Marketing in Practice
Marketing in Practice 2022-23
Bangor Business School
Module - Semester 2
The content covered will depend on the specifics of the simulation package but will related to core marketing theory such as the 7Ps (Product, Price, Promotion, Place, People, Process, and Physical evidence). Typical simulations will focus on analysing the marketplace and how the marketplace evolves across time, how to set strategy for the company and make tactical actions regarding implementing marketing strategies and reflection on performance. The simulation game will utilize knowledge gained from the contents covered in the Foundations in Marketing module. Group-based exercises in the workshop sessions will be utilised to develop teamworking and interpersonal skills.
-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A (70% +):* Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
- Apply effective planning and management skills.
- Appreciate the relevance of marketing theories and concepts to marketing practice.
- Demonstrate effective team working, interpersonal skills and wider business awareness.
- Examine and understand some of the intricacies of operating a business.
- Formulate and implement strategic decisions as required to complete the simulation exercise.
- Understand the impact of the team’s decisions on business performance.
Group Simulation Exercise: Each group will be given a mark for their performance on the simulation rounds. This component is assessed by measures such as profit made and other strategic decisions that are required in the simulation exercise.
The presentation should outline rationale for the decisions taken across the simulation rounds as well as the results of each round.