MKF1120 Marketing theory and practice Unit Guide Semester 1, 2011 The information contained in this unit guide is correct at time of publication. The University has the right to change any of the elements contained in this document at any time. Last updated: 27 Feb 2011 Table of Contents MKF1120 Marketing theory and practice - Semester 1, 2011................................................................1 Chief Examiner:...............................................................................................................................1 Lecturer(s) / Leader(s):....................................................................................................................1 Caulfield...............................................................................................................................1 Tutor(s):.......................................................................................................................................................1 Caulfield...........................................................................................................................................1 Unit synopsis...............................................................................................................................................2 Learning outcomes......................................................................................................................................2 Contact hours..............................................................................................................................................2 Further unit information...............................................................................................................................2 Workload.....................................................................................................................................................2 Unit relationships.........................................................................................................................................2 Prohibitions......................................................................................................................................2 Teaching and learning method....................................................................................................................3 Timetable information......................................................................................................................3 Unit Schedule..................................................................................................................................3 Unit Resources............................................................................................................................................5 Prescribed text(s) and readings.......................................................................................................5 Recommended text(s) and readings................................................................................................5 Library resources.............................................................................................................................5 Blackboard (MUSO).........................................................................................................................5 Q Manual.........................................................................................................................................6 Assessment.................................................................................................................................................7 Assessment Summary.....................................................................................................................7 Faculty assessment policy...............................................................................................................7 Hurdle requirements........................................................................................................................7 Second marking...............................................................................................................................7 Return of final marks........................................................................................................................7 Applications for extension of time....................................................................................................7 Assessment tasks............................................................................................................................7 Assessment task 1...........................................................................................................................8 Assessment task 2...........................................................................................................................8 Assessment task 3...........................................................................................................................9 Examinations.................................................................................................................................10 Examination 1................................................................................................................................10 