THE OPEN UNIVERSITY OF TANZANIA FACULTY OF BUSINESS MANAGEMENT MBA COURSE OUTLINE

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1 THE OPEN UNIVERSITY OF TANZANIA FACULTY OF BUSINESS MANAGEMENT MBA COURSE OUTLINE OME 611- STRATEGIC MARKETING INTRODUCTION: As a result of accelerating technological change and the growth of international competition, the discipline of strategic marketing has assumed primary importance in the shaping and implementation of business strategy. Numerous studies confirm that marketing orientation with its focus on customer needs and benefits is critical to the development of effective longterm competitiveness and the creation of sustainable competitive advantage. The managers should understand buyer s needs and wants and effectively combine and direct their skills and resources to provide high levels of customer satisfaction. The role of marketing is to enable organizations to provide quality services to maintain customer loyalty. This can be achieved through application of marketing strategies to overcome competition in the market place. OBJECTIVES OF THE COURSE The course in Strategic Marketing is intended to broaden your view on the role of Strategic marketing in organization. It will also enable you understand how strategic marketing is practiced in organization as well as equipping you with knowledge on strategic marketing issues in organizations. The course will enable you to apply strategic marketing to organizations in the private, public and not for profit sectors. It will examine strategic marketing in service organization and the issues that arise from the differences between the market of tangible products and the marketing of services. It will address the need for understanding consumer behavior as it applies to the strategic marketing. LECTURE ONE: CONCEPTS DEFINITION AND FRAMEWORK OF MARKETING 1.1 Overview Organization success depend on marketing ability to make decision such as what features to design in to the new product, what prices to offer to customers, where to sell and how much to serve in advertising. 1.2 Learning Objectives: Discuss the changing role of marketing actions and philosophies in contemporary business. Discuss customers behavior in the market place Apply the new marketing concepts to solving marketing problems. Develop market driven strategies. Implement and manage strategic marketing programs in organizations. 1.3 Sub Lectures Role of Marketing in the firm Market Orientation Strategic Marketing Operational Marketing 1

2 LECTURE TWO: STRATEGIC CORPORATE PLANNING 2.1 Overview Corporate planning is a term used to denote a formal, comprehensive and systematic appraisal of internal environment to achieve organization objectives. It helps in formulation of plans, strategies and policies on the basis of the allocated resources. 2.2 Learning Objectives: Establishing corporate mission, objective and goals Establishing strategic business unit Assigning resources to business unit Planning for business growth 2.3 Sub Lectures Corporate mission, objective and goal Strategic Business Unit(SBU) The Boston Consulting Group-Share Matrix (BCG) Planning for business growth LECTURE THREE: MARKETING AUDITING AND CONTROL 3.1 Overview The marketing audit is designed to provide the strategist with the clear understanding of organization current position, nature of environment opportunity and threats and organization s ability to cope with environmental demand 3.2 Learning Objectives: The nature, structure and purpose of the market audit The nature of the contribution made by thee marketing audit to the overall management audit The need for a regular review of marketing effectiveness and how such a review might be conducted Why a regular review of strength, weakness, opportunities and threats is necessary How the marketing effectiveness review, SWOC analysis and the marketing audit contribute to the marketing planning process 3.3 Sub Lectures The structure and focus of the audit The stages of auditing and its scope and frequency Reviewing marketing effectiveness The role of SWOC analysis Competitive advantage and the value chain 2

3 LECTURE FOUR: ENVIRONMENTAL ANALYSIS 4.1 Overview The firm needs to study environmental analysis for the business unit to change with market and competition. 4.2 Learning Objectives: Discuss opportunities and challenges of external environment Discuss the strength and weaknesses of internal environment Apply SWOC as a tool for environmental analsis 4.3 Sub Lectures External environment Internal environment SWOC, PEST, EPISTEL LECTURE FIVE: FORMULATING BUSINESS STRATEGIES 5.1 Overview A company chooses a particular strategy depending upon its strengths and goals set for the business unit. Goal indicate what is to be achieved and strategy is a plan used to achieve these goals 5.2 Learning Objectives: Discuss Michael Porter s three generic strategies Explain how situational analysis is conducted Explain steps involved in formulating and implementing various marketing strategies 5.3 Sub Lectures Cost Situation analysis Differentiation and Focus strategy Marketing programs Strategic market implementation LECTURE SIX: ANALYISIS OF MARKETING AND COMPETITION 6.1 Overview Organization today operates in a dynamic environment; the players of the environment are called actors as they affect market decision. The interactive process that occurs in the market place is known as competitive environment 3

4 6.2 Learning Objectives: Discuss marketing analysis Explain internal corporate analysis Discuss competitor analysis 6.3 Sub Lectures Marketing analysis Corporate analysis Competitor analysis LECTURE SEVEN: OPERATIONAL MARKETING STRATEGIES 7.1 Overview The marketer s task is to devise marketing activities and assemble fully integrated marketing programs to create, communicate and deliver value for customers. 7.2 Learning Objectives: To explain product and brand strategies Explain how marketing mix tools can be used in overall marketing strategy formulation for an organization 7.3 Sub Lectures Product, Branding and Customer service strategies Pricing Strategies Distribution Strategies Promotion Strategies LECTURE EIGHT: MARKETING RESEARCH 8.1 Overview Marketing researchers spend most of their time in marking decision, which influence survival and growth of organizations. No decision is made without proper marketing information. There is a need for marketing managers to collect analyze and evaluate information through marketing research 8.2 Learning Objectives: Discuss the role of marketing research in making marketing decision Differences of marketing research studies Conceptual framework for conducting marketing research Steps involved in marketing research process 8.3 Sub Lectures Marketing research Steps in marketing research Users of marketing research Problems in conducting marketing research 4

5 LECTURE NINE: DEVELOPING MARKETING STRATEGIES 9.1 Overview A key ingredient of the marketing management process is creative marketing strategies. Developing the right marketing strategy over time require discipline and flexibility. Organization must stick to a strategy and find new ways to improve it. 9.2 Learning Objectives: Discuss how marketing affect customer value Explain how strategic planning carried out at different levels of the organization Identify contents of marketing plan 9.3 Sub Lectures Marketing and customer value Strategic planning Marketing planning LECTURE TEN: STRATEGY SELECTION 10.1 Overview Strategic selection is a useful tool when you are in the very early stages of strategy development. It helps you look at possible alternatives related to the three primary strategic variables 10.2 Learning Objectives: Select target group (Customer) Defining product class (Competitive Set) Message Emphasis (Product) Evaluate alternative strategies 10.3 Sub Lectures Product Class identification Target Group Selection Message Element Selection Rationale based on information and/or judgement on alternative strategies REFERENCES Jean Jacques Lambin (2000). Market Driven Management, Palgrave, Kottler P. & Keller K.L. (2006). Marketing Management, 12 th edition, Upper Saddle River, New Jersey Lovelock C. and Wirtz J.(2007), Services Marketing: People, Technology and Strategies, 6 th edition, Pearson Education Inc. 5

6 Mercer D. (1998) Marketing Strategy: the Challenge of the External Environment, SAGE publication Inc. Panda T.K.(2007). Marketing Management, 2 nd edition, New Delhi Jean Jacques Lambin (2000). Market Driven Management Palgrave, Philip Kotler(2006). Marketing Management, Analysis, Planning and Control, Prentice Hall, Inc. Subhash Jain(2005). Marketing Strategy and Planning South Western Publishers K. Okoso Amaa Handouts Wilson R.M.S. and Gilligan C., (2002). Strategic Marketing Management: Planning, Implementation and Control, 2 nd Ed., the Bath Press, Great Britain 6

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