Marketing

This subject has the following teaching availabilities in 2014:

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

The Marketing subject focuses on the challenges faced by organisations in managing demand, and how to address those challenges with optimal demand-side strategies. To be successful, organisations have to be able to recognise, create, grow, and protect market-based assets that influence demand. Brand equity, the installed base of customers, and support from channels (e.g., intermediaries such as retailers) constitute the most important market-based assets that help produce market outcomes such as sales growth, price premiums, market share, customer share, customer retention, customer referrals, and addressable markets.

In this subject, students will learn how (and which) marketing investments help develop market-based assets, how market-based assets translate into market outcomes, and how market outcomes in turn help in ensuring the long-term survival and success of organisations.

Upon completion of this subject, students will be able to:

1. Develop and manage the demand-based growth strategies for the firm. To achieve this objective, students need to:

• Understand the value of market-based assets, including brands, customer bases, and channel support.
• Be able to identify and evaluate the vulnerability (risk) of, and opportunities in, their market-based assets.
• Understand how their market-based assets translate into demand outcomes for the firm.
• Be able to identify and evaluate sources of demand-based growth (e.g., retention, share of wallet, share of market, referral, margin and addressable markets).
• Be able to identify and evaluate strategies that will help a firm succeed along each of the growth dimensions.

2. Manage demand-side strategies for the firm. To achieve this objective, students need to able to apply the following activities:

• Value management: Understand the concept of value from the customer’s perspective; be able to measure value and develop products/services that provide value.
• Segmentation: Be able to segment a market based on the differences in value (perceived and desired) across customers
• Targeting: Be able to identify and evaluate what makes a segment of customers attractive to the firm,
• Positioning: Be able to create a unique and attractive selling proposition for the firm’s brands
• Marketing mix management: Be able to capture, communicate, and deliver value via pricing, communications, and channel management.
• Product management: Be able to manage portfolios of brands
• Customer management: Be able to manage portfolios of customers.

• Contribution to class learning (5%)
  • Attendance at lectures and workshops, instructor evaluation of contribution to class learning
  • Throughout subject
• 9 x individual case preparation and discussion (10%)
  • Each equivalent of indivdiual 100 word assessment
  • Throughout subject
• Syndicate project
• Written syndicate assignment (equivalent of individual 1100 word assessment) (30%)
• Syndicate presentation (equivalent of individual 500 word assessment) (5%)
• Week 9)

• Final examination (50%)
  • Hurdle requirement
  • 2 hours
  • End of subject

This subject is not available as a breadth subject.