Module Information

Module Identifier
MMM7320
Module Title
Markets Consumption and Strategy
Academic Year
2015/2016
Co-ordinator
Semester
Semester 1
External Examiners
  • Dr Robert J Cluley (Assistant Professor - Nottingham University)
 
Other Staff

Course Delivery

Delivery Type Delivery length / details
Practical 11 x 2 Hour Practicals
Workshop 11 x 2 Hour Workshops
Lecture 11 x 2 Hour Lectures
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment 2,000 word group project  20%
Semester Assessment 1 hour in class test  20%
Semester Exam 3 Hours   60%
Supplementary Assessment Repeat failed elements or equivalent  20%
Supplementary Assessment Repeat failed elements or equivalent  20%
Supplementary Exam 3 Hours   Repeat failed elements or equivalent  60%

Learning Outcomes

On successful completion of this module students should be able to:

Mastery of content to understand and explain macro and microeconomic principles

Mastery of content to make relevant decisions related to markets and market conditions

Mastery of content related to the role and impact of governments and markets on firms decision makers

Mastery of content related to the managerial impacts of market structure

Mastery of the role of marketing management in firms and advise accordingly

Mastery of content to make strategic marketing decisions based on marketing information

Mastery of content to advise on value development and delivery to consumers

Be able to find, generate and use market information to make strategic marketing decisions

Mastery of content to make decisions relevant to relationships, value chains and networks

Mastery of content to make strategic business decisions based on competition

Brief description

The purpose of the module is to give students general insights related to economic and marketing disciplines. From here develop an understanding of strategic business based on markets and competition. Therefore enabling future managers to make informed strategic decisions based on sound market and resource understandings. By understanding markets and competition through the economics base and the ability of the firm through the marketing base students will have a sound understanding and competency in strategic business movements.
The economics component of the subject is based around markets, competition giving students a theoretical understanding of the broader environment that business will operate in. This will encompass a broad view of macro and microeconomics. The areas of supply and demand, market structures, competition, government intervention, game theory, principle agent theory will all be examined. From these areas specifics such as price and price elasticity for example will be canvassed, which enhances students ability to then understand marketing.
The marketing component of the module will move from the understandings of markets into the firm’s abilities within these markets, through marketing management functions. Via the understanding of areas such supply and demand and prices students will be educated about the functions of marketing management to take advantage of market conditions. Central to this is the understanding of products (goods and services) consumer behavior, market orientation, the marketing mix, relationship marketing (and networks), market segmentation and marketing strategy.
The third component of the course is business strategy. Here an interdisciplinary approach based strongly on understandings of economics and marketing will be used to develop understanding and competency of students strategic business decision making.

Content

Topic 1: markets, supply and demand, production;
Topic 2: alternative market structures and market failure;
Topic 3: governments and economic interventions;
Topic 3: Game theory and principle agent theory;
Topic4: marketing and market orientation;
Topic 5: consumer behavior and business marketing;
Topic 6: marketing management (and marketing mix);
Topic 7: market segmentation and strategy;
Topic 8: relationship marketing, networks and value chains;
Topic 9: competitive analysis;
Topic 10: strategic business decision making.

Module Skills

Skills Type Skills details
Application of Number Through the quantitative areas integrated throughout the entire module.
Communication Oral communication will be developed through class participation and group work. Written communication will be developed through case preparation, assessment preparation, note taking and information based dialogue.
Improving own Learning and Performance Through both class and self-directed learning.
Information Technology Basic of data analysis will be done using excel
Personal Development and Career planning Development of skills, theory and analysis capabilities to allow effective management decisions.
Problem solving Identification of business issues related to marks and marketing functions. Identification of the relevant information for decisions and formulation of decisions.
Research skills Qualitative methods, survey methods and basic preparation and analysis.
Subject Specific Skills Economic theoretical understanding Marketing theoretical and applications Competition based strategy Qualitative and survey methods
Team work Through class preparation, the use of breakout group work, case preparation and through the group assessment.

Notes

This module is at CQFW Level 7