Posted: June 9th, 2022

Discuss about the Marketing for Managers, Creating a marketing plan

Question:

Discuss Marketing for Managers. Creating a marketing strategy for an academic year is dependent on both the demographic characteristics of the market and past records history regarding the institution’s population composition.

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Answer:

Deakin, an Australian-based university, was founded in 1974.

The university provides higher education for students across a range of faculties including economics, commerce and engineering.

Deakin University is proud to have a student-focused culture. It also has a long-standing technology advantage that allows it to offer a personalized learning environment.

It is the 7th largest university Australia, with a student population of more than 54,000 and more 60 professors.

Deakin gives its students an opportunity to engage with globally connected learning and enhance intercultural understanding (Baker (2014)).

Deakin has five research campuses and offers distance and digital learning.

Deakin has extended its educational programs and research to Geelong, Warrnambool and Victoria.

Deakin’s academic excellence, top research and educational partnership programs attract students from every corner of the world.

New courses, scholastic programs and research facilities like the postmodern library and digital learning are just a few of the services and products that the university offers to students. Effective marketing is necessary for the success of the next academic year, 2018, (Faugere (2014)).

Deakin offers undergraduate and graduate certificates, diplomas, as well as postgraduate programs, including masters, research, and certificate programs.

CQ University and Monash are long-standing competitors to Deakin University. They also compete with the University of Melbourne, University of Sydney and University of Western Australia.

Market and Demand Assessment

The demand for higher education in the global marketplace is very high.

Deakin University has a number of main products and service brands, including new courses, scholastic program, research facilities, such as the postmodern librarian, and digital education.

These brands are highly marketable in the global competitive education sector.

Therefore, a marketing plan must be created for the 2018 academic calendar (Hollensen (2015)

Students are increasingly looking for graduate certificates, master’s or research degrees. This requires the creation of a marketing strategy that Deakin will use to market these products and services to their target market.

Deakin’s commerce student research from 2016 shows that, despite the desire to study, not all people can afford it.

The 2018 marketing plan will therefore include sponsorship programs and scholastic ads to attract the attention of a wider market (Howarth 2017, 2017).

Deakin’s 2018 marketing strategy will be designed using the below demographic, segmentation and target market information.

Demographic Analysis

A marketing plan for an academic school year is dependent on both the demographic characteristics of the market and past records history about the institution’s demographic composition.

Deakin currently boasts a student population of more than 54,000 and alumni who are spread around the globe.

Deakin targets students worldwide from all walks of life and all age groups.

Deakin University is a gender equal institution and welcomes students from all sexes. It also offers sponsorship opportunities and scholastic opportunities to students who are not prejudiced by gender (Liamputtong 2011, 2011).

Deakin boasts more than 221,000 alumni around the world and has more 54,000 students. These numbers will assist in developing the 2018 marketing strategy.

Deakin will open new workshops for engineering and provide training for students without discrimination based on gender.

Segmentation Analysis and Target Market Analysis

Deakin University welcomes students from many different places, both local and national.

The university is located in Australia’s cloud campus, Melbourne Burwood Campus (Geelong warm ponds and Warrnambool Campus), which broadens its market.

Deakin will open more international offices as part of its 2018 marketing plan to increase international student numbers. Currently, the university has 10,000 international students.

McGee (2013) describes the marketing strategy for the new courses and e-learning.

Deakin currently has four faculties that offer a wide range of courses.

Although the university offers a wide range of faculty programs, there is still a need for them to do so (Poucher (2012)).

The 2018 academic year will see the addition of more faculty programs, which will allow the administration to exploit the potential market for short certificate courses.

PEST Analysis

The PEST analysis examines the effects of external factors on Deakin University’s daily activities. It also considers their political, economic, and social environment.

Here is the Deakin University PEST Analysis that was used to guide the creation of its 2018 Marketing Plan.

Political factors

Political factors refers to the impact of regulations and legal requirements on the operations of different universities in Australia.

Deakin University must adhere to Australian laws. It also has a legal obligation regarding the qualifications framework and the educational services it provides to the market. (Marginson (2015)

To avoid any violation of law, the university must budget for advertising licenses as well as other intellectual property rights for its 2018 marketing plan.

Economic factors

Deakin University’s financial stability has contributed to its market position for new courses, research equipment, and other services and products to students.

Its cash flow is stable which is a sign that it is in a profitable financial position.

