Economic: 1 hour Class Test - 34% weighting.
A third of the 15 credits module as a whole. Learning Outcomes 1 and 2.

This will take the form of a written, one hour test, at the end of the semester, during the assessment period.

Marketing Management: One individual assignment of 2000 words - 66% weighting, which synthesizes and critically evaluates current theory and its practical application to a marketing problem or issue
Two-thirds of the 15 credits module as a whole. Learning Outcomes 3, 4 and 5.

It is required that no part of the assessment within the module falls below 30% (Grade 3).

This module will explore the effects of the external business environment on the performance and function of organisations with a particular emphasis on marketing. It aims to introduce a broad range of marketing concepts and provide a theoretical framework of marketing management. This module will provide the foundation for further study in subsequent marketing modules. It will include the following topics:

- Overview and Introduction: the significance of the economic performance to the customer, operations and profitability of organisations.
- Market structure: this will analyse the structure, conduct and performance of firms. There will be emphasis on the relationship between competition and firm behaviour. In addition there will be a critique of the Neo-classical and 'Five Forces' model with the resource-based theory of the firm.
- Prices and costs: this will assess the role of costs in organisational efficiency and relate this to prices in markets. The role of price elasticity is stressed in forecasting demand and delivering supply in complex market situations.
- The macro-economy and the firm: the importance of international trade, exchange rates, interest rates and government regulation will be given emphasis in this section.
- The application of the marketing concept to a variety of business organisations.
- Changing environmental influences on marketing management.
- Buyer behaviour, market segmentation, targeting and positioning and impact on innovation
- Marketing research and use of market information for marketing decision-making.
- Marketing mix - analysis of the mix elements, including new product development
- Marketing Planning and Strategy.

Module Handbook
Recommended Texts and Journals
Library resources and e-journals
Internet and e-mail
Weblinks
Case studies
PC with Office software
Videos

The learning strategy for the module requires students to commit 150 learning hours (including assessment) of which 36 hours will be class support and 114 hours will be independent and self-directed study. Whilst the tutor will input some essential ideas on the main issues, candidates will be expected to carry out research and take part in-group discussions to develop these ideas.

There will be a mixture of activities including conventional lectures, case studies, videos, in-class group discussions, individual and group problem solving outside class, directed reading and problem solving outside class and self-directed learning.

Mulheam C, 2001, Economics for Business, Basingstoke: Palgrave.

Kotler, P and Keller, K.L. (2007), Marketing Management, Pearsons Prentice Hall.

NB: Current and/or suitable texts will be used to replace the previous editions when available.