Institute of Commercial Management | Qualification Subject

Strategic Marketing Management

Main Topics of Study

Introduction to Marketing Management

  • The nature of marketing
  • The management process
  • A modelling approach
  • Strategic decisions and the nature of the strategy
  • The marketing/strategy interface

Marketing Auditing and SWOT Analysis

  • Marketing audit – its meaning
  • Reviewing marketing effectiveness
  • Role of SWOT analysis
  • Characteristics of effective audits

Segmental Productivity and Ratio Analysis

  • Costs categories
  • Marketing costs analysis
  • Segmental analysis
  • Marketing experimentation
  • Customer profitability analysis
  • Nature of productivity
  • Use of ratio

Approach to Competitor Analysis

  • Meaning of competitor
  • Competitive relations evaluation
  • Identifying competitors objectives
  • Competitors strengths and weaknesses
  • Competitive responses
  • Competitive information system

Approach to Customer Analysis

  • Model of buyer behaviour
  • Factors influencing consumer behaviour
  • The buying decision process
  • Organisational buying behaviour

Mission and Objectives

  • Purpose of planning
  • Establishing corporate mission
  • Influences on objectives and strategies
  • Setting objectives and targets
  • Development of strategies

Structural, Market and Environment Analysis

  • Analysing the environment
  • Nature of the marketing environment
  • Micro and macro-environmental analysis
  • Approaches to environmental analysis

Market Segmentation, Targeting and Positioning

  • Nature and purpose of market segmentation
  • Bases for segmentation
  • Approaches to segmenting industrial markets
  • Market targeting
  • Product positioning

Formulation of Strategy

Analysing the Product Portfolio

  • The development of strategic perspective models of portfolio analysis
  • Market attractiveness

Generic Strategies for Leaders, Followers, Challengers and Nichers

  • Types of strategy, Porter’s strategies
  • Identifying potential competitive advantages
  • Strategies for market leaders, market challengers, market followers and market nichers
  • Dangers of strategic wearout

Pricing Policies and Strategies

  • Role and significance of price
  • Approaches to price setting
  • Pricing objectives
  • Pricing methods
  • Using price as a tactical weapon
  • Offensive pricing

Promotional Plan

  • The promotional mix
  • Integrating the elements of the promotional mix
  • Advertising plan
  • Planning for personal selling

Distribution Plan

  • Distribution audit
  • Distribution objectives
  • Distribution strategies
  • Evaluation and control

Criteria of Choice in Decision Making

  • Financial and non-financial criteria
  • Multiple criteria, modelling approaches
  • Financial and non-financial plans

Strategic Implementation and Control

  • Marketing feedback and control systems
  • Basic control concepts and their application throughout the planning and implementation process
  • Problem areas and organisational considerations
  • The role of internal marketing, management controls, budget, networks, performance evaluation, ratio analysis, corrective responses, bench-marking
  • The auditing process

Recommended Reading

Main Text:

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Strategic Marketing Management: Planning Implementation & Control – Wilson, Gilligan & Pearson (Butterworth Heinemann)

Indicative Text:

Alternative Text and Further Reading:

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Marketing Management – Philip Kotler (Prentice Hall)

Marketing Plans: How to Prepare Them, How to Use Them – McDonald MHB (Butterworth/Heinemann)