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SYLLABUS

AM SYLLABUS (2022): Marketing

AM SYLLABUS (2022)

MARKETING AM 23

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Syllabus Paper 1 (3 hrs) + Paper II (3 hrs)

Syllabus objectives

The syllabus is intended to encourage candidates to:

Understand and appreciate the nature and scope of marketing and its role in industry and society;Appreciate that marketing can be studied from the perspective of a range of stakeholders within thecontext of the internal and external environments;Be aware of the economic, environmental, and technological issues associated with marketingpractices;Develop critical understanding of consumers, goods and services providers, marketingorganisations and the importance of adding value.

The emphasis is on the application of concepts and issues within the local and international contextswhere relevant.

Assessment

Candidates will be assessed on the following:

Knowledge and comprehension of the topics specified in the syllabus;Application of knowledge to challenges and issues within local and international situations;Analysis of problems, issues and situations by making valid inferences, organising ideas anddeveloping a framework of understanding of the subject;Critical evaluation in the context of marketing principles and the marketing environments.

PAPER MARKS

Paper 1 - 3 hours

Section ACirca 8 to 12 short answer questionsAll questions are compulsory

Section B2 essays from a choice of 3

50% totalCirca 4 to 7 marks per question

50% = 2 x 25% each

100% Total

Paper 2 - 3 hours

Section ACase Study, 4 short answers, compulsory

Section B2 essays from a choice of 3

50% total for the section

50% = 2 x 25% each

100% Total

Marketing AM 23 (Available in September)

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Paper 1

Section A

The short answer questions in Section A are designed to test the candidates’ knowledge andcomprehension of the fundamental principles of marketing.

Section B

The essay questions in Section B are designed to test the knowledge, comprehension, application andanalysis of marketing principles and practices. The essay type answers provide scope to describemarketing terminology and frameworks in more detail and to analyse how they are implemented inorganisations and markets.

Paper 2

Section A: Case Study

The case study introduces the core principles of marketing in action as applied in a real context.Questions in this section address the issues raised in the case and test the ability to apply and analysehow marketing is implemented. Questions may cover a variety of core marketing principles.

Section B

The essay questions in Section B are designed to test the knowledge, comprehension, application andanalysis of marketing principles and practices. The essay type answers provide scope to describemarketing terminology and frameworks in more detail and to analyse how they are implemented inorganisations and markets.

Knowledge and comprehension are typically expressed through: marketing terminology and itsmeaning, outlines of marketing frameworks in the form of lists, tables and diagrams, whichsummarise complex principles, concepts, practices, processes and contexts.

Application and analysis are typically expressed through: problem solving by using knowledgeand appropriate generalization of the main principles of marketing, identification of informationinto component parts and the ability to debate, differentiate, appraise and examine concepts.

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Syllabus

A. CREATING AND CAPTURING CUSTOMER VALUE

1. Marketing, definition2. Marketing, process definition3. Customer needs, wants and demands4. Market offerings – goods, services, experiences5. Customer value and satisfaction6. Exchanges and relationships7. Markets8. Marketing management orientations9. Customer relationship management, definition10. Creating customer loyalty and retention11. Growing market and revenue share12. Building customer equity13. Marketing mix, a brief introduction, 4Ps, 7Ps

B. ANALYSING THE MARKETING ENVIRONMENT

1. The microenvironmenta. The companyb. Suppliersc. Marketing intermediariesd. Competitors and market structurese. Publicsf. Customers

2. The macroenvironmenta. The demographic environmentb. The economic environmentc. The natural environmentd. The technological environmente. The political and legal environmentf. The social environmentg. The cultural environment

D. BUYER BEHAVIOUR

1. Consumer buying behaviourA brief introduction

2. Characteristics affecting consumer buyingbehaviour

a. Cultural factorsb. Social factorsc. Personal factorsd. Psychological factors

3. Types of buying decision behavioura. Complex buying behaviourb. Dissonance-reducing buying behaviourc. Habitual buying behaviourd. Variety-seeking buying behaviour

4. Consumer buyer decision processa. Need recognitionb. Information searchc. Evaluation of alternativesd. Purchase decisione. Post purchase behaviour

5. Business buying behaviourA brief introduction

6. Business buyer behavioura. Major types of buying situationsb. Participants in the business buying processc. Major influences on business buyersd. The business buying processe. E-procurement: buying on the Internet

C. CUSTOMER INSIGHTS

1. Marketing Informationa. Internal data, introductionb. Competitive market intelligence, introduction

2. Marketing Researcha. Marketing research processb. Defining the problem and research objectivesc. Developing the research pland. Gathering secondary datae. Primary data collection:f. Research approachesg. Contact methodsh. Sampling plani. Research instrumentsj. Presenting findings through info-graphics

E. MARKET SEGMENTATION AND TARGETING

1. Segmentationa. Segmenting consumer marketsb. Segmenting business marketsc. Segmenting international marketsd. Requirements for effective segmentation

2. Market Targetinga. Evaluating market segmentsb. Selecting target market segments

3. Positioning strategya. brief introduction

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AM SYLLABUS (2022): Marketing

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b.c.d.e.

