MKTG314 - Managing Products and Brands in the Competitive Marketplace

Year

Credit points

Campus offering

Prerequisites

MKTG207 Marketing Toolkit

Teaching organisation

Unit rationale, description and aim

This unit provides a detailed description and accompanying analysis of the major marketing tasks undertaken by marketers in the area of product and brand management. Topics covered include new product development processes, product planning, product strategy, products positioning, product costing, profitability, branding, packaging and product lifecycle. Students are provided with a theoretical understanding of key product and branding concepts and issues, followed by a practical description of the tasks performed by product and brand managers. Illustrations are provided through applied examples and case studies. Ethical and corporate social responsibility issues are also discussed in relation to product and branding design, and with the implementation of product and branding strategies.

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 - Understand the key theories and concepts underlying product issues in the marketing mix (GA3, GA4, GA5, GA8)

LO2 - Analyse the central role which product contributes to marketing strategy and tactics (GA4, GA5, GA6, GA8)

LO3 - Evaluate the role of brand building and equity maintenance in product management (GA3, GA4, GA5, GA6, GA8)

LO4 - Utilize the business tools and marketing metrics available to support product managers (GA4, GA5, GA6, GA8)

LO5 - Understand the possible ethical issues and corporate social responsibilities facing product and brand managers (GA3, GA4, GA5, GA6)

Graduate attributes

GA3 - apply ethical perspectives in informed decision making

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:

• Product Management and Market Planning
• Product Category Analysis and Business Tools
• Competitor Analysis
• Customer Analysis
• Market Potential
• New Product Development and Strategy Formulation
• Branding and Packaging
• Pricing the Product
• Communicating the Product
• Delivering the Product
• Financial Analysis and Profitability
• Marketing Metrics for Product Performance

Learning and teaching strategy and rationale

This unit adopts active, case study, problem-based and experiential learning approaches simultaneously to help students in acquiring and integration of knowledge and skills related to evaluating the models and techniques of product and brand management. Students will be able to learn the application of theories and concepts underpinning product and brand management in a series of workshops along with the materials (videos, texts, exercises, and cases) provided through the online learning platform. Each workshop includes mini-seminars focusing on the core theories followed by practical exercises. Through this blended mode of delivery, students will be able to develop and accumulate knowledge and comprehension of product and brand management processes that can impact overall business performance. 

Mode of delivery: This unit is offered in different modes. These are: “Attendance” mode, “Blended” mode and “Online” mode. This unit is offered in three 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 a weekly 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 you 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 are given the opportunity to attend facilitated synchronous online seminar classes with other students and participate in the construction and synthesis of knowledge, while developing their knowledge. Students are required to participate in a series of online interactive workshops which include activities, knowledge checks, discussion and interactive sessions. This approach allows flexibility for students and facilitates learning and participation for students with a preference for virtual learning.

Assessment strategy and rationale

The assessment strategy for this unit helps students develop their knowledge of product and brand management to the point where they can explain and evaluate specific aspects of product and brand management, from the starting point of new product development through to the implementation of product and branding strategies in the marketplace. This unit will assess student’s knowledge of the theories, concepts, methods and analytical techniques covered in the unit. Students will present their knowledge of theories associated with product and brand management in assessment that examines and evaluates product development and product management in relation to an assigned organization. Students further advance their knowledge and comprehension of the application of product and brand management theories and concepts by examining a brand of their choice in relation to the concepts of brand equity, brand resonance and brand asset evaluation. 

Assessment one and two are the same regardless of whether teaching mode is attendance, blended, or online. Assessment three is the same for attendance and blended modes, but changes for online mode. This is indicated in overview of assessment table below. Both methods assess the same learning outcomes.

Overview of assessments

Representative texts and references

Balmer J M T, Illia L & del Valle Brena A, (2013), Corporate Marketing: Contemporary Perspectives on Corporate Branding, Marketing and Communications, Routledge, London.

Bonfield, R, Eriksson, M, (2017) Product Leadership, O’Reilly Media, California

Crawford, C. Di Benedetto, C. (2015) New Product Management, 11th Edition, McGraw Hill, USA

Fill C & Roper S, (2012), Corporate Reputation, Brand and Communication, Financial Times Press, London.

Ind N & Iglesias O, (2016), Brand Desire: How to Create Consumer Involvement and Inspiration, Bloomsbury Press, United Kingdom.

Keller, K. (2012) Strategic Brand Management: Building, Measuring and Managing Brand Equity, 4th International Edition. Pearson, United States

Lawley, B, Schure, P, (2017) Product Management for Dummies, Wiley, New Jersey

Osterwalder, A, Pigneur, Y, Bernarda, G, Smith, A (2014) Value Proposition Design: How to Create Products and Services Customers Want, Wiley, New Jersey

Rosenbaum-Elliott, R, Percy, L and Pervan, S (2015), Strategic Brand Management, 3rd edn, Oxford University Press, United States.

Schhaeffer, E, Sovie, D, (2019) Reinventing the Product – How To Transform Your Business and Create Value in the Digital Age, Kogan Page, London

Journal of Product & Brand Management

Journal of Brand Management

Journal of Product Innovation Management