MARKETS - 2020/1

Module code: MANM453

Module Overview

To be competitive in today's increasingly difficult and digital markets it is vital for companies to identify market opportunities and challenges and react accordingly. Companies need to understand market dynamics and develop strategies to compete in the right markets in optimal ways.

This module provides the foundations for doing just that by introducing students to the micro- and macro- economic theory that underpins our understanding of markets and to strategy as the long-term direction of an organisation. It further investigates how business strategies are formed and how they are implemented and develops the conceptual, analytical, and practical skills for students to be able to contribute ot the strategic process.

The module makes the critical connection between Business and Marketing Strategy. It provides students with a thorough grounding in marketing theory and ways to gather and analyse data necessary to understand markets, customers and competitors and to evaluate the effectiveness of marketing activities. Students learn to deploy marketing instruments to develop, communicate and deliver superior value propositions in B2B and B2C settings.

Module provider

Surrey Business School

Module Leader

KREUZBAUER Robert (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code:

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None.

Module content

Indicative content includes:


  • Understanding markets: micro- and macro-economic foundations

  • Industry attractiveness, industry value chain and industry lifecycle

  • Internal business resources, capabilities, and core competencies

  • Strategic planning process and strategy cycle

  • Business models and generic business strategy

  • Consumer behaviour and segmentation

  • Creating value propositions

  • Price, sales, channel and communication decisions

  • Process and customer contact point decisions: customer participation, process management, capacity and demand management

  • Marketing metrics: market share, margins and profit, customer lifetime value


Assessment pattern

Assessment type Unit of assessment Weighting
Coursework COURSEWORK (GROUP): BUSINESS SIMULATION REPORT (3,000) 50
Oral exam or presentation PRESENTATION (INDIVIDUAL): POSTER PRESENTATION (15 MIN) 50

Alternative Assessment

COURSEWORK (INDIVIDUAL) - 50% PRESENTATION (INDIVIDUAL) - 50%

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate advanced understanding of the subject matter and mastery of the learning outcomes through practical application.

The first element of assessment is based on the integrative collaborative project that students engage in during the guided group project work sessions (a business simulation) and showcases students' subject-specific knowledge and cognitive skills as well as their practical ability to apply their learning to complex problems and tasks in the relevant domain of professional practice.

At the end of the module students submit a group report on the business simulation, which counts for 50% of the total mark for the module.

The other element of assessment is a poster presentation based on  a marketing brief or case study and counts for the other 50% of the total module mark.

The two elements of assessment are thus designed to complement each other to ensure that students are assessed on different knowledge and skill sets.

Thus, the summative assessment for this module consists of:


  • Group poster presentation (15 minutes)

  • Group report based on business simulation (3,000 words)



In the event that any student would not be able to complete the group report they will be given an alternative assessment in the form of:


  • Individual presentation (15 minutes)

  • Students who may need to re-sit the group element of assessment will submit of piece of individual coursework (3,000) words similar to the content of the group presentation and worth 60% of total marks.



Formative assessment

Formative feedback is offered on an ongoing basis during seminars/group discussions, active earning sessions and project tutorials, which may be done face-to-face or online (synchronously).

 

Feedback

Summative feedback is provided in writing, separately for each of the elements of assessment.

Module aims

  • Introduce a range of management, micro and macro economics issues pertinent to understanding how different elements of a business fit together to create a coherent organisation and an effective strategy.
  • Equip students with a sound understanding of the process of strategic management and the different components of the strategy development cycle.
  • Provide students with a rigorous foundation and tools for analysis and understanding the core decisions that have to be made in MArketing.
  • Enable students to integrate theoretical concepts and models in Strategy and Marketing with practical application to business situations.

Learning outcomes

Attributes Developed Ref
001 Demonstrate an advanced understanding of the underpinning principles of strategic management and relevant theoretical frameworks CKP
002 Appraise and apply the different theories of strategic management, microeconomics and macroeconomics relevant to the design of business strategy KCP
003 Demonstrate knowledge and understanding of the scope and character of marketing within increasingly dynamic and digital market contexts. KP
004 Demonstrate a critical understanding of social and ethical issues relating to marketing procedures and practices KP
005 Apply Marketing management concepts and models for creating value KCP
006 Demonstrate decision-making skills in relation to designing corporate and marketing strategy, as well as designing and evaluating marketing activities PT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 77

Methods of Teaching / Learning

The learning and teaching strategy is designed to combine research-informed academic content with applied learning through project work.

Learning and teaching follows a student-focused, experiential, flipped-classroom methodology with online elements.

It comprises lectures, seminars, group discussions, study trips and assignment tutorials. It also includes active and self-directed learning - both group and individual.

Prior to attending the lecture and seminar, students are expected to undertake the essential reading and complete any set work for the sessions.

Active learning is supported by engagement with practice through group project work, study trip and invited guest speakers.

Assignment tutorials are there to provide formative feedback in preparation for the assessment.

The learning and teaching methods include:


  • Lectures are mainly designed to illustrate and explain theoretical concepts and models.

  • Seminars/group discussions redesigned to develop a more practical insight into the applied nature of the various topics covered: they help explore the theoretical concepts and models by reference to a range of topical issues and case studies.

  • Active learning includes engaging in  classroom practical exercises, video and case analyses, and group project work.

  • Active learning through online study (synchronous and asynchronous);

  • Self-directed learning pertains to engaging with learning materials and undertaking desk-research required for classroom participation and assessment.

  • Study trips and designed to allow students the opportunity to observe the phenomena they study in practice and engage with the relevant practice and practitioners in their own setting and context.

  • Assignment tutorials support students in their project work through systematic review of progress, discussion and formative feedback from an academic tutor. These may be run face-t-face or online (synchronously).


Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

Reading list for MARKETS : http://aspire.surrey.ac.uk/modules/manm453

Other information

None.

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Management MSc 1 Compulsory A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2020/1 academic year.