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MSc - Advanced Marketing
Marketing Strategies for Single- and Double-sided Markets
Marketing is not just a profession; it is an art, too. Marketing combines creative and communicative skills and has strong roots in critical strategic and analytical thinking at the same time. This makes marketing interesting, but also complex.
The last two decades have changed marketing tasks significantly and marketers need to be up-to-date with their capabilities and knowledge. Consumers have become a market power. Concepts such as post-modern consumers, tribalism, but especially the technologisation of the marketing context have shaped a new and very different marketing agenda, which is addressed in the individual modules. In addition to these direct requirements the increasing request for respecting ethics and the environment, two of the attributes at the core of the request for sustainable (marketing) management, are permanently embedded in the taught content. This awareness adds to the Degree's objectives to offer students the highest standards in marketing knowledge.
The MSc - Advanced Marketing provides students with the latest knowledge on marketing for the physical place, e- and mobile marketing.
Degree Programme Objectives
The marketing discipline has seen most significant changes in the last two decades, but has not been fully able to meet these in the same speed. The mission of the course is to embrace the radical changes and to adopt the new market(ing) realities consequentially. This leads to a distanced and critical consideration contrasting old theory with new approaches, which are expected to have more power and relevance for students and graduates, who have to work and manage the new complexities.
The programme is designed and structured to build a sound understanding of the key areas of strategic, tactical and function-oriented best practice in the complex and challenging environment of global markets in the 21st century. Its vision is to provide the necessary backgrounds and future-oriented paths for managers and students, who are seeking their careers in the marketing function.
Key marketing skills and specific tools and techniques are taught, which support students in their management roles to improve the performance of both their organisations and employees in turbulent and hyper-competitive marketplaces. The course’s objective is to enable students of the MSc - Advanced Marketing to apply their knowledge gained to the specific market(ing) situations of organisations.
Benefits
Shared aims unite the modules in the MSc - Advanced Marketing. These common aims are:
- Understand current practices and issues in Marketing and to apply this knowledge and understanding in practical terms.
- Apply effectively analytical and critical evaluation skills.
- Undertake the formulation and apply problem-solving skills for all levels of Marketing.
- Critically understand the various philosophies and methods of research and selection of the most appropriate application to solve Marketing’s strategic, tactical and operational problems.
- To develop the reflective manager engaged in a lifelong cycle of learning, who respects corporate responsibility and sustainability by high standards of moral actions and ethical behaviour.
Programme Content
Introduction
Rochet at al. (as other researchers, too) have addressed a phenomenon, which many organisations just start to discover, the recognition that “many markets are multisided leads to new and interesting positive and normative questions”. In a nutshell, this module explores that market values are not only created by organi- sations offering products to customers. Contemporary marketing also takes ad- vantages from customers, who are offering new products, concepts and ideas to them. Whether Open Innovation, which, e.g., Procter and Gamble uses success- fully, or whether it is about Amazon and Ebay, who interact with professionals, semi-professionals or individuals the old game is the new game – creating values by improved offers and generating profits. However the game’s rules are different and underpinned by a different set of strategies in their own right.
While traditional organisations still think in terms of single-sided markets, organia- tion to consumer, post-modern organisations allow interactions among consum- ers and customers, with the organisation itself and interfere mainly as providers of the necessary platform for such interaction.
This phenomenon will gain much importance in the future value generation for organisations and extend its reach and scope, but will also require, as Rochet et al. expressed, a different mindset for marketers. Value creation becomes a multi- facetted way of exploring markets and gaining market share.
This module discovers the secrets behind double-sided markets, contrasts these against their one-sided counterpart and discovers the deep meaning for the fu- ture-oriented marketing needs. It is also a first approach to gain a different un- derstanding of a business or industry becoming an ecosystem. The ecosystem concept will be a frequent companion during the whole course.
Learning Outcomes
Students should be able to:
- Differentiate between single- and double-sided markets
- Appreciate the multidisciplinary nature of marketing strategies
- Evaluate and apply different ways of value creation for an organisation by a strategic approach to new forms of marketing with a multitude of constituents
Set Texts
This module is exclusively based on latest research papers from academic jour- nals. These are made available prior to the module and/or disseminated during the teaching. Students will work on these papers as an in-depth exercise to trans- late academic research into practice-oriented meaning for organisational value creation.