G.

Introduction stageGrowth stageMaturity stageDecline stage

PRICING STRATEGY

1.a.b.

2.a.b.

The promotion / communication mixIntegrated marketing communicationsCommunications process

AdvertisingSetting advertising objectivesTypes of media

1. Pricing - definition c. Evaluating advertising effectiveness and thereturn on advertising investment

2. Price elasticity of demand - definition3. Public relations

3. Major pricing strategies a. Role and impact of PRa. Customer value-based pricing b. Major PR toolsb. Cost-based pricingc. Competition-based pricing 4. Personal selling

a. Nature of personal selling4. New product pricing b. Role of the sales forcea. Market-skimming pricing c. Steps in the selling processb. Market-penetration pricing

5. Sales promotion5.a.

Product mix pricingProduct line pricing

a.b.

Growth of sales promotionSales promotion objectives

b. Optional product pricing c. Main sales promotion toolsc. Captive product pricingd. By-product pricing 6. Direct marketinge. Product bundle pricing a. Direct-marketing model

b. Benefits to buyers6. Price adjustments c. Benefits to sellersa. Discount and allowance pricing d. Direct-mail marketingb. Segmented pricing e. Catalogue marketingc. Psychological pricing f. Telephone marketingd. Promotional pricing g. Direct-response television marketinge. Geographical pricing h. Kiosk marketingf. Dynamic pricing

F. PRODUCT STRATEGY

1. Goods, services and brandsa. Goods, services and experiences

g. International pricing

H. DISTRIBUTION STRATEGY

b.c.d.e.f.g.h.i.

Levels of the productGoods and service classificationsIndividual goods and service decisionsProduct line decisionsProduct mix decisionsThe nature and characteristics of a serviceBrand equityBuilding strong brands

1.a.b.

2.a.b.c.

Nature and importance of channelsHow channel members add valueChannel levels, roles and functions

Channel behaviour Verticalmarketing systems Horizontalmarketing systems Multichanneldistribution systems

2.a.b.c.d.e.f.g.h.i.

The new product development processNew product development strategyIdea generationIdea screeningConcept development and testingMarketing strategy developmentBusiness analysisProduct, prototype developmentTest marketingCommercialisation

3.a.

4.a.b.

5.a.b.

Marketing logisticsNature and importance of marketing logistics

RetailingTypes of retailersRetailing trends and developments

WholesalingDefinition of wholesalersTypes of wholesalers

3. Product life-cycle strategiesa. Development stage (definition)

I. COMMUNICATIONS STRATEGY

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7. Digital and online technologya. Marketing and the Internetb. Online marketing models:

B2C, B2B, C2C and C2Bc. Establishing an online marketing presenced. Creating a websitee. Placing ads and promotions onlinef. Participating in social networksg. E-mail marketing

J. GLOBAL MARKETING

1. Deciding how to enter the marketa. Exportingb. Joint venturingc. Direct investment

K. MARKETING AND SOCIETY

1. Social criticisms of marketinga. Marketing’s impact on individual consumersb. Marketing’s impact on society as a wholec. Marketing’s impact on other businesses

2. Consumer actiona. Consumer actions for sustainable marketingb. Consumerism, general principlesc. Environmentalism, general principlesd. Public actions to regulate marketing

3. Marketing ethicsa. Basic principles

4. Marketing in non-profit organisationsa. Characteristics of non-profit organisationsb. Applying marketing in non-profit organisations

Learning and teaching resources

Main textbook

Principles of Marketing, European Edition. Kotler et al., Pearson Education.

Additional readings

Essentials of Marketing, Blythe, Pearson.Foundations of Marketing. International edition. Pride et al., Cengage South-Western.Principles of Contemporary Marketing. Boone et al., Cengage South-Western.Principles and Practice of Marketing. Jobber et al., McGraw Hill.

Support materials

Resources are available for tutors and students on the publishers’ websites. The resources includevideo, audio, slides and exercises for self-assessment. Textbooks are available in print and digitalversions from online digital textbook portals or the publishers’ websites.

AM SYLLABUS (2022): Marketing