Students
MKTG303 – Marketing Strategy
2014 – S2 Day
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
David Gray
Contact via david.gray@mq.edu.au
Building E4A, Room 628
Monday 1-2pm
Tutor
Brenton Price
Contact via brenton.price@mq.edu.au
by appointment
Tutor
Lawrence Potter
Contact via lawrence.potter@mq.edu.au
By appointment
Tutor
John Edwards
Contact via john.edwards@mq.edu.au
by appointment
Tutor
Wayne Kingston
Contact via wayne.kingston@mq.edu.au
by appointment
Brenton Price
|
|---|---|
| Credit points |
Credit points
3
|
| Prerequisites |
Prerequisites
MKTG202 and MKTG203 and (ACCG100 or ACCG105 or ACCG106 or MMCS105) and (BBA103 or ECON110 or ECON111 or admission to BMktgMedia) and 6cp in MKTG units at 300 level
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
The overall objectives of this unit are to introduce methods of strategic thinking and a set of practical tools and concepts that will enable students to develop, evaluate and implement innovative marketing strategies; and to provide theories, frameworks and examples relating to the management of critical aspects of strategic marketing activity. The focus is on a customer-oriented approach to the marketing organisation, market definition, and market segmentation; as well as an entrepreneurial approach to strategic choice. Throughout the unit the emphasis is on the analysis process: identifying information needs, acquiring the necessary information, interpreting it, and using it as the basis for business recommendations. During this unit students will engage in a marketing strategy simulation game and will have the opportunity of making a series of complex, real-world marketing decisions. It places teams in a dynamic competitive environment in which they devise and pursue their own strategies and react to the moves of competitors.
|
Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| A1: Case Study | 35% | 13/10/2014 |
| A2: Reflective Journal | 35% | As per class schedule |
| A3: Simulation Game | 30% | See class schedule |
A1: Case Study
Due: 13/10/2014
Weighting: 35%
A1: Case Study
Submission
Each student to individually complete one (1) case study during the semester. The case study is worth a maximum of 35%.
Assessment (A1)- Case Due- 13 October by 11.59pm via Turnitin. The case is : Astor Lodge & Suites, Inc (35%) – To be found in Kerin & Peterson page 338
Criteria
As per the assessment guidelines on iLearn website
Penalty
No extensions will be granted. Late tasks will be accepted up to 72 hours after the submission deadline. There will be a deduction of 20% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 40% penalty). This penalty does not apply for cases in which an application for disruption to studies is made and approved.
Case Study Length:
Maximum length 20 pages excluding appendices, cover page and table of contents for each case study
On successful completion you will be able to:
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
A2: Reflective Journal
Due: As per class schedule
Weighting: 35%
Submission
Reflective writing enables the documentation of experiences, thoughts, questions, ideas and conclusions that signpost your learning journey. During the Blue Ocean Strategy Simulation all students are required to keep a private reflective journal of their activities and thoughts after each round of the game.
- Submit Red Round and Blue 1 by by Saturday 18 October and submitted via Turnitin
- Submit Blue Round 2-3 by by Saturday November 1 and submitted via Turnitin
- Submit Final A3 Assessment Blue Ocean Final Combined Reflective Journal (35%) Due by 3 November by 11.59pm via Turnitin
Criteria
As per the assessment guidelines on iLearn website.
Penalty
No extensions will be granted. Late tasks will be accepted up to 72 hours after the submission deadline. There will be a deduction of 20% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 40% penalty). This penalty does not apply for cases in which an application for disruption to studies is made and approved.
Non submission of the two interim journals (i.e. Red Round -Blue Round 1; Blue Rounds 2-3) without prior approval in writing will be subject to a penalty of 40% of the final mark (i.e. 20% for each non submission). Maximum length of final reflective journal 30 pages.
On successful completion you will be able to:
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
A3: Simulation Game
Due: See class schedule
Weighting: 30%
Submission:
The Blue Ocean Marketing Strategy simulation is an online game which requires teams to make a series of complex, real world marketing decisions over a simulated period of 9 years. It places teams in a dynamic competitive environment in which they must devise and pursue their own strategies and react to the moves of competitors. Submissions made via BOSS web site.
