This module introduces the student to key topics in business models and marketing. The module is broken into two elements: Business Models and Marketing.
The module introduces the student to the concept of business models. A business model is at its most basic a description of how a firm creates value for its customers. It is about how a firm designs itself to deliver a product or service a customer needs; how it gathers together and organises the resources and capabilities to create the product or service for the customer; and how it makes money from doing so. It is a simple way to think about and model the strategy of a firm and how to communicate this to its employees, customers, suppliers, investors and the wider stakeholder community. This element is structured into four main themes, which answer the questions below:
1) What is a business model of an organisation?
2) What are the main types of business models?
3) How do we assess potential profitability of a business model?
4) How do we design, implement and innovate business models to create value for the firm and its stakeholders?
The module provides an introduction to the principles and concepts of marketing and serves as a foundation for more advanced subjects in the field of marketing and sales. This element of the course is structured into the following themes:
1) Consumer Buyer Behaviour (including consumer analysis and purchasing behaviour);
2) Product and Brand Management;
3) Pricing Decisions and Distribution Channels;
4) Marketing Communications and Promotion Methods.