MKTG313 - Strategic Marketing and Planning

Year

Credit points

Campus offering

Prerequisites

MKTG207 Marketing Toolkit OR MKTG100

Teaching organisation

150 hours over a twelve-week semester or equivalent study period

Unit rationale, description and aim

Strategic Marketing and Planning is the capstone unit of the marketing major. It brings together the marketing knowledge and skills developed throughout the major and provides students with the opportunity to demonstrate these skills through the creation of a well-researched, realistic marketing plan.

The unit covers material such as the processes involved in strategic marketing planning: design of competitive marketing strategies, and the implementation and control of strategic marketing plans, that are based on competitive differential advantage. Through integration of marketing theories, concepts, models and marketing practices covered in this unit and in previous marketing units, students will learn how to apply advanced analytical, planning and implementation skills in the planning of marketing strategies for existing and new products in the marketplace. The focus is on both new ventures as well as existing organisations.

The aim of this unit is to give students a set of skills to assist them as future marketing practitioners. This set of skills has its foundational roots in units like buyer behaviour, market analytics, marketing communications and the marketing toolkit. It is then overlaid with knowledge about marketing plans, the process of planning, the basis of sound marketing strategy, and the design and implementation of strategy. The unit will help to make students ready to perform marketing roles within organisations. 

Learning outcomes

To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.

Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.

Explore the graduate capabilities.

On successful completion of this unit, students should be able to:

LO1 - Use a variety of analytical tools and frameworks in strategic marketing and incorporating local and international perspective (GA5, GA6)

LO2 - Design marketing strategy, based on competitive advantage, taking into account customer needs and incorporating consumer-driven trends toward sustainable marketing practices (GA4, GA5)

LO3 - Develop a strategic marketing plan, mobilising essential organisational resources and including input from employees of all hierarchical levels in the decision making, for the achievement of long- term organisational goals (GA5, GA8)

LO4 - Apply marketing tactics, such as marketing programs, schedules and budgets in the implementation of the strategic marketing plan (GA5)

Graduate attributes

GA4 - think critically and reflectively 

GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession 

GA6 - solve problems in a variety of settings taking local and international perspectives into account

GA8 - locate, organise, analyse, synthesise and evaluate information 

Content

Topics will include:

• strategic planning and the strategic marketing plan
• conducting situation analysis and assessing market opportunities 
• competitive marketing strategies and competitive advantage 
• issues of stewardship and subsidiarity affecting marketing strategy and implementation
• implementation and control of strategic marketing plans.

Learning and teaching strategy and rationale

The learning and teaching strategy is based on student engagement in the learning process by participation in workshops or equivalent and practical activities designed to reinforce learning. Workshops and equivalent support students to actively participate in the construction and synthesis of knowledge both individually and in small groups. This unit takes an active learning approach to guide students in the development, knowledge and processes utilised by organisations to develop sound strategic marketing and planning. Students are able to explore the knowledge base underpinning marketing strategy and planning in a series of workshops or equivalent and practical activities. These workshops or equivalent and practical activities are designed to support students to actively participate in the development of their knowledge, both individually and in groups. By participating in these workshops or equivalent and practical activities, the learner will develop an understanding of and practical skills in the strategic marketing processes and business tools used to develop, execute and evaluate marketing strategy. This unit takes a collaborative and experiential learning approach through a series of lectures, discussions and examples. This approach is designed for students to develop critical and reflective skills with practical skills in an independent and group environment.

Mode of delivery: This unit is offered in different modes to cater to the learning needs and preferences of a range of participants and maximise effective participation for isolated and/or marginalised groups.

Attendance Mode

In an attendance mode, students will require face-to-face attendance in specific physical location/s. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops, most students report that they spend an average of one hour preparing before the workshop and one or more hours after the workshop practicing and revising what was covered. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for students to prepare and revise.

Blended Mode

In a blended mode, students will require intermittent face-to-face attendance determined by the School. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for you to prepare and revise.

Online Mode

In an online mode, students engage in asynchronous online learning and participate in the construction and synthesis of knowledge, while developing their knowledge. Students are required to participate in a series of online interactive activities to enhance their learning including knowledge checks, discussion boards and self-paced exercises. This approach allows flexibility for students and facilitates learning and participation for students with a preference for virtual learning.

ACU Online

This unit uses an active learning approach to support students in the exploration of knowledge essential to the discipline. Students are provided with choice and variety in how they learn. Students are encouraged to contribute to asynchronous weekly discussions. Active learning opportunities provide students with opportunities to practice and apply their learning in situations similar to their future professions. Activities encourage students to bring their own examples to demonstrate understanding, application and engage constructively with their peers. Students receive regular and timely feedback on their learning, which includes information on their progress.