Marking Criteria
The 30% assessment will be based on your final team Share Price Index (SPI) at the end of Blue Round 3. Individual marks for each student will be subjected to peer review by group members. Peer review scores will be averaged and used to adjust raw group marks. Group marks will be based on a ranking of all teams in the unit unless modified by the peer review process.
On successful completion you will be able to:
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
Delivery and Resources
Classes
- This unit in Semester 2 is taught as one 2 hour lecture per week plus a 2 hour seminar every two weeks: That is, there are 13 lectures plus 6 x 2 hour seminar.
- The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
- Seminar class size will be limited to 25. All classes to be held on a Monday
- Students are required to at least 11 of the 13 lectures and at least 5 of the 6 seminars seminars – failure to do so will lead to major deduction from your group-work Once the seminar groups are formed, students cannot change their classes. Attendance will be taken in seminar class.
- Medical certificates must be provided if you are not able to attend a class without incurring a penalty.
- Students are expected to arrive on time, and not to leave until the class ends.
- If you have a recurring problem that makes you late, or forces you to leave early, have the courtesy to discuss this with your lecturer/tutor.
- Students must be quiet during classes, unless of course when class participation is required.
- Mobile phone must be turned OFF and not simply set to ‘silent’.
- All laptops must be turned OFF in class.
- Students who disturb or disrupt in class sessions will be asked to leave.
- All students have to complete one peer assessment for the Blue Ocean Strategy Simulation (BOSS).
- The lecturer has the final say in the adjustment of group-work marks taking into account peer assessment ratings.
Prescribed texts:
Strategic Marketing Problems: International Edition (13e) By Kerin, Peterson* Published 11/10/2012; ISBN 9780273768944
Strategic Marketing Problems eBook: International Edition (13e) By Kerin/ Peterson Published 11/10/2012 ISBN 9780273775690
Kim, W. and Mauborgne, R. 2005, Blue Ocean Strategy, McGraw Hill
The lecture stream follows the chapters and case studies Kerin and Peterson (2013) text. It will be assumed that you will have read the chapters assigned each week prior to attending lectures.
The seminar stream and Blue Ocean Strategy Simulation are taken directly from this Kim et al. (2005) text. It will be assumed that you will have read the chapters assigned each week prior to attending tutorials.
Prescribed unit materials: Online Student Guides for the Blue Ocean Strategy Simulation .
Recommended supplementary texts:
- Hooley, G., Piercy, N., Nicoulaud, B. 2012, Marketing Strategy and Competitive Positioning, 5th Ed., Prentice Hall.
- Cravens, D. and Piercy, N. 2012, Strategic Marketing, 10th Ed., McGraw Hill.
- Mullins J., Walker O., Boyd H., and Larréché J.-C., 2006 Marketing Management: A Strategic Decision-Making
Technology Used and Required
- Students are required to learn how to use power point, word processing, iLearn and the Blue Ocean Strategy Simulation Game. N o recording devices are to be used by students to record lecture notes without the permission of the lecturer.
- Technology used and required (e.g., access to a personal computer is required in order to complete tasks on iLearn)
Teaching and Learning Strategy
- The unit is taught by lectures and seminar activities with group discussions.
- There will be a lecture Monday 9-11 am that will be used to present new concepts and tools that will contribute to students’ understanding of the subject area and assist you to complete assessment tasks.
- The 2 hour seminars will be interactive and will use real life examples where possible. In order to prepare for these seminars and lectures students are required to complete the chapter reading in the textbook in advance. These readings are set out in the week-by-week timetable that can be found in this outline.
Unit web page
The web page for this unit can be found at: iLearn http://ilearn.mq.edu.au
What is required to pass this unit satisfactorily
In order to pass this Course, students must attain an overall composite pass mark of at least 50%.