Special consideration.....................................................................................................................10 Assessment criteria - grading descriptors table.............................................................................11 Appendix....................................................................................................................................................12 MKF1120 Marketing theory and practice - Semester 1, 2011 Chief Examiner: Dr Erica Brady Lecturer(s) / Leader(s): Caulfield Dr Erica Brady Lecturer Phone: +61 3 990 32546 Email: Erica.Brady@monash.edu Location: Room 18, Building S6, Caulfield Tutor(s): Caulfield ______________________ 1 Unit synopsis Introduction to marketing activities undertaken by a wide range of organisations (business, government, profit, non profit); examines marketing theory, the marketing concept and its evolution from a strategic and applied perspective. The development of corporate and marketing strategic plans; analysis of an organisation and marketing's role, value-exchange processes, buyer behaviour, marketing research and market analysis, the marketing environment, the use of marketing decision making tools; product concepts, strategies and development; distribution, pricing and communication mix strategies; services marketing; marketing management, implementation and control processes and procedures. Learning outcomes The learning goals associated with this unit are to: describe the key concepts upon which the practice of marketing is based1. recognise these concepts in the marketplace and in everyday life2. discuss the role and influence of marketing in the organisational environment3. discuss how key marketing concepts can be used in analysing a range of marketing problems.4. Contact hours 3 hours per week Further unit information When enrolling and allocating into units, students are responsible for ensuring that they are able to attend all scheduled teaching activities required to study each unit. Students who are unable to attend scheduled classes throughout the semester should amend their enrolment, by the published census date (to avoid any penalty), and withdraw from the unit so they will not be disadvantaged by their inability to attend. If students choose to continue with the unit they accept full responsibility for this decision and undertake to make their own arrangements to ensure they keep up to date with the unit. No alternative arrangements will be made by the Faculty. Workload The total time commitment required for this unit is 144 hours. In addition to the 36 hours of class contact students are expected to devote an additional 108 hours during the semester to studying for this unit. This includes time spent in the preparing for and completing assessment tasks, together with time spent in general study, revision, and exam preparation. Unit relationships Prohibitions MKC1200, MKG1120, MKP1120, MKW1120 MKF1120 Marketing theory and practice - Semester 1, 2011 2 Teaching and learning method The unit is presented in a 2-hour lecture and a 1-hour tutorial each week. There are 36 hours in total of class contact time during the semester. However, this time is not sufficient for you to succeed in the unit and you will need to invest an additional 9 hours per week, incrementally and consistently throughout the semester, in order to gain the opportunity for a reasonable grade. University is an environment whereby students must take responsibility for their own learning and development of knowledge. The lectures are designed to provide you with an overview of the principles of marketing, but are not a summary of the textbook. They will provide you with examples of the marketing principles ‘in action’ and they will also provide support for assessment in terms of report writing, examination skills, etc. In the interests of developing your independent learning skills and enhancing student participation, lecture outlines will be made available on Blackboard. Lectures are designed to assist you to achieve the unit objectives listed above. The tutorial focus is on both skills development and knowledge development. They are designed to assist you with assessment and developing the skills listed using marketing knowledge. Please note that tutorials and lectures are of limited value if you do not prepare in advance. They are a learning resource for you, not a replacement of your own independent learning. It is important to understand whilst there are core theoretical marketing principles and processes you must learn and understand, that there are a few ‘absolutes’ in the marketing of an offer and the correct answers for marketing any offer may not be found in a textbook. This unit will attempt to help you build the cognitive, affective and attitudinal capabilities necessary to be a good marketer though employing discussion, reading and analysis, and preparation of assignments. Timetable information For information on your timetable, including tutorial allocation if required, please refer to: http://allocate.its.monash.edu.au/ Unit Schedule Week Key Dates Topic References/Readings Tutorial Activity 1 28th Feb - 4th March - Introduction to the unit. - What is marketing? - History and importance of marketing. Kotler et al (2010). Chapter 1. Orientation/transition tutorial 2 7th - 11th March - Marketing basics. - The microenvironment Kotler et al (2010). Chapters 1, 2 and 5. What is marketing? 