Credit Points: 15

Prerequisite: BK210 Market Research

Co-requisite: N/A

Workload: 36 contact hours

Campus: Melbourne, Sydney

Aims & Objectives

This is a third-year Core Unit in the Bachelor of Business major in Marketing, and offered as an elective unit in the Bachelor of Business major in Management.  For Course Learning Outcomes and further information relating to Bachelor of Business programs please visit our website: http://www.mit.edu.au/study-with-us/programs/bachelor-business.

Strategic marketing is embedded within the field of marketing, but has a distinct focus on planning for the future– to be truly successful in today’s fast-paced business environment marketers must have a view to the future and develop appropriate strategies to take advantage of the dynamics predicated by this future. Strategic marketing’s crucial role in business performance is demonstrated in the market driven strategies of successful organizations competing in a wide variety of industries and markets. The increasing importance of superior customer value, leveraging distinctive capabilities, responding rapidly to diversity and change in the marketplace, creating new products, and recognizing global business challenges require effective marketing strategies for gaining and sustaining a competitive advantage. This subject explores the essential concepts and processes within this fascinating field of marketing.

Unit topics include:

  • Understanding Marketing Strategy
  • Collecting and Analysing Marketing Information
  • Customers, Segmentation and Target Marketing
  • Marketing strategy application to the marketing mix
  • Marketing Implementation and Control
  • Developing and Maintaining Long-term Customer Relationships

Learning Outcomes

At the completion of this unit students should be able to:

  1. Analyse the key principles of strategic marketing in contemporary business environment

  2. Review problems in relation to strategic marketing and be aware of strategies to investigate them.

  3. Evaluate strategic tools, concepts and theories and understand the complexities associated with the application of these in marketing practice.

  4. Apply marketing theory in business settings and broader social contexts with intellectual curiosity.

  5. Devise a complete strategic marketing plan by applying key learning to a company’s strategic (marketing) efforts through detailed exploration       

These Unit Learning Outcomes are mapped onto AQF Level 7


Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour

Assessment

Assessment Task
Learning Outcomes Assessed
Weighting
Contribution in class a-e* 10%
Peer feedback on the draft strategic
marketing plan (Group)
a-e* 5%
Strategic Marketing Plan (Group) a-e* 25%
Strategic Marketing Plan Presentation (Group) a-e* 10%
Final Examination a-e* 50%
Total   100%

*refer to learning outcomes above.

Textbook

Note: Students are required to purchase the prescribed text book and have it available each week in class.

Prescribed Text Book:

Ferrell, O. & Hartline,M. (2014). Marketing Strategy (6th ed.). Australia: Cengage Learning.


Reference Reading

Other recommended references:

  • McDonald, M. & Wilson, H. (2016). Marketing Plans: How to prepare them, how to profit from them (8th ed.). USA: Wiley Publications.
  • Reed, P. (2015). Strategic Marketing: Decision Making and Planning (4th ed.). Australia: Cengage Learning Australia.
  • Kotler, B., Deans, B. & Armstrong, L. (2013) Marketing (9th ed.). Australia: Pearson.

Adopted Reference Style: APA can be found in MIT library referencing  

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving  Cultural and Global Awareness Team work Specialist knowledge of a field of study
             

Legend

Colour coding    

Extent covered

                                The standard  is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations
  The standard is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations
  The standard is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations 
  The standard is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by  activities such as lectures or tutorials
  The standard  is not considered, there is no theory or practice or activities associated with this standard