Assessment strategy and rationale

In order to pass this unit, students are required to demonstrate mastery of all learning outcomes and achieve an aggregate mark of at least 50%. Marking of each assessment task will be in accordance with rubrics specifically developed to measure student level of achievement of the learning outcomes for each assessment item. A final grade will be awarded reflecting the overall achievement in the Unit. The assessment strategy for this Unit allows students to sequentially develop their knowledge and skills in marketing strategy and planning to the point where they can design a marketing strategy and a marketing plan. In order to develop this capability, students will demonstrate knowledge of strategic marketing theories, concepts and practice in a critical analysis of an organisation and development of an analysis, utilising business tools, culminating in the development of a Marketing Plan.

The assignments sequentially focus on the three core skills required for the development of a successful marketing plan and which are integral to marketing practice:

• Analysis of the relevant internal and external factors impacting on the organisations marketing inclusive of levels of input and decision making demonstrating the ‘science’ of marketing;
• Strategic decisions which draw on the analysis and relate to issue such as the organisations overarching strategic approach, market positioning, segmentation and so on demonstrating the ‘art’ of marketing; and
• Tactical decisions which draw on the analysis and strategic decisions to create a realistic and achievable marketing plan demonstrating the management function of marketing.

With the first assignment, market analysis is essential prior to consideration of possible strategic options for an organisation or product. Students will require knowledge of and ability to utilise business tools, including PESTEL Analysis, SWOT analysis, Porter’s Five Forces, Industry Life Cycle, and the Ansoff Matrix. These are tools regularly used by marketing practitioners. 

With the second assignment, a simulation, students develop skills in taking information gained through market analysis and designing appropriate marketing strategy for identified markets. Assignments one and two provide the basis for the final Assessment which is the development of a realistic, cohesive strategic marketing plan for the organisation or products based on the foundations laid in the first two assessment tasks.

Overview of assessments

Representative texts and references

Ferrell, O C, Hartline, M and Hochstein, B W 2020 Marketing Strategy, 8th Ed Cengage

Hooley, G., Piercy, N.F., Nicoulaud, B., and Rudd, J.M. and Lee. N. (2020), Marketing Strategy & Competitive Positioning, 7th Edition, Pearson UK;

Craven, D., Piercy, N. (2017) Strategic Marketing, EBOOK, 1st ed. McGraw-Hill

Palmatier, R. W. and Sridhar, S (2017), Marketing Strategy based on First Principles and Data Analytics, Macmillan

Reed, P. (2015) Strategic Marketing: Decision Making & Planning, 4th Edition, Cengage

Current Scholarly Articles

Kimiagari, S, Keivanpour, S & Haverila, M 2021 Developing a high-performance clustering framework for global market segmentation and strategic profiling. Journal of Strategic Marketing. Apr, Vol. 29 Issue 2, p93-116

Islam, H, Jebarajakirthy, C & Shankar, A 2021 An experimental based investigation into the effects of website interactivity on customer behavior in on-line purchase context. Journal of Strategic Marketing. Apr, Vol. 29 Issue 2, p117-140.

Ibrahim, Essam B & Harrison, T 2020 The impact of internal, external, and competitor factors on marketing strategy performance. Journal of Strategic Marketing. Oct, Vol. 28 Issue 7, p639-658

Inyang, A E & Jaramillo, F 2020 Salesperson implementation of sales strategy and its impact on sales performance. Journal of Strategic Marketing. Oct, Vol. 28 Issue 7, p601-619

Shehu, E Papies, D, Neslin, S A, 2020 Free Shipping Promotions and Product Returns. Journal of Marketing Research. Aug, Vol. 57 Issue 4, p640-658

Keller, K O, Geyskens, I & Dekimpe, M G, 2020 Opening the Umbrella: The Effects of Rebranding Multiple Category-Specific Private-Label Brands to One Umbrella Brand. Journal of Marketing Research. Aug, Vol. 57 Issue 4, p677-694.

Peck, J, Kirk, C, Luangrath, A W & Shu, S 2021 Caring for the Commons: Using Psychological Ownership to Enhance Stewardship Behavior for Public Goods. Journal of Marketing. Mar, Vol. 85 Issue 2, p33-49

Spry, L, Foster, C Pich, C & Peart, S 2020 Managing higher education brands with an emerging brand architecture: the role of shared values and competing brand identities. Journal of Strategic Marketing. Jun, Vol. 28 Issue 4, p336-349.

Zhou, C, Albuquerque, P & Grewal, Rajdeep 2021 Competition and Firm Service Reliability Decisions: A Study of the Airline Industry Journal of Marketing Research. Apr2021, Vol. 58 Issue 2, p377-399.

Wilson, J A J 2020 Understanding branding is demanding... Journal of Marketing Management. Oct, Vol. 36 Issue 13/14, p1178-1189