3 14th - 18th March - The macroenvironment. - Marketing information Kotler et al (2010). Chapters 5 and 6. Marketing terminology and the microenvironment 4 21st - 25th March - Marketing research. - Buyer behaviour . Kotler et al (2010). Chapters 6 and 7. Macro environment and marketing information systems MKF1120 Marketing theory and practice - Semester 1, 2011 3 5 28th March - 1st April - Buyer behaviour - the decision making process. - Business buyer behaviour Kotler et al (2010). Chapters 7 and 8. Buyer behaviour 6 4th - 8th April - Segmentation. - Targeting and positioning. Kotler et al (2010). Chapter 9. Mid-semester test, in computer lab, during your scheduled tutorial 7 11th - 15th April - What is a product?- . - Management of products Kotler et al (2010). Chapters 10 and 11. Segmentation, targeting and positioning (STP) 8 18th - 22nd April - Branding. - Pricing. Library - essay skills Kotler et al (2010). Chapters 10 and 12. Product Mid Semester Break 9 2nd - 6th May - Price strategies - Marketing channels. Kotler et al (2010). Chapters 12 and 13 Pricing 10 9th - 13th May - Logistics and retailing - Integrated marketing communication (IMC). Kotler et al (2010). Chapters 14 and 15. Channels and distribution Essay due, during your scheduled tutorial time 11 16th - 20th May - Integrated marketing communication (IMC). Kotler et al (2010). Chapters 15, 16 and 17. IMC 12 23rd - 27th May - Strategy and planning. - Review and exam preparation. Kotler et al (2010). Chapters 3, 4 and 19. Review and exam preparation - MKF1120 Marketing theory and practice - Semester 1, 2011 4 Unit Resources Prescribed text(s) and readings Kotler, P., Brown, L., Burton, S., Deans, K. and Armstrong, G., (2010). Marketing, 8th ed. Pearson Education. Recommended text(s) and readings The review and use of academic and practitioner journals is an important part of building knowledge and insight into marketing theory and practice. We recommend that marketing students read the following; newspapers, magazines and online resources: The Age, The Financial Review, The Australian, Marketing, B&T Weekly and BRW. These journals will also be very useful in the preparation of assignments in this and other business units. Library resources The Monash University Library provides a range of services and resources that enable you to save time and be more efficient in your learning and research at URL: http://www.lib.monash.edu.au or via the Library tab in the my.monash portal. Blackboard (MUSO) All unit and lecture materials, plus other information of importance to students, are available through the MUSO (Monash University Studies Online) site. You can access MUSO via the My.Monash Portal: http://my.monash.edu.au • Under “Online Systems” click the MUSO hyperlink In order for your MUSO unit(s) to function correctly, your computer needs to be set up and certain programs may need to be installed such as a compatible Java version (eg version 1.5.0). This can easily be done by going to http://www.monash.edu.au/muso/support/students/browserset.html to update the relevant software. You can contact MUSO Support by: Jobdesk: http://jobdesk.monash.edu.au/login/index.cfm?jobdesk_id=14 Email: muso.support@calt.monash.edu.au Phone: (+61 3) 9903-1268 Operational hours (Monday – Thursday) – local time Australia: 8 am to 10 pm (8pm Non Teaching period) Malaysia: 6 am to 8 pm (6 pm Non Teaching period) South Africa: 11pm to 1pm (11 am Non Teaching period) Operational hours (Friday) – local time Australia: Australia: 8 am to 8 pm Malaysia: 6 am to 6 pm South Africa: 11pm to 11 am MKF1120 Marketing theory and practice - Semester 1, 2011 5 Operational hours (Saturday-Sunday) – local time (Teaching and Exam Period Only) Australia: 1 pm to 5 pm Malaysia: 11 am to 3 pm South Africa: 4 am to 8 am Further information can be obtained from the following site http://www.monash.edu.au/muso/support/index.html Q Manual You will often be directed to cite the source of the ideas, statistics, direct quotations and general information that you use to prepare your written assignments. This is important for a number of reasons. Firstly, it is good professional and ethical conduct to always give due credit to those people whose work you have borrowed. Secondly, it is an element of good communication to ensure that your readers can expand their understanding of your writing by accessing the same sources you have used to formulate your thoughts. Thirdly, all organisations, including your present or future employer, have written or understood rules of the behaviour that is valued in that organisation. These rules often include the ways that it communicates internally and externally. In an academic organisation the intellectual property of other researchers and writers is highly valued. Citing their work is a way of acknowledging their contribution to scholarship. For guidelines on referencing and essay writing please refer to the faculty Q Manual. Copies of this Manual can be obtained on line at: http://www.buseco.monash.edu.au/publications/qmanual/ MKF1120 Marketing theory and practice - Semester 1, 2011 6 Assessment Assessment Summary Within semester assessment: 