Marketing is the critical revenue generating business function that dictates the markets in which organisations operate. Marketing Managers play a critical role in shaping business strategy, as well as its implementation via an effective marketing mix development, which includes determining the most appropriate products / services to offer (Product), the channels of distribution and delivery (Place), the value proposition and pricing (Price), communications and advertising (Promotion), as well as the service delivery (People). Marketing therefore determines the organisations long-term success, or otherwise, which depends upon generating clear competitive advantage in the marketplace.
Marketing for Managers introduces key academic marketing concepts and theories, as well as practical understanding of the approaches and information that managers use to make inform marketing decisions. Dynamic, highly competitive and increasingly international market environments make strategic, tactical, and even daily marketing decisions both challenging and risky. This unit therefore imparts the knowledge and skills, including appreciation of appropriate market information, which Marketing Managers use to reduce risk and make informed marketing decisions that will provide the all-important competitive advantage.
The unit initially explains Marketing and decision making in the organisational context. It then relates Marketing in the context of dynamic and competitive markets, and emphasises the need for reliable market information to make effective marketing decisions. Essential knowledge of the marketing mix elements (People, Product, Place. Price, Promotion) is provided, including insights as to how Marketing Managers develop these. More advanced considerations relating to marketing strategy development are then considered. Throughout attention is paid to the typical information that guides the Marketing Managers' decisions.
