BZR825 Marketing in a Complex World
Credit points: 30
Summary
This course addresses issues of complexity in marketing - on the premise that there are no simple answers in today's increasingly complex world. This issue is expanded in a broad discussion of complexity theory and its application to marketing strategy. The course discusses external change drivers and includes units on economics and scenario planning. The course addresses advanced marketing concepts and techniques, with a particular emphasis on relationship marketing and brand strategy and management. It also includes electives on specialist marketing topics and a substantial section on international marketing - one of the major sources of complexity.
Description
This course is for managers who have a role in planning or developing marketing activities, or who work alongside colleagues responsible for marketing. It deals with three areas of uncertainty that affect the development of strategic marketing decisions: uncertainty arising from the volatility of the external environment; uncertainty arising from the changing relationship between suppliers and customers; and uncertainty arising from the internationalization of business and trade. The course does not suggest that there are simple solutions, but puts forward concepts and analytical techniques that will help managers to make marketing decisions against a background of complexity and uncertainty.
By the end of the course you should:
- Be aware of the difficulties of planning in conditions of uncertainty.
- Be able to prepare strategic scenarios.
- Understand how macro-economic factors affect organizational performance.
- Be familiar with some micro-economic analytical techniques.
- See how an understanding of relationships influences current marketing theory.
- Be familiar with the strategic process of brand-building.
- Understand the impact of internationalization on domestic as well as global operations.
- Have a good grasp of the principles of complexity theory.
The course has nine units grouped into three books.
Book 1 Complexity and the external environment asks how external factors affect organizational performance and planning. As well as introducing the course as a whole, this first book looks at techniques for planning in conditions of uncertainty to develop robust strategies. It introduces macro-economics, and some micro-economic concepts that can help marketing managers to understand change-drivers; these include agency theory, transaction cost analysis and labour segmentation. The book ends with an introduction to game theory.
Book 2 Complexity and marketing The three units in this book cover relationship marketing, brand-building and integrated communications. The first unit develops the concepts of relationship marketing in considerable detail. Drawing on the latest research, it discusses how our understanding of consumers' behaviour is changing, and how organizations need to adapt their policies and programmes accordingly. The unit on brand-building demonstrates that brands are of great importance in determining the success or failure of organizations in consumer, industrial and non-profit markets. This unit, based on the results of recent research, offers guidance on developing and maintaining brands. Communications are the key to successful marketing. As technology becomes more complex, integration of communications becomes both more difficult and more important. The unit on integrated communications is linked to a textbook that brings together the latest thinking in this field.
Book 2 is supported by elective units: you are required to study only one of them, but the others are available for reference if you need them. They cover marketing services, marketing in the non-profit sector, marketing for SMEs and business-to-business marketing. They are presented on CD-ROM or as textbooks.
Complexity and internationalization are the subject of Book 3. A double unit examines the impact of globalization on all organizations, including those that at present operate in a purely domestic context. You will see the difficulties as well as the opportunities arising from new technology, which is eliminating barriers of time and geography. We also consider the implications of political changes that affect trade. The course concludes by looking at the lessons that managers can take from the natural sciences to help them to improve their understanding of managing complex systems in a volatile environment. Techniques and concepts to assist the development of marketing strategies in conditions of uncertainty are introduced.
Entry
You can take this course on its own, or as part of our MBA or MA in Marketing programme. To register for the MBA you must, normally, have a degree or equivalent professional qualification, and you should be aged at least 25 and have significant experience at middle management level or higher. If you are taking the course as part of an MBA we expect you to have already completed Stage I and the compulsory Stage 2 course B820 Strategy. The course is compulsory for the MA in Marketing. To register for that you must hold a postgraduate diploma from the Chartered Institute of Marketing, have significant experience at middle or higher management level, and be aged at least 24 when you register for your first course in the programme.
If you are taking the course on its own and have not studied for some time, you would find it useful to refresh your knowledge of fundamental marketing theory. You might find it helpful to take one or more of the following courses: B630 The effective manager, B730 Managing performance and change, B800 Foundations of senior management.
If you have any doubt about the suitability of the course, please seek advice from your Regional Centre.
What's included
Course books, other printed materials, CD-ROMs, conferencing facilities, website.
You will need
Computer as described in our Personal Computing leaflet and a subscription to an internet service provider. You will also need Microsoft Office 97 or 2000. Please note that Microsoft Works or Microsoft Works 4 are not appropriate.
Support from your tutor
You will have a tutor who will help you with the course and mark and comment on your written work, and whom you can ask for advice and guidance. You will contact your tutor by telephone, correspondence, e-mail and computer conferences. We may be able to offer group tutorials or day-schools that you are encouraged, but not obliged, to attend. Where tutorials are held will depend on the distribution of students taking the course. Ask your Regional Centre if you need to know more before you decide whether to register. Your Regional Centre will provide you with both general and certain specialist help with your studies.
Assessment
There are three tutor-marked assignments and an examination.
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