Module Code - Title:
MP6041
-
NEW VENTURE MARKETING AND SALES STRATEGIES
Year Last Offered:
2023/4
Hours Per Week:
Grading Type:
Prerequisite Modules:
Rationale and Purpose of the Module:
This module provides students with an understanding of the contemporary marketing practices and sales strategies appropriate for the various stages of new venture formation and growth. It explores the components of product and service marketing and sales (product/service offering; customer buying behaviour, pricing, promotional, branding and ebusiness activities and route to market) to asses how they can be applied in an integrated manner to develop, implement and evaluate an international marketing strategy.
Syllabus:
A number of marketing definitions are reviewed in the context of contemporary advancements in marketing and the ensuing opportunities and challenges for small and medium enterprises. The importance of developing a competitive value proposition and the use of branding as a means of creating sustained customer value are reviewed. The importance of ongoing customer relationship management is explored. Traditional and new digital media promotional techniques are evaluated as the basis of developing an integrated communications strategy to address all stakeholder group requirements in national and international markets. The different types of selling situations and the stages of the selling process (preparing the sales pitch, making the pitch, dealing with rejection, follow up and managing the sales pipeline) are discussed. The various routes to local, national and international markets are evaluated for consumer and B2B markets in different cultural country contexts.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
Comprehend the principles of effective marketing practices as they apply to the various states of new venture growth and expansion.
Understand the working knowledge on the stages and milestones involved in devising, implementing and evaluating a marketing strategy to achieve sustained international small and medium firm growth.
Develop and resource a sales plan with clear metrics for its evaluation.
Implement techniques for target audience profiling for consumer and B2B markets.
Understand the sources of support and assistance available for owner-managers in the development of a marketing strategy for international firm growth.
Affective (Attitudes and Values)
Proficiency in the design, maintenance and evaluation of sales strategies and enhanced selling and presentation skills
The ability to network in different business contexts
Advanced skills in designing successful communication and promotional campaigns using limited financial budgets
Professional report writing and editing skills necessary for the creation of an effective sales plan and an integrated marketing strategy.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
Hands on experience in the design of a sales plan and sales pitching experience to a panel of customers.
The design of a marketing strategy, containing budgets, implementation and evaluation milestones for a small and medium firm.
Research Findings Incorporated in to the Syllabus (If Relevant):
Applied research in industry, market and customer analysis to facilitate sales and marketing decisions.
Conceptual research techniques suitable for evaluation of alternative international marketing strategies.
Project management techniques through the completion of a marketing strategy for a new venture.
Prime Texts:
Jobber, David (2010)
Foundations of Marketing
, McGraw Hill, London
Manning, S., Ahearne, M., and Reece, B. (2011)
Selling Today
, Pearson Publications, USA
Other Relevant Texts:
Cook, Nicola (2010)
The Secrets of Success in Selling -12 Ways to achieve Exceptional Results
, Pearson Publications, USA
Reed, J. (2010)
Get Up To Speed with Online Marketing
, Pearson Publications, London
DeBurca, S., Fletcher, R. and Brown, L. (2010)
International Marketing - An SME Perspective
, Prentice Hall, Financial Times, UK
Programme(s) in which this Module is Offered:
Semester - Year to be First Offered:
Module Leader:
Briga.Hynes@ul.ie