50% Examination (2 hours): 50% Faculty assessment policy For information regarding assessment policy, please refer to the appendix at the end of this Unit Guide. Hurdle requirements There is a hurdle requirement in this unit. The learning outcomes in this unit require students to demonstrate in the individual summative assessment task a comprehensive understanding of the topics covered in the unit. This is demonstrated by the requirement that the student must attain a mark of at least 50% in the final summative assessment task. A student’s final mark is normally the sum of the marks obtained in all of the individual assessment items in the unit. Where a student fails the unit solely because of failure to satisfy the hurdle requirement a mark of 48 will be returned for the unit. The individual summative assessment task is the final exam. Second marking For information regarding second marking practice, please refer to http://www.buseco.monash.edu.au/asg/agu/policies/written-assign.html#secmark Return of final marks The final mark that a student receives for a unit will be determined by the Board of Examiners on the recommendation of the Chief Examiner taking into account all aspects of assessment. The final mark for this unit will be released by the Board of Examiners on the date nominated in the Faculty Calendar. Applications for extension of time For information regarding extensions of time, please refer to http://www.buseco.monash.edu.au/asg/agu/policies/written-assign.html#extoftime Assessment tasks MKF1120 Marketing theory and practice - Semester 1, 2011 7 Assessment task 1 Title: Mid-Semester Assessment Learning objectives assessed: 1, 2 and 3 Weighting: 20% Criteria for assessment: This test will be based on materials covered during the first 5 weeks of semester, including lectures, tutorials and chapters one, two, five, six and seven of the textbook. Samples of the style of questions will be available on the unit’s Blackboard site during semester. Task details: During tutorials in week 6 of semester. The test will be held in a computer lab, details of location are available in Allocate+. You will have 45 minutes to complete this test. This is a closed-book multiple-choice test, to be completed online in a designated Monash computer lab during your scheduled tutorial time. Further details will be available on the unit’s Blackboard site in week 4 of semester. Due date: Week 6, in tutorials Return of marks: Results for the mid-semester test will be given to students by the end of week 7 via Blackboard, My Grades. • Assessment task 2 Title: Weekly Tutorial Exercises Learning objectives assessed: 1, 2, 3 and 4 Weighting: 15% Criteria for assessment: This is a series of individual assessment tasks, worth 15% of the marks in the unit (1.66 marks for each of the ten weekly written submissions). Task details: Each week during semester (except weeks 1, 6 and 12) there will be a “tutorial exercise” available for download from Blackboard. You are to complete the exercises every week prior to your tutorial, and bring typed answers to the tutorial (as evidence that you have completed the work prior to the tutorial). You will use your answers to contribute to the tutorial discussion, and you are encouraged to make further handwritten notes on your typed answer sheet during the tutorial. At the end of the tutorial your answers are to be handed to your tutor, who will assess them and return them to you in the following tutorial. Due date: Ongoing throughout semester - Weeks 2, 3, 4, 5, 7, 8, 9, 10, 11. Submission details: Tutorial exercises will only be accepted by your tutor, and only during your allocated tutorial time in the week that they are due. If you are absent from a tutorial without documented and appropriate evidence (e.g. medical certificate), then you will receive zero (0) marks for that week’s tutorial exercise. Late submission of tutorial exercise answers will not be accepted. Return of marks: • MKF1120 Marketing theory and practice - Semester 1, 2011 8 Weekly tutorial answers will be returned to students during tutorials the week following submission. Assessment task 3 Title: Essay Learning objectives assessed: 1, 2, 3 and 4 Weighting: 15% Task details: Your task is to write an essay, comparing and contrasting two offers (products): Prepare a 1,200 word essay (individual piece of work) which clearly discusses and illustrates the concept, both from a theoretical and an applied perspective. Your assignment should be fully and correctly referenced using the APA referencing style, and you should use at least five (5) sources of information - at least two of these should be from academic journals. To demonstrate your ability to apply theory to practice you must choose one of the following options. ♦ a) Village Gold Class cinema tickets for two people and an iPod touch or b) a 250mL can of Red Bull and a Collingwood Football Club Captains membership (adult) Your essay should include: A detailed description of each specific offer Using the theoretical construct of the the three levels of an offer as your framework ◊ ♦ A comparison and contrast of the two offers♦ This task requires you to write an essay. The format must be an essay – refer to the Q-Manual for further guidelines on our expectations of an essay. You are welcome to use headings within your