Fundamentals of Successful Marketing
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What this paper is about
This paper forms the introduction to marketing. Marketing forms a fundamental aspect of all business. It is the focal point of contact with customers – and customers are the one thing that any business, whether profit- or non-profit, small or large, cannot survive without. The most successful brands in the world, such as Louis Vuitton, LL Bean, Apple, Huawei, Sony, Amazon or Chemist Warehouse, are marketing companies at heart.
Although finance, accounting, HR, and many other disciplines increasingly rely on automated processes, AI, and robotics, marketing remains a uniquely human-driven process due to its need to understand the consumer and consumer markets, and to present creative solutions.
The activity of marketing involves understanding the needs of consumers and what type of solutions, usually in the form of products or services, would provide benefits to those consumers. In other words, marketing is about determining likely areas of value to specific consumer groups and planning for and creating value for those groups that become the brand's customers. A business that offers customers what they actually want and are happy to pay for will be a successful business.
This paper introduces the basic concepts and terminology that feed into all advanced marketing papers/courses, and which will be invaluable for all majors and papers/courses of study in business.
How this paper will be taught
The aim of this paper is to provide students will an understanding of the concepts and vocabulary involved in the implementation of marketing. The content for studying on this course are:
- A textbook: the textbook provides the basic knowledge and understanding required to pass the course. Reading and understanding the textbook in your own time is a vital component of studying on the course. This will provide you with in-depth explanations of concepts and introduce the vocabulary you require to take more advanced courses. Textbook knowledge is assessed through multiple-choice quizzes.
- Tutorial Exercises: there will be a number of tutorial exercises focused on the formal assessments used in the course. These are designed to enhance student understanding of the most important concepts. Tutorial work is assessed through the completion and submission of the exercises.
- Lectures and videos: the lectures for the course will summarise the important parts of the textbook, but also introduce other concepts and more applied knowledge required for the creation of assessment reports. Understanding of the lecture content is assessed through the quizzes, tutorial exercises and assignment reports.
Tutorials begin in Week 3 of the course. Sign-up for tutorials will be available on Moodle following the first lecture and slots will be allocated on a first-come, first-served basis. You should have two or three possible options from the list available. In cases where a particular tutorial slot proves unpopular and numbers are low, you may be required to move to an alternative time slot.
The number and maximum size of tutorials will be determined by the final number of students enrolled on the paper. Some of the time slots listed below may not be available.
Face-to-face and NET versions of this paper
This paper is a face-to-face paper with both in-class lectures and tutorials. Lecture participation is highly recommended as it is the primary opportunity to interact with the course instructor.
Participation in tutorials is assessed through exercise completion and participation and it is an important way to discuss ideas with your peers and tutors. Missing multiple tutorials without sufficient reason (see details below on extensions and special consideration), may directly affect your final grade.
We will accommodate athletes, students who may need to miss just a week or two of classes or students who become temporarily ill, by accepting work remotely.
Please note that there is a parallel edition of MRKTG101 that runs as a NET paper. The NET paper has the same content and assessment as this face-to-face edition, but it is designed as a self-study option and runs asynchronously – i.e. there are no face-to-face or Zoom classes. This is suitable only for students who are unable to attend in person and communication will primarily occur through Moodle and e-mail. The NET paper is designed for students who are unable to attend classes in person, such as those living away from Hamilton or who have some other reason that makes in-class attendance difficult. Anyone who wishes to switch to the NET paper should do so before the enrolment deadline at the end of Week 2 of the trimester. Please consult with MSC if you wish to change.
All students will be assessed primarily on their knowledge and understanding of the core textbook. The textbook forms the knowledge base for all other papers and marketing knowledge is required for the majority of other business subjects.
Principles of Marketing (7th or 8th Edition)
The paper is built around the following text:
- Armstrong, G., Denize, S., Volkor, M., Kotler, P., Ang, S. H., Love, A., Doherty, S., and van Esch, P. (2021) Principles of Marketing (8th Edition), Melbourne, Australia, Pearson.
You can purchase the book directly at this link. This book has been used since 2021 so I recommend also looking for secondhand copies.
The 7th edition of the same textbook would also be acceptable for study purposes:
- There are a limited number of copies of this book in the library.
- The course expectation is that you read and understand this textbook, so purchasing a copy of the text is highly recommended. You should be able to purchase the book at the campus bookstore. Alternatively, you can purchase directly from Pearson Education: here.
- [7th edition of the book is also acceptable. Amazon has lower-cost eBook copies on Kindle from time to time.]
What is Marketing?
The course will also draw on the following textbook (available as an eBook through the library):
- Silk, A. J. (2006) What is marketing?Boston, Massachusetts: Harvard Business School Press.
This book will only be used for supplementary material.
You will need to have
Other important resources you should know:
Students should be familiar with key sources of statistical information related to New Zealand markets:
- Euromonitor Passport (available through the Library)
- MarketLine Advantage (available through the Library)
- Nielsen Insights (NZ edition)
- Think with Google Newsletter (AU-NZ edition)
- WARC (available through the Library)
- International Markets
NOTE: Access to a laptop or other device that can access the internet will be useful in most tutorials and required in some cases.
Students who successfully complete the course should be able to:
- Explain and apply the fundamental terms, concepts and applications of marketing
- Identify and categorise the factors that drive value through the marketing process
- Identify relevant outcomes of marketing concepts and marketing-related decision making
- Apply market segmentation and data to identify target markets in New Zealand
- Present relevant criteria for market positioning through the application of the marketing mix
- Communicate marketing planning decisions and results of basic analysis using the correct terminology and concise, accurate business English
How you will be assessed
Practice Good Writing and Document Presentation in all Assignments
Please note that all reports in MRKTG101 should be well-written and well-presented. This is reflected in the rubric. Please ensure you use both spellchecker and grammar-checking software. While keeping within the specified page limits, reports should be laid out in an attractive manner:
- Use a clear document structure. Make this structure clear by using sub-headers.
- Write clearly and concisely:
- Do not 'pad' your writing. Cut down word count to a minimum while still making your writing clear
- Keep paragraphs short – a maximum of 4-5 lines per paragraph is recommended
- Where possible, such as for lists of statistics or product characteristics, you are encouraged to use bullet point lists
- Use charts and graphs where appropriate. Charts should be created as original charts and never be copied & pasted from elsewhere. All charts should have:
- A clear descriptive title
- Clearly labelled and correctly unitised axes
- A clear source/reference
- Ensure all content that is not your subjective opinion or your own creative content is correctly referenced using either APA referencing or links to original sources.
The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam.
|Percentage of overall mark
|1. Textbook Chapter Quizzes
|2. Tutorial Participation & Exercise Completion
3. Progress Reports
|4. Progress Report 1: 10 pts
11 Aug 2023
|5. Progress Report 2: 20 pts
22 Sep 2023
|6. Marketing Proposal Report
20 Oct 2023