Strategic Marketing

FBTE34531 Strategic Marketing 40 Semester 1 Undergraduate Level 6 Barbara Waters Unit coordinator Department of Materials 1 FHEQ level (Framework for Higher Education Qualifications) ' Last part of a Bachelors ' European Credit Transfer & Accumulation System Rating : 20.0 Strategy is concerned with decisions relating to the scope and scale of the business, and the direction(s) in which it should grow and develop in the future. Every organisation is compelled to think carefully about how it capitalises on global market opportunities whilst minimising threats, and how it develops its core competencies and capabilities to compete successfully against other industry players.Strategy will be considered both from a corporate perspective (i.e. as a holistic issue guiding the competitive scope and direction of the whole organisation), and from a more functional orientation, considering in more detail specific marketing decision areas (such as the product, retail brands and pricing etc.) which have obvious strategic implications.Whilst there are numerous ways in which the strategy concept can be conceptualised and practised, what cannot be denied is that in most organisations, the marketing and retailing function make a significant contribution to achieving competitive advantage. This unit considers the relationship between strategy, marketing and retail, focusing in particular on the strategic contribution of marketing in the context of the global fashion retailing industry, and how this activity is planned and managed. <div>Strategy is concerned with decisions relating to the scope and scale of the business, and the direction(s) in which it should grow and develop in the future. Every organisation is compelled to think carefully about how it capitalises on global market opportunities whilst minimising threats, and how it develops its core competencies and capabilities to compete successfully against other industry players.Strategy will be considered both from a corporate perspective (i.e. as a holistic issue guiding the competitive scope and direction of the whole organisation), and from a more functional orientation, considering in more detail specific marketing decision areas (such as the product, retail brands and pricing etc.) which have obvious strategic implications.Whilst there are numerous ways in which the strategy concept can be conceptualised and practised, what cannot be denied is that in most organisations, the marketing and retailing function make a significant contribution to achieving competitive advantage. This unit considers the relationship between strategy, marketing and retail, focusing in particular on the strategic contribution of marketing in the context of the global fashion retailing industry, and how this activity is planned and managed.</div> <div>This unit aims to provide an in-depth critical insight into strategic marketing and retail planning within the global fashion retailing industry, with the view to achieving competitive advantage through products and markets. It recognises the significance of environmental auditing and introduces techniques which can be used by fashion organisations to capitalise on lucrative opportunities within global markets. The identification and deployment of core competencies and capabilities through the implementation of marketing strategy is pivotal to this unit. More specifically, this unit aims to:<ol><li>Provide a critical appreciation of the scope and theoretical perspectives on strategic marketing and retail.</li><li>Relate the relevant theories of strategic marketing to contemporary practice within the global fashion retailing industry.</li><li>Assess how strategic marketing can be applied to retail fashion businesses for contributing towards organisational success.</li></ol>This unit provides an introduction to the principles of strategy and strategic marketing in a specific contemporary retail context, including:<ul><li>The nature of strategic marketing and retail and its relationship with corporate strategy</li><li>Sustainable competitive advantage</li><li>Globalisation/contemporary developments.</li><li>Alternative perspectives on – and approaches to - strategic planning.</li><li>Analysis, consolidation & objective setting.</li><li>Academic modelling.</li><li>Internationalisation, strategic options, choice & direction.</li></ul></div> A greater depth of the learning outcomes will be covered in the following sections:<ul><li>Knowledge and understanding</li><li>Intellectual skills</li><li>Practical skills</li><li>Transferable skills and personal qualities</li></ul> <ul><li>Critique the strategic marketing process at corporate, business and functional levels.  </li><li>Analyse and evaluate strategic marketing situations within global contexts, in particular the impact of culture and other contemporary forces in their assessment of viable marketing opportunities.  </li><li>Recommend strategic direction by assessing and applying a range of theoretical tools, market-screening exercises, and by making use of reputable data.</li></ul>Contributing to the programme learning outcomes:  A1. Systematically describe, analyse and appraise the structure of global fashion, textiles and related industries, with focus on the emerging issues of markets, services, consumer expectations within the macro-environment.  A5. Confidently distinguish the key elements of contemporary challenges and issues in fashion and textiles and use these systematically in strategic planning of operational responses.  A6. Appreciate the role of design, creativity and visual concepts and their interrelation, in a commercial context, using digital multimedia (CAD) technologies where appropriate to develop and communicate these concepts.  A7. Interpret the language of imagery and symbolic content in fashion consumption, with particular reference to forecasting, branding and product development for the fashion and textile industries.  A8. Articulate the processes, procedures and practices of fashion retail, marketing, management and buying and merchandising strategies. Contributing to the programme specification learning outcomes for BSc Fashion Marketing  A11. Analyse and evaluate approaches to marketing planning; and the ability to understand fashion marketing decision making.  A12. Demonstrate an in-depth understanding of consumers and markets; and the ability to effectively communicate fashion brands to specialist and non-specialist audiences.  A13. Demonstrate an in-depth understanding of how marketing planning and decision making fits into the strategic corporate planning within the fashion industry. <ul><li>Evaluate a range of market entry methods and assess which course of action is most appropriate for a fashion brand.  </li><li>Create a convincing and well-evidenced strategic marketing plan for a fashion brand's international expansion.</li></ul>Contributing to the programme learning outcomes:  B1. Identify and conceptualise appropriate theories, applying them to the fashion and textile industry.  B2. Synthesise, assess and evaluate information and data from appropriate sources and use these to make informed, independent judgments and decision making in relation to technical product and/or business contexts.  B4. Exercise original thinking and independent learning to design and execute a project to evaluate and analyse a business concept or a technical aspect of garment or textiles products.  B6. Undertake the development and execution of a major independent project in an appropriate area.  <ul><li>Acquire the necessary business skills for the formulation of strategic and operational marketing plans.</li></ul>Contributing to the programme learning outcomes:C1. Select, apply and evaluate appropriate numerical, statistical and physical testing methods for complex and open-ended tasks.C3. Act Autonomously with limited supervision or direction within negotiated guidelines, individually and as part of a team.C4. Identify and employ appropriate sources of information.C5. Plan, implement and interpret results of research or experimental studies.C6. Use practical design communication methods effectively in a fashion and textile context. <ul><li>Critically reflect upon, and evaluate, their own process of conducting a strategic marketing planning process.  </li></ul>Contributing to the programme learning outcomes:D1. An ability to act ethically and communicate appropriately in a variety of complex and unpredictable contexts.  D2. An ability to plan, manage and evaluate the investigation into and acquisition of new knowledge.  D3. Clear and effective communication, using a range of styles and employing various media appropriate to the context.  D4. Effective engagement in problem solving, academic discussion and presentation of arguments in a professional manner to both specialist and non-specialist audiences.  D7. An understanding of factors that enhance group processes; leadership, negotiation and team working, evaluating own effectiveness with a team and modifying own behaviour as appropriate.  D8. An ability to apply creative and visual sensibilities in a commercial context.  This unit is delivered using a blended learning approach, which integrates technology and digital media with traditional classroom activities. A variety of learning and teaching processes will be used including: lectures, discussions, group activities and independent study. Canvas will be used to present online study materials, including videos, lecture notes, guided reading, articles and other information. Canvas will also be used for the submission of assessments. 1 Written exam 30% 5 Portfolio 70% Written and verbal N The recommended reading for this unit can be found on the <a href="https://www.readinglists.manchester.ac.uk/leganto/public/44MAN_INST/lists/354522203140001631?auth=CAS">online unit reading list</a>. 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