essay if you wish. Remember that your essay should be fully and correctly referenced. Your essay should be approximately 1,200 words in length (±10%) excluding cover and title pages and references. Word limit: 1,200 words Due date: To be submitted during tutorials in week 10 of semester. Submission details: Submission instructions, further guidelines and marking criteria are available on the MKF1120 MUSO site. Return of marks: Assessed essays will be returned to students during tutorials in week 12 of semester. Penalties for late lodgement: • MKF1120 Marketing theory and practice - Semester 1, 2011 9 A penalty of 10 per cent of the marks available for this assessment task will be deducted for each day (or part-thereof) that the assessment is late. Assessment coversheet: Work submitted for assessment must be accompanied by a completed copy of the Faculty Cover Sheet which has been signed by the student. NO assignment will be accepted or marked if it is not accompanied fully completed and signed Faculty Assignment Cover Sheet. If the assignment is submitted with an incomplete or unsigned Faculty Assignment Cover Sheet will be deemed as late and incur late penalties until the cover sheet is completed correctly. http://www.buseco.monash.edu.au/student/forms/index.html Examinations Examination 1 Weighting: 50% Duration: 2 hours Type (open/closed book): Closed book Materials examinable: All materials are examinable including tutorial questions, lecture notes, and material from identified sections of the textbook. The exam will be a combination of short essays and short answer questions. Exact details concerning the structure of the exam will be posted on the unit MUSO site by Week 11. Past exam questions will be available on MUSO later in the semester. Solutions to past questions are not available; however students are able to discuss their understanding of these questions with tutors during tutorials and exam consultation times. Solutions to questions will not be graded. • Special consideration For information regarding special consideration, please refer to the appendix at the end of this Unit Guide. MKF1120 Marketing theory and practice - Semester 1, 2011 10 Assessment criteria - grading descriptors table High Distinction (80%+) Distinction (70 - 79%) Credit (60 - 69%) Pass (50 - 59%) Fail (Less than 50%) General description Outstanding or exceptional work in terms of understanding, interpretation and presentation A very high standard of work which demonstrates originality and insight Demonstrates a high level of understanding and presentation and a degree of originality and insight Satisfies the minimum requirements Fails to satisfy the minimum requirements Reading Strong evidence of independent reading beyond core texts and materials Evidence of reading beyond core texts and materials Thorough understanding of core texts and materials Evidence of having read core texts and materials Very little evidence of having read any of the core texts and materials Knowledge of topic Demonstrates insight, awareness and understanding of deeper and more subtle aspects of the topic. Ability to consider topic in the broader context of the discipline Evidence of an awareness and understanding of deeper and more subtle aspects of the topic Sound knowledge of principles and concepts Knowledge of principles and concepts at least adequate to communicate intelligently in the topic and to serve as a basis for further study Scant knowledge of principles and concepts Articulation of argument Demonstrates imagination or flair. Demonstrates originality and independent thought Evidence of imagination or flair. Evidence of originality and independent thought Well-reasoned argument based on broad evidence Sound argument based on evidence Very little evidence of ability to construct coherent argument Analytical and evaluative skills Highly developed analytical and evaluative skills Clear evidence of analytical and evaluative skills Evidence of analytical and evaluative skills Some evidence of analytical and evaluative skills Very little evidence of analytical and evaluative skills Problem solving Ability to solve very challenging problems Ability to solve non-routine problems Ability to use and apply fundamental concepts and skills Adequate problem-solving skills Very little evidence of problem-solving skills Expression and presentation appropriate to the discipline Highly developed skills in expression and presentation. Well developed skills in expression and presentation. Good skills in expression and presentation. Accurate and consistent acknowledgement of sources. Adequate skills in expression and presentation Inadequate skills in expression and presentation. Inaccurate and inconsistent acknowledgement of sources. Source: University of Adelaide 2005 MKF1120 Marketing theory and practice - Semester 1, 2011 11 Appendix Please visit the following URL: http://www.buseco.monash.edu.au/unit-guide/appendix.html for further information about: Continuous improvement• Assessment policy• Grading Scale policy• Special consideration• Plagiarism, cheating and collusion• Plagiarism register• Non-discriminatory language• Students with disabilities• Using the University’s computer and IT facilities• Faculty policies• Related links• MKF1120 Marketing theory and practice - Semester 1, 2011 12