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Business Management: Marketing

Business Management: Marketing Principles
and Practice

 

Learn how to apply key marketing techniques to enhance your work performance

From understanding customer behaviour, designing products and services that meet customer needs to understanding the external environment and using data to inform business decisions – marketing principles and best practice tools can be used to solve management problems in a diverse range of professional contexts.

Whether you work in a commercial or non-commercial industry, not for profit or government department, as a management professional it’s vital to have a solid understanding of the value of marketing and its impact on different business functions.

On this microcredential, you’ll be introduced to the core principles of marketing – covering digital and non-digital perspectives. You’ll enhance your marketing knowledge and discover best practice approaches that will help to inform your professional decision-making, improve your effectiveness and adapt your approach to solving business challenges.

Underpinned by the latest academic thinking, you’ll cover practical examples of marketing in action taken from a wide range of contexts – from manufacturing and retail to professional services and healthcare. With practical learning accounts from diverse international brands and organisations to local charities and social enterprises.

You’ll also build a toolkit for creating products and services that meet your customer's needs and that differentiate your product or service from your competitors’.

Key features

  • Delivered in partnership with the worldwide online learning platform, FutureLearn.
  • Gain marketing and management knowledge and skills that you can immediately apply to your work.
  • Options to shape your learning to address specific business and marketing needs.
  • Created by leading academics who bring a wealth of experience in successfully delivering. internationally recognised business and management qualifications.

 

Course summary

Microcredential
Code
BZFM301
Credits
10
Study level
OU – Undergraduate
SCQF – 10
FHEQ – 6
Duration
10 weeks | 10 hours per week
Cost
£450
Next start date
02 November 2020

What you’ll learn

Underpinned by the latest academic thinking, you’ll cover practical examples of marketing in action taken from a wide range of contexts – from manufacturing and retail to professional services and healthcare. With practical learning accounts from diverse international brands and organisations to local charities and social enterprises.

You’ll also build a toolkit for creating products and services that meet your customer's needs and that differentiate your product or service from your competitors’.

On this microcredential, you’ll cover the following topics:

Week 1: The role of marketing
Marketing tools and methods can be applied in a diverse range of businesses and organisations, including commercial, not-for-profits and government departments. Week 1 encourages you to consider the wide application of the concepts (both digital and non-digital) that this course will cover and how these can be applied to marketing plans.

Week 2: Marketing in a complex world – external factors
You'll develop your competence in the methods you can use to understand and interpret key economic, social, technological and political trends in order to inform marketing decisions.

Week 3: Understanding & influencing consumer behaviour & decision making
You will develop essential skills in understanding customer motivations, specifying decision making processes that include digital and non-digital resources and identifying the personal and social influences on the choices that customers make.

Week 4: Gathering and interpreting data to inform marketing decisions
Effective marketing decision making is underpinned with effective use of marketing research. You will develop proficiency in asking the right questions and interpreting the ensuing answers, the contexts will include interviews, focus groups, projective techniques, digital sources and surveys. By the end of the week you will be able to assess insights from both qualitative and quantitative data sources.

Week 5: Choosing your customers - targeting, segmentation, positioning and differentiation
You will master the tools necessary to assess how you can focus on people with whom the most mutually beneficial exchanges can be undertaken. You will also learn how to position your offering in relation to competitors so that potential customers can best appreciate what makes you special.

Week 6: Creating winning propositions for customers
By the end of this week you will have a toolkit that can be used to design products and services that meet customer needs, that differentiate your offer from those of competitors and which overcome customers’ perceptions of risk. You'll focus particularly on the ways which customers can be empowered to add meanings and value to your offering, especially in a digital context while at the same time helping manage your costs.

Week 7: Delivering value to customers and the role of digital marketing
How can you best work with industry partners to deliver value to your customer? This week you will master the key frameworks and tools that you can use in order to identify the different functions your organisation can perform in the digital and non-digital value delivery process. You'll discover how these can be most effectively complemented by your channel partners in order to deliver maximum value to your final customer as well as mutual benefits for everyone in the delivery process.

Week 8: Persuasive communications and social media
How and what we communicate depends on context. In previous weeks you will have been introduced to the methods you can use in order to better understand the specific managerial challenges that you face. This week we will provide you will the skills necessary to develop understand your communication needs and then how you can design persuasive communications in both digital and non-digital contexts.

Week 9: Pricing strategies
You will be able to move beyond the simple mechanics of setting prices to gaining an ability to use proven methods for influencing how customers perceive your prices as ones that they would be happy and willing to pay. You will also master the methods that can be used to encourage different customers to pay different prices for the same offering. Our coverage will also deal with situations where there are no obvious prices to be charged and embedded throughout will be considerations of ethics and fairness.

Week 10: Marketing planning and effective relationships
A key feature of this course is to remove references to lazy prescriptions. A focus on relationships can be fashionable, but we provide you will the tools necessary to understand when and how relationships may be effective and when alternative methods of undertaking exchanged will be more valuable for both you and those who you deal with.

By the end of the course, you’ll have learnt how to:

  • Solve a range of commercial and non-commercial marketing problems using appropriate tools and concepts
  • Apply the latest tools of product and service design, distribution management and pricing to real situations
  • Collect relevant information for marketing decision making
  • Interpret a variety of different types of information from different information sources
  • Evaluate and implement appropriate exchange methods, including relationships in different situations.

Assessment

Week by week you’ll be provided with succinct summaries of the key concepts, tools and techniques – along with best practice templates. Each week you will complete a short report, which should take no more than 2 hours to complete. These reports will add up on a weekly basis so that by the end of the course you will have a 2000 word report to submit for assessment. You will be provided with options to allow you to focus your learning and assessment on specific business and marketing needs.

Professional relevance

This microcredential will increase your confidence in applying marketing principles to your work and using marketing concepts, tools and techniques to solve business problems. In particular, it will enhance the skills and employability of:

  • Professionals who would like to progress to management level.
  • Professionals who are new to a marketing role or work in marketing but lack formal qualifications.
  • Senior professionals looking to develop their marketing and management skills.
  • Self-employed professionals looking to develop their skills and knowledge of marketing to develop their business and achieve their goals.

On completion

You’ll receive an Open University certificate confirming that you have received 10 academic credits at undergraduate level 3. Credits are awarded on passing the final assessment.

Regulations

As a student of The Open University, you should be aware of the content of the academic regulations, which are available on our Student Policies and Regulations website.
 
 

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