MKTG100 Marketing: Creating and Capturing Customer Value
Teaching organisation12 weeks or equivalent.
Unit description and aim
All organisations need to be able to evaluate, analyse and respond to external forces. Key amongst the environments within which organisations operate are the legal/political, economic and consumer environments. In this unit, students will develop the required knowledge effective managers need for analysing the challenges of the changing external environment by learning strategies to support effective decision-making in Marketing, Statistics, Business Law and Economics.
The knowledge students develop in this unit will enable them to analyse the potential risks and opportunities of doing business in competitive consumer and business markets. Students will achieve this by developing an understanding of the legislative and economic frameworks relevant to business with a particular emphasis on consumer and business law perspectives. Taking this knowledge students will apply it to the outwardly focused management function of marketing.
The aim of this unit is to enhance students’ knowledge of the external environments in which organisations operate, to develop basic statistical skills, to analyse trends in these environments and apply this knowledge to activities relevant to the marketing function.
On successful completion of this unit, students should be able to:
LO1 - Identify the impact of the key regulatory and economic dimensions in the organisation’s macro environment. (GA5)
LO2 - Identify the core marketing models and concepts for sustainable business and social outcomes (GA2, GA5)
LO3 - Compare different statistical techniques to inform marketing decisions (GA5, GA8)
LO4 - Show knowledge of communication theory and information literacies by applying relevant knowledge, skills and judgement for business and academic audiences (GA5, GA9).
GA2 - recognise their responsibility to the common good, the environment and society
GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession
GA8 - locate, organise, analyse, synthesise and evaluate information
GA9 - demonstrate effective communication in oral and written English language and visual media
Topics will include:
- fundamentals of business law in the Australian context
- key models of economic and Australian economic institutions
- types of competition
- introduction to marketing and the consumer orientation
- the marketing mix
- segmentation, targeting and positioning
- marketing research
- descriptive statistics and their application in business decisions
- approaches to data presentation to enhance understanding of statistical outcomes
- Communicating effectively in a variety of settings and organisational contexts
Learning and teaching strategy and rationale
This unit takes an active learning approach to guide students in the analysis and synthesis of knowledge associated with the interaction of external environments on organizational business functions. Students are able to explore the knowledge base underpinning markets, economics business law and basic statistics in a series of on campus workshops. These workshops allow students to actively acquire knowledge both individually and collaboratively. Students will systematically develop their understanding of the impact of changes in the macro and micro (market/industry) environments on the organisation’s marketing (and other) operations. Students will acquire economic legal, regulatory, marketing and statistical knowledge useful in analysing business actions in the marketplace. In doing so verbal and non-verbal communication skills are developed.
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.
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.
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.
This unit uses an active learning approach to support students in the exploration of the essential knowledge associated with managing money. Students can explore the essential knowledge underpinning this unit and develop knowledge in a series of online interactive lessons and modules. 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
To pass this unit, students are required to complete and submit three graded assessment tasks and achieve an aggregate mark of at least 50%. Marking will be in accordance with rubrics specifically developed to measure levels of achievement of the learning outcomes for each assessment item.
Students will also be required to undertake a hurdle task to demonstrate mastery of the basic maths skills required to undertake fundamental business quantitative analysis.
The assessment strategy for this Unit allows students to demonstrate mastery and understanding of important economic and legal concepts, apply knowledge of key marketing concepts and models to the analysis of a real-world situation and to interpret and integrate basic statistical skills into business decision making. The descriptive knowledge acquired will be demonstrated in Assessment one, while analytical skills will be demonstrated in Assessment two. Interpretive skills will be demonstrated in Assessment three. The same assessment strategy applies to all modes of delivery.
Overview of assessments
|Brief Description of Kind and Purpose of Assessment Tasks||Weighting||Learning Outcomes||Graduate Attributes|
Hurdle assessment: Students will demonstrate an understanding of basic mathematical skills by undertaking an online test which covers the fundamentals required for basic quantitative business analysis
Submission Type: Individual
Assessment Method: Online Test
Artefact: Auto generated mark from test
Assessment 1: Concept Map
This first assessment requires students to develop a concept map of the key economic and regulatory forces impacting on a business. Students will choose one key economic issue and three regulations (one from each level of government) identified in the map and communicate how these impact on their business.
Submission Type: Individual
Assessment Method: Concept Map / Written explanation
Artefact: Concept Map
Assessment 2: Video Presentation
This assessment requires students to record and upload a short video marketing pitch for their business which demonstrates their understand and application of the key marketing concepts and models relevant to starting a business.
Submission Type: Individual
Assessment Method: Video Presentation
Artefact: Video presentation
GA2, GA5, GA9
Assessment 3: Report
This assessment requires students to create a market analysis business report. Students apply descriptive statistical skills to a provided data set to analyse the data in order to support their marketing decisions.
Submission Type: Individual
Assessment Method: Report (2000 words)
Artefact: Written report
GA5, GA8, GA9
Representative texts and references
Baye, MR 2017, Managerial economics and business strategy, McGraw Hill, New York.
Croucher, J 2016. Introductory mathematics and statistics, McGraw Hill, North Ryde.
Elliot, G, Rundle-Thiele, S, Smith, S, Waller, D, Eades, L & Bentrott, I. 2018, Marketing, 4th edn, John Wiley and Sons, Milton.
Jaggia, S, Kelly, A, Salzman, S, Olaru, D, Sriananthakumar, S, Beg, R & Leighton, C 2020, Essentials of Business Statistics: Communicating with Numbers, McGraw Hill Education, North Ryde.
Kolter, P & Keller, K 2016, Marketing management, global edn, Pearson Higher Ed, New York.
Layton, A, Robinson, T & Tucker, IB 2018, Economics for today 5th Asia Pacific edn, Cengage, South Melbourne.