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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 in a sustainable manner.
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. The principles of sustainability will apply throughout the subject.
Intended learning outcomes
On completion of this subject the student is expected to:
- Analyse the fundamental principles involved in managing engineering and technological markets and apply these to engineering products and services.
- Analyse market problems, engineering data, marketing data, conduct market research, and be capable of applying relevant models, market segmentation, market positioning strategies to generate appropriate solutions and make informed choices to meet challenges in a range of engineering and technological enterprises, in a sustainable manner.
- Analyse and develop product, pricing, placement and promotion strategies for engineering services and technological products, collaboration, joint ventures, diversification, integration, and divestment to enhance the core competencies of engineering and technological companies with aim to identify business opportunities, and build and maintain client networks.
- Analyse the interrelationships between market trends, branding, innovation, sustainability and communication and services in engineering and technological enterprises and engineering consultancies and apply these to appropriate business situations encountered by engineering companies.
- Develop a strategic marketing plan for engineering services and technological products in a range of situations such as consumer marketing, industrial marketing and marketing of engineering services in engineering consultancies, that complies with the code of ethics and professional conduct.
- Commercial awareness
- Independent, self-directed learning skills
- Interpersonal skills and team skills
- Research skills
- Team work skills in apply strategies to engineering practice
- Critical problem solving
- Documentation and preparation of reports
Last updated: 24 January 2023