Deakin University is also able to receive foreign grants which allow it to fund its curricular as well as co-curricular activities. (Roger (2015)

The university has excellent relationships with Australia’s biggest banks like the Bank of Australia, where they can get loans to help further their education.

This could be a competitive advantage for Deakin’s 2018 marketing plan, as enough funds will be available for the organization of promotional market campaigns for its brand.

Social factors

The university’s choice to engage in corporate responsibility has helped it gain an edge over its competitors.

The university offers financial aid and sponsorship to poor students.

In 2018, the marketing plan will focus on the service provided to students to gain more markets both in the United States and abroad (Ruby & Linda (2014)).

Deakin’s administration understands that many intelligent students cannot afford to pay for education.

The 2018 academic year will see the importance of sponsorship and scholarship brand services.

Students safety and health are also key elements of the marketing strategies.

Technological factors

Technology is the key driver of Deakin University’s innovation success and research success.

Deakin University offers a cloud-based online research university, where students can study online.

The school provides both digital and online learning options for students who may be working in remote areas or cannot attend regular classes.

Deakin University has established ten research centres that will offer elearning and digital education to its students in its 2018 marketing plan (Sharma Garg & Sharma 2013).

This will allow for a minimum 12 percent increase in student population.

Students will be able to access fast and free WiFi at any time.

Competitor Analysis

Deakin University in Australia is part of a highly competitive education sector.

CQ University and Monash are key competitors of Deakin University. They also compete with the University of Sydney, University of Western Australia and University of Melbourne.

Deakin University’s primary goal is to offer high-quality higher education while remaining competitive in the market (Rajagopal and Sanchez, 2004).

The university is designed to help students develop their decision-making skills and communication skills.

Deakin’s rivals seek to engage all stakeholders (students. professors. government. and parents), worldwide universities. vocational and training institutions. and other research colleges.

Deakin has always been keen to see changes in market demand and therefore invests heavily in new technology to promote creativity and innovation and remain competitive in the marketplace (Slavin (2015)).

Deakin employs advertising, public relation, and direct marketing in order to promote its services and products. This is done to improve competitiveness and sustainability on the Australian market.

To promote its new brands like research facilities and courses, Deakin will use digital media, including billboards, billboards, roadshows, and university websites in 2018.

SWOT Analysis

The 2018 marketing plan for Deakin University is designed to incorporate the following:

Strengths

Weaknesses

Reputation in the community

Deakin university’s international degree is highly valued

Provision of scholarships and sponsorship to students who are less fortunate

Provision of industrial attachments to students and interface

Local universities face stiff competition

Distance learning is faked as it has less value

Teaching health sciences online is ineffective

Language barrier, as students have different cultural differences

Threats

Deakin University is the number one university in the world. This attracts students from all over the world.

Deakin University degrees are globally recognized

Students have global exposure which opens up research opportunities

Regional diversity

Due to the splitting out of new colleges, enrollment numbers have declined

Limited courses available to students

Negative public perceptions of some courses

Analysis of Value and Brand Positioning

Deakin is Australia’s most well-known university.

Deakin is Australia’s 7th-largest university.

Deakin ranks in the top 2 % of the most prestigious and growing universities in the world according to the 2016 statistics.

Deakin ranks as the 39th most popular university in the QS global ranking.

With five campuses in Australia, Deakin is well-positioned in the market. This has allowed it to win a wider range of markets in the 21st.

Deakin is 5th in the list of most prestigious universities worldwide and offers top-quality degrees to students from all walks of life.

The university is free of corruption and does not discriminate against women. It also ensures equal treatment for both domestic and international students (Suakanto (2012)

Students can take language classes in English and French due to differences in cultures and languages.

Students from rural and remote areas are also highly valued by the university’s e-learning and digital programs.

Deakin’s marketing plan for 2018 will provide cloud computing courses and enroll seat and take classes. Scholarships will also be provided to bright, poor students.

Marketing Objectives and Promoting Objectives for 2018

This is the part that launches the Deakin University 2018 marketing plan.

These SMART goals will guide 2018’s marketing goals and objectives.

Specific

The 2018 marketing plan goals will be precise.

The 2018 goals are to launch e-learning, valuable digital learning programmes, new courses, research facilities, and new courses (Walker 2014).

After students have enrolled at the university the administration will make sure that they are provided with services to maintain their public reputation.

Measurable

After the academic year has ended, we will use questionnaires and social platforms to assess the success of our 2018 marketing plan.