Unit Schedule
|
Week |
Week Begin |
Lecture Topic |
Seminar/Assessment |
|
|
|
1 |
4 August |
Introduction to Marketing Strategy- Kerin & Peterson Ch. 1 |
No Seminars |
|
|
|
2 |
11 August |
Profitability and Financial Management
Kerin & Peterson Ch. 2 |
Seminar 1
|
|
|
|
3 |
18 August |
|
|
||
|
4 |
25 August |
|
Seminar 2
|
|
|
|
5 |
1 September |
|
|
||
|
6 |
8 September |
|
Seminar 3
|
|
|
|
7 |
15 September |
Marketing Channels and Supply Chain Strategy & Management Kerin & Peterson Ch. 7 |
|
||
|
MID SEMESTER BREAK 20 September - 6 October 2014 |
|
||||
|
8 |
6 October |
Pricing Strategy and Management Kerin & Peterson Ch. 8 |
Seminar 4
|
|
|
|
9 |
13 October |
|
|
||
|
10 |
20 October |
Global Marketing Strategy and Management
Kerin & Peterson Ch. 10 |
Seminar 5
|
||
|
11 |
27 October |
Marketing Strategy Reformulation: The control Process Kerin & Peterson Ch. 9
Executing Blue Ocean Strategy Kim and Mauborgne (2005) Chapters 7,8,9 |
|||
|
12 |
3 November |
Corporate Social Responsibility Hooley Ch 18 |
Seminar 6
Submit A3 Assessment Blue Ocean Final Combined Reflective Journal (35%) Due by 3 November by 11.59pm via Turnitin
|
||
|
13 |
10 November |
Course Summary and Review
|
|||
Learning and Teaching Activities
Seminar
Simulation activities
Workshop Activities
Personal Reading
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
IT Help
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
Graduate Capabilities
Discipline Specific Knowledge and Skills
Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.
This graduate capability is supported by:
Learning outcomes
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
Assessment tasks
- A1: Case Study
- A2: Reflective Journal
- A3: Simulation Game
Learning and teaching activities
- Lecturers and tutorials combined from staff
- Participation in the decision-making aspects re the development of a Blue Ocean strategy over 9 periods
- Reading through journal articles, textbooks and online resources
Critical, Analytical and Integrative Thinking
We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.
This graduate capability is supported by:
Learning outcomes
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
Assessment tasks
- A1: Case Study
- A2: Reflective Journal
- A3: Simulation Game
Learning and teaching activities
- Lecturers and tutorials combined from staff
- Participation in the decision-making aspects re the development of a Blue Ocean strategy over 9 periods
- Reading through journal articles, textbooks and online resources
Problem Solving and Research Capability
Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.
This graduate capability is supported by:
Assessment tasks
- A1: Case Study
- A3: Simulation Game
Learning and teaching activities
- Lecturers and tutorials combined from staff
- Participation in the decision-making aspects re the development of a Blue Ocean strategy over 9 periods
- Reading through journal articles, textbooks and online resources
Effective Communication
We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.
This graduate capability is supported by:
Learning outcomes
- Understand the firm’s relation to its business environment of customers, competitors, collaborators, and other external forces
- Assess marketing strategies from the standpoint of growth, market share, and profitability; and within the context of the market environment;
- Develop an understanding of marketing strategy options to maximize a company’s chances of achieving a sustainable competitive advantage;
- Critically examine problem areas, develop feasible marketing investment decision options, develop key recommendations, and communicate this strategic thinking to others.
Assessment task
- A2: Reflective Journal
Changes from Previous Offering
Research and Practice
This unit uses research from external sources and Macquarie University researchers as listed in the references lists on iLearn.
Additional References Aaker, D., Mills, M. 2005, Strategic Market Management Pacific Rim Edition, Wiley and Sons
Davis, J and DeVinney, T (1997), Essence of Corporate Strategy, Sydney: Allen & Unwin.
Grant, R. M. (2002) Contemporary Strategy Analysis: Concept, Techniques, Applications. (4th Edition). Blackwell Publishing
Guiltinan, J., Paul, G.W., Madden, T.J. 1997, Marketing Management: Strategies and Programs 6th Edition, McGraw–Hall, USA
Hamel, G. (2000), Leading the Revolution, Boston: Harvard Business School Press
Jain, S.C. 2004, Marketing: Planning and Strategy, 7th Edition,
Thomson Kotler, P., Kevin Lane Keller 2006, Marketing Management, 12th Edition, Prentice Hall.
Lambin, J (1997), Strategic Marketing Management, London: McGraw-Hill
Lehman, D., Winer, R. Analysis for Marketing Planning 5th Edition, McGraw-Hill, USA, 1997.
Markides, C. (1999), All the right moves: A guide to crafting breakthrough strategy, Boston: Harvard Business School Press
Walker, O.C., Mullins, J.W., Boyd, H.W. Larreche, J.C. 2006, Marketing Strategy-A Decision-Focused Approach, Fourth Edition, Irwin McGraw–Hill Irwin
Whitwell, G., Lukas, B., Doyle, P. 2003, Marketing Management: A Strategic, Value based Approach, Milton, QLD: John Wiley & Sons.
