| Semester 1, 2022 Toowoomba On-campus | |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Business |
| Grading basis : | Graded |
| Course fee schedule : | /current-students/administration/fees/fee-schedules |
Staffing
Examiner: Michael Gardiner
Requisites
Enrolment is not permitted in MKT2015 if MKT2012 has been previously completed.
Overview
The value in marketing is often understood as the consumer鈥檚 perceived value of the product (goods and services). Their perception of the product includes more than just the objective product 鈥� the product unrelated to them. So, the product they perceive has an extra subjective component. When the consumer subjectively perceives the value of the product, it can include a higher or lower value to them. In this course, we explore ways in which the producer can create or extend the value that the consumer perceives. In doing so, we will also explore the producer鈥檚 perception of value about the goods and services that they produce.
The crux of marketing theory and practice is about the exchange of value. This course explores the concept of value creation and management. On the journey, the students develop an appreciation for the objective and subjective dimensions of value, and explore factors influencing the production and management of value and its purpose in the exchange. At the conclusion of the course students should have an understanding of products presented to the market, and the value components used by the parties involved in a successful exchange, which are elements all business professionals, accountants, engineers, psychologist and communicators must have an appreciation for the value they develop and present to the market.
Course learning outcomes
On successful completion of this course, students should be able to:
- review, interpret and discuss marketing value鈥檚 theories, concepts, and practices, and apply these to real-world marketing organisations;
- perform a comprehensive value analysis for any given product and market exchange and justify recommendations for managerial action in the contemporary business environment;
- locate, evaluate, and use information effectively while citing sources appropriately and apply a range of writing styles. (The different writing styles are 鈥� descriptive, persuasive, and narrative);
- problem-solve, plan, make decisions, and apply ethical consideration through the application of theory, to a student selected real-world marketing organisations;
- participate effectively as a team member and contribute within the collaborative environments to produce outcomes.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Reflection and development of critical distance in reviewing foundation marketing theory | 5.00 |
| 2. | Introduction to value, products, and exchange types | 10.00 |
| 3. | Value, ethics and corporate social responsibility | 10.00 |
| 4. | Product type implications on value | 10.00 |
| 5. | Exchange type implications on value | 10.00 |
| 6. | Value creation (co-creation, co-production, and other value dimensions) | 15.00 |
| 7. | Product development process | 10.00 |
| 8. | The role of pricing in the value exchange | 10.00 |
| 9. | The role of channel design in the value exchange | 10.00 |
| 10. | Sustain value for suppliers and buyers | 10.00 |
Text and materials required to be purchased or accessed
Student workload expectations
To do well in this subject, students are expected to commit approximately 10 hours per week including class contact hours, independent study, and all assessment tasks. If you are undertaking additional activities, which may include placements and residential schools, the weekly workload hours may vary.
Assessment details
| Description | Weighting (%) | Course learning outcomes |
|---|---|---|
| ASSIGNMENT 1 | 15 | 1,3,5 |
| ASSIGNMENT 2 | 40 | 1,2,3,4,5 |
| ASSIGNMENT 3 | 45 | 1,2 |