Based on the number of students enrolled, online questionnaires are distributed to students, staff, and professors. (Walker, 2014).

The results of these surveys will be used to develop performance management systems to ensure that the 2018 plan succeeds in the coming academic years.

Realize your potential

Deakin University must achieve its marketing goals in 2018.

Deakin University’s marketing staff will be chosen based on their skills, abilities and knowledge in marketing (Marginson (2015)).

This is because it is impossible to win more students if the university’s marketing team isn’t talented and skilled enough for the target market.

Reliable

To increase the reliability and effectiveness of the marketing plan, all marketing techniques, methods, and tools must be results-focused.

It is important that the results achieved be quantifiable in terms of value and numbers for the university.

To increase reliability, the 2018 marketing strategy will be guided by time frames that allow sufficient budget to each University activity (Marginson (2015)).

When it is convenient

Communication of goals must be done promptly.

The university administration should communicate the marketing plan quickly to all relevant stakeholders. This would ensure that it is successful (West Ford & Ibrahim 2015).

The university would be able to increase the number of students enrolled in its new courses, access research facilities, and digital education before 2018.

Marketing Mix Strategies

Marketing mix strategies assist organizations in offering their brand products and/or services to existing and potential students.

Deakin University’s 2018 marketing plan will focus on the fourPs of marketing, namely price, place and promotion, to market its academic years offers.

Here is Deakin’s marketing mix for 2018.

Product

The 2018 marketing strategy will be focused on new courses and research facilities, better quality distance learning and e-learning advances in sciences and technology, management and nursing (Baker 2014).

Administration will draw upon the research of students about the market to effectively market these products.

The budget for 2018 will guide the marketing.

Prices

Deakin University charges a high amount of fees for students who study in its branches throughout Australia, as well as those who are studying online through cloud-based computing programs.

According to McGee (2013), students are not able to meet their expected capacities.

In order to counter the growing number of colleges in Australia, the 2018 marketing strategy will include a subsidised amount for fees.

Place

Deakin University is located in five Australian locations, where it provides high-quality education for both local and international students.

The 2018 marketing plan aims to inform international students that the institution will offer education via Skype. Marginon, 2015.

Promotion

Deakin University has been aggressive in its promotion of the university’s educational services to students.

Banners, pamphlets (McGee 2013), billboards and billboards are some of the marketing strategies that Deakin University will be using in its 2018 marketing plan.

The school will encourage students to spread the word among their friends.

Competitive Strategies

Michael (2014) on Porter’s Five Competitors, Deakin University management would create competitive strategies for 2018 market success as shown below.

The industry is highly competitive

Deakin University works in the education sector.

Deakin University’s 2018 market strategy will be SMART. This will allow students to survive the competition from other Australian universities (Hornle (2002)).

To make the best adjustments, it is important to consider the competitor marketing strategy in 2018.

Potential for new entrants

In Australia, there are many universities.

Deakin’s marketing tactics face increased competition from new entrants looking to expand their market share (Dominici 2009.

The 2018 marketing plan would suggest that Deakin will offer quality distance learning at a reasonable price.

Supplier power

For the success of the marketing plan, the university will need three reliable suppliers to ensure it delivers quality education, new courses and research facilities to students in 2018. (David Strang 2012).

For budget issues, the supplier with a lower bid price will always be chosen.

The power of customers

The university’s targeted market is what will determine its marketing plan’s success.

This means that skilled, competent, and talented marketers are needed to persuade and convince the target market (Brandi & William 2013).

The greater the market size, a higher power institution has over targeted students.

The threat of substitute products

Deakin’s progress was hampered by the presence of many universities in Australia that offer similar services and products.

Accordingly, Deakin’s 2018 marketing plan would include enough resources in its budget for the academic year to finance a number of courses provided by other firms, which are not covered by the University (Adam & Alison 2016).

2008 Budget and Media Allocation

Date

Activity

Description of media budgets

March 2018

Strategic marketing planning team created

50 faculty, staff, students will form the 2018 marketing planning team.

Their mission will be to invent innovative marketing and promotional design for the university brands.

Budget allotted is $ 40 000

May 2018,

Environment scanning

Based on Deakin’s SWOT, PEST and competitor analysis, the 50 group team will thoroughly analyze market factors.

The media budget allocated is $30,000

July 2018,

Intensive market campaign programs

The marketing team will be subdivided in five groups, with ