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This subject prepares graduate engineers to practice basic marketing in the engineering profession where there is a mutual need and reliance upon their training and skills in both engineering and marketing to satisfy the needs, wants and demands of the market, internally within the organisation, and through the entire supply chain.
This subject provides an introduction to the basic concepts of marketing, marketing management and marketing engineering. Some of the principal topics include: what is marketing engineering; differences between engineering and consumer products; designing and managing engineering services; sales engineer and managing sales force; online marketing and the internet of things; business-to-business markets; business-to-government markets; company orientation; corporate division and strategic planning; market positioning, segmentation and targeting; marketing mix (product, pricing, place and promotion); marketing plan and strategies; SWOT analysis, understand the legal, economic, sociocultural, natural and technological environments; distribution channels; communications, models and simulations; decision tools; databases and data mining, forecasting; theory and evidence-based decision making; etc.
Intended learning outcomes
INTENDED LEARNING OUTCOMES (ILO)
On completion of this subject the student is expected to:
- Analyse the fundamental principles involved in managing engineering and technological markets
- Understand and develop product, pricing, placement and promotion strategies for engineering services and technological products
- Understand and develop market segmentation and market positioning strategies for engineering and technology markets
- Explain the critical importance of marketing for superior business performance in engineering and technological enterprises
- Analyse market problems and be capable of applying relevant models to generate appropriate solutions to meet challenges in engineering and technological enterprises
- Analyse engineering and marketing data and make informed choices
- Understand and develop a strategic marketing plan for engineering services and technological products
- Understand the code of ethics and professional conduct
- Understand the interrelationships between market trends, innovation, sustainability and communication in engineering and technological enterprises
- Understand how marketing principles, such as branding, can be applied to ensure success in engineering and technological enterprises
- Understand how to market engineering services such as an engineering consultancy, identify business opportunities, build and maintain client networks
- Understand marketing strategies such as collaboration, joint ventures, diversification, integration, and divestment
- Understand how the core competencies of companies can contribute to competitive advantage.
On completion of this subject students should be able to:
- Understand the nature of organisations and how they position themselves in the community as a market
- Be able to apply strategic marketing principles to engineering practice and design
- Appreciate the importance of both technical and social issues that contribute to successful engineering practice including an understanding of market behaviour, demand and supply.
Last updated: 18 December 2020