7 March, 2016