Achrol, Ravi S. (1991), “Evolution of the Marketing Organization: New forms for Turbulent Environments,” Journal of Marketing, 55, (October), 77-93.
Ailawadi, Kusum L., Donald R. Lehmann, and Scott A. Neslin (2001), “Market Response to a Major Change in the Marketing Mix: Learning from Proctor and Gamble’s Value Pricing Strategy,” Journal of Marketing, 65 (January), 44-61.
Bayus, Barry, “Are Product Life Cycles Really Getting Shorter?” (1994), Journal of Product Innovation Management, 11, 300-308.
Day, George, Allan Shocker, and Rajendra Srivastava (1979), “Customer-Oriented Approaches to Identifying Product Markets,” Journal of Marketing, Fall, 8-19.
Day, G.S. 1999, “Creating a Market Driven Organisation”, Sloan Management Review, Fall , 11-21.
Day, G.S. 2000, “Managing Market Relationships”, Journal of the Academy of Marketing Science, 28(1), 24-30.
Dickson, Peter R. (1992), "Toward a General Theory of Competitive Rationality," Journal of Marketing, 56 (January), 69-83.
Glazer, Rashi (1991) “Marketing in an Information-Intensive Environment: Strategic Implications of Knowledge as an Asset,” Journal of Marketing, 55 (October), 1-19.
Hamel, Gary and C. K. Prahalad (1991), ‘Corporate Imagination and Expeditionary Marketing,” Harvard Business Review, (July-August), 81-92.
Hunt, S.D., Morgan, R.M. 1995, “The comparative advantage theory of competition,” Journal of Marketing, 59(2), 1-15
Kohli, A.K., Jaworski, B.J. 1990, “Market Orientation: The construct, research propositions, and managerial implications”, Journal of Marketing; New York, 54,(2), 1-18. Kohli, A.K., Jaworski, B.J. 1993, “Market orientation: Antecedents and consequences”, Journal of Marketing, 57, (3), 53-81.
Lambkin, Mary and George Day (1989), “Evolutionary Processes in Competitive Markets: Beyond the Product Life Cycle,” Journal of Marketing, 53, 3 (July), 4-20.
Leeflang, Peter S. H. and Dick R. Wittink (2001), “Explaining Competitive Reaction Effects,” International Journal of Research in Marketing,” 18, 119-137.
Massy, Frank and Barton Weitz (1977) “A Normative Theory of Market Segmentation,” in Franco Nicosia and Yoram Wind, (eds.), Behavioral Models for Market Analysis: Foundations for Marketing Action, Hinsdale, Illinois:
Dryden. McKee Daryl, P. Varadarajan, and W. Pride (1989), “Strategic Adaptability and Firm Performance: A Market-Contingent Perspective,” Journal of Marketing, 53, (July), 21-35.
Porter, M. E. (Ed.) 1980 and 1998, Competitive Strategy: Techniques for Analysing Industries and Competitors, Free Press, New York.
Webster, F.E. 1992, “The changing role of marketing in the corporation”, Journal of Marketing, 56, (October), 1-17.
It will be assumed that you will have read the chapters assigned each week prior to attending lectures. The text covers some of the basic material and provides numerous examples. There will also be a small number of additional readings from other sources that will be provided to you via Blackboard.
Other journals and publications of interest include the following:
Journal of Marketing Australian Journal of Management
Journal of Marketing Research
Harvard Business Review
International Journal of Research in Marketing
Sloan Management Review
Journal of the Academy of Marketing Science
Business Horizons
Australasian Marketing Journal
Academy of Management Journal
Business Strategy Review
Journal of Management Studies
Marketing Intelligence and Planning
Academy of Management Review
Long Range Planning Strategic Management
Journal Industrial Marketing Management Organisation Studies
Journal of Business Research
Strategic Change
Marketing Management
Academy of Management Executive
European Journal of Marketing
Personnel Management
Other publications
Psychological Review
The Economist
California Management Review
Fortune
Journal of Change Management
Business Review Weekly
B&T Weekly
Australian Financial Review
The Australian
Sydney Morning Herald
Marketing Magazine