ENTREP 2002 - New Venture Marketing

North Terrace Campus - Semester 1 - 2018

The aim of this course is to enable students from a variety of backgrounds to understand how to develop and operationalise a marketing plan for new ventures. The skills and knowledge learnt will enable a student to identify which marketing techniques and theories are most suitable for new ventures, no matter whether they are a new business or within an existing organisation. Objectives: On completion of this course, students should be able to; Describe the contents of a marketing plan; Develop their own marketing plan suitable for a new venture; Operationalise a marketing plan and undertake basic marketing activities. Syllabus: Market segmentation, Product selection, Pricing decisions, Distribution and Promotional strategy and activity

  • General Course Information
    Course Details
    Course Code ENTREP 2002
    Course New Venture Marketing
    Coordinating Unit Entrepreneurship, Commercialisation & Innov Centre
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Intensive: 36 to 40 hours
    Available for Study Abroad and Exchange Y
    Course Description The aim of this course is to enable students from a variety of backgrounds to understand how to develop and operationalise a marketing plan for new ventures. The skills and knowledge learnt will enable a student to identify which marketing techniques and theories are most suitable for new ventures, no matter whether they are a new business or within an existing organisation.
    Objectives:
    On completion of this course, students should be able to; Describe the contents of a marketing plan; Develop their own marketing plan suitable for a new venture; Operationalise a marketing plan and undertake basic marketing activities.
    Syllabus:
    Market segmentation, Product selection, Pricing decisions, Distribution and Promotional strategy and activity
    Course Staff

    Course Coordinator: Dr Wendy Lindsay

    Program Director Contact Details: Innovation and Entrepreneurship
    Name: Dr Wendy Lindsay
    Email: wendy.lindsay@adelaide.edu.au

    Teaching Staff

    Name: Dr Hermina Burnett

    Email: hermina.burnett@adelaide.edu.au
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course, students will be able to:
    1 Apply marketing theory and principles, especially in the context of entrepreneurial marketing as distinct to traditional marketing
    2 Conduct detailed market research (primary and secondary) and be familiar with environmental scanning techniques
    3 Undertake market segmentation, identify customers and competitive forces
    4 Apply the theoretical market analysis tools to develop an understanding about successful and unsuccessful marketing techniques and strategies
    5 Develop tailored marketing strategies appropriate to different products/services in new ventures
    6 Develop an Integrated Promotion Plan, a marketing Campaign and/or strategic Marketing plan for a new venture opportunity
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1, 2, 3, 4
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1, 2, 3, 4, 5, 6
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    5, 6
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1, 2, 4, 5, 6
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • Able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    3, 5
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    4, 5, 6
  • Learning Resources
    Required Resources
    No text book is required for this course


    The following readings will be made available through MyUni:

    Aaker, D.A. and Mills, M.K., 2005, Strategic Market Management, Wiley, Australia. Chapter 10

    Allen, K.R., 2009, Launching New Ventures, 5th edition, Houghton Miffilin Company, US.
    Chapter 15

    Crane, Frederick G. 2013, Marketing for Entrepreneurs, Concepts and Applications for New Ventures, 2nd edition, Sage.
    Chapter 10

    Frederick, H, O’Connor, A and Donald F. Kuratko, 2013, Entrepreneurship, theory and practice, 3rd edition, Centage, Australia. Chapter 10

    Hill, C.W.L., Cronk, T and Wickramasekera, R., 2008, Global Business Today, McGraw-Hill, Australia. Chapter 11

    Schaper, M, Volery, T, Weber, P and Lewis, K., 2011, Entrepreneurship and small business, 3rd Asia-Pasific edition, Wiley, Australia. Chapter 6
    Recommended Resources
    In addition to the above reading list, there is a broad range of materials that cover and complement the topic areas discussed in this course. A reading list will be available on MyUni to assist you with sourcing and locating additional materials. There is no prescribed text that you must obtain, but as a general text, I recommend:

    Crane, Frederick G. 2013, Marketing for Entrepreneurs, Concepts and Applications for New Ventures, 2nd edition, Sage.

    Or there is of course the classic overall text on Marketing:

    Kotler, P, Burton, S, Deans, K, Brown, L & Armstrong, G 2012, Marketing, 9th edition, Pearson.

    Library Resources
    The University of Adelaide’s Barr Smith Library provides a range of learning resources including texts, journals, periodicals, magazines, and access to online databases and information services. It also offers a virtual library which is accessible via the University’s website. Access to the Library's electronic resources.

    Online Learning
    MyUni is the University of Adelaide's online learning environment. It is used to support traditional face-to-face lectures, tutorials and workshops at the University. MyUni provides access to various features including announcements, course materials, discussion boards and assessments for each online course of study.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    This course is offered in blended learning mode with the face-to-face component offered as intensives.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    As a guide, a 3 unit course comprises a total of 156 hours work (this includes face-to-face contact, any online components, and self directed study).
    Learning Activities Summary
    This is a draft schedule, that may change during the course delivery if necessary.
    Session Content
    1 Introduction
    2 Exploring the Marketing Process
    3 Creativity and Marketing
    4 Market Research
    5 External Influencers
    6 Identifying the customer
    7 Reaching the Customer
    8 Developing a Buyer Matrix Model – Buyer Matrix Exercise
    9 Customer Relationships Management
    10 Marketing Opportunity Proposals
    11 Review
    12 Marketing Mix
    13 Developing a marketing plan
    14 Ethical Marketing… is it possible?
    15 Successful Marketing Strategies
    16 Strategy Options
    17 Branding
    18  The Integrated Promotion Plan
    19 Entering global markets
    20 Strategic Marketing Team project – Class Presentations of team projects
    21 Wrap up and review
    Specific Course Requirements
    This course requires you to present mature and well-reasoned work that addresses the principles of marketing, marketing strategies and marketing applications in a professional business context. Of prime importance is to show insight into marketing strategies and take a critical approach in the design and development of a marketing research project or market strategy report.

    You will need to read more widely on the topic then the list of references provided and beyond hits found on Google or YouTube.

    Your work will need to be succinct and clearly written and presented. Do not labour the point, regurgitate theory or address irrelevant issues. Appropriate examples or cases may be used to illustrate your point as they can serve to strengthen your arguments.

    Keep to the word limits and do not ramble. In every instance present your work as if it is a submission to a Board of Directors – succinct, clear, structured and reasoned.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    An overview of the course assessment appears in the following Table. Details appear in the following section:
    #AssessmentLengthWeightingLearning Outcomes
    1 Marketing Proposal (Individual) 2-minute oral proposal plus
    750 word written proposal
    (2 pages)
    10%
    (5% oral presentation &
    5% written proposal)
    1, 2, 3, 5
    2 Marketing Challenge (Team) Report max. 3500 words
    (10 pages)
    30%
    (10% oral presentation &
    20% written report)
    1, 2, 3, 4, 5, 6
    3 Examination of theory (Individual) 2-hour 30% 1, 2, 3, 4
    4 Strategic Marketing Project (Individual) Report max. 2500 words
    (7 pages)
    30% 1, 2, 3, 4, 5, 6
    Total 100%
    Assessment Related Requirements
    It is expected that assignments will be typed, using word processing software such as Microsoft Word. Submit your assignments as per the instructions in the following section.

    Font 12, Line spacing of 1.5 lines.  If software other than Microsoft Word is used, the file format must be one that can be read using Word, such as .doc or .rtf (rich text format).

    Please note: PDF (Acrobat) format is not acceptable unless accompanied by an editable Microsoft Word document or similar.

    All assignments may be scrutinised using Turnitin.

    Students should attend all classes in order to pass the course. There is considerable experiential learning in workshops during the intensive classes that build your knowledge and thus enable you to be successful in this course.

    Course results are subject to moderation by the ECIC Board of Examiners
    Assessment Detail
    Assessment 1: Marketing Opportunity Proposal (Individual assignment)
    Weighting: 10% (5% Oral presentation and 5% written proposal)
    Task: This assignment comprises a two minute oral presentation in class of a marketing proposal for a new product (or service).

    You are required to present your marketing ideas to an interested audience with the primary aim to win support and conduct detailed market research on it. This is also your chance to attract team members for assignment two and showcase your skills and abilities. The idea (product or service) is to be positioned as a real business case and you will need to convince your audience of the perceived potential market share for it.

    The written proposal should address at least all the points included in your presentation and further include an outline of the tasks to be undertaken to conduct further market research on this product/service.


    Assessment 2: Marketing Challenge (Team assignment)
    Weighting: 30% (Oral presentation: 10%  Report 20%)
    Task: This is a group assignment undertaken by a minimum of 2 and maximum of 4 students.

    Choice 1
    Undertake an online research project analysing a number of successful and failed marketing strategies.

    Choice 2 
    Develop a Marketing Campaign for the branding of a new product that can enter the international market. (product needs approval of the lecturer)

    Note*: During the second intensive your team will be given an opportunity to share and present a summary of your analysis in the form of a Pecha Kucha presentation. Please, base this presentation on clearly articulated conclusions drawn from your research and analysis. A PECHA KUCHA format consists of 20 slides x 20 seconds and is based on visuals with very few words; please go to the link www.pechakucha.org to view examples.

               
    Assessment 3: Strategic Marketing Project (Individual)
    Weighting: 30%
    Task: Based on desk research and survey interviews (primary market research) with business owners and/ or (potential) customers
    you may introduce a new product to the market and design a Marketing Plan or research an existing product that currently caters for a niche market (e.g. gluten free pasta, pink diamonds, model aeroplanes, boutique brewed beer and design an Integrated Promotion Plan.

     
    Assessment 4: Exam (Individual)
    Weighting: 30%
    Task: You will be expected to complete a combination of short answer and essay type questions.
    Submission
    All text based assignments must be submitted via MyUni.
    Please refer to step by step instructions: MyUni Learning Centre

    There are a few points to note about the submission of assignments:
    • Assignment Submission:  Assignments should not be emailed to the instructor; they must be lodged via the MyUni Course site (unless specified to do both). Note that assignments may be processed via TURNITIN, which is an online plagiarism prevention tool.
    • Cover Sheet:  Please include in the assignment a completed University of Adelaide Assessment Cover Sheet providing details of yourself and your team members (if applicable), your assignment, the course, date submitted, etc. as well as the declaration signed by you that this is your (your team’s) work.  Note that the declaration on any electronically submitted assignment will be deemed to have the same authority as a signed declaration.
    • Backup Copy of Assignments:  You are advised to keep a copy of your assignments in case the submitted copy goes missing.  Please ensure that all assignment pages are numbered. If your assignment contains confidential information, you should discuss any concerns with the Course Lecturer prior to submission.
    • Extensions of Time:  An application for Assessment Extension should be made well before the due date of the assignment to the Course Lecturer.  Normally, extensions will only be granted for a maximum of two weeks from the original assignment submission date.  Extensions will only be granted in cases of genuine medical, compassionate or extenuating circumstances.
    • Failure to submit: Failure to submit an assignment on time or by the agreed extension deadline may result in penalties and may incur a fail grade.  Note that a late penalty of 5% of the total available marks for that assessment item will be incurred each day an assignment is handed in late (Unless otherwise stated in 'Assessment Related Requirements' or 'Assessment Detail' above). Assignments handed in after 14 days from the due submission date will fail even if a 100% mark is granted for the work.

    Resubmission & Remarking

    Resubmission of an assignment for remarking after reworking it to obtain a better mark will not normally be accepted.  Approval for resubmission will only be granted on medical or compassionate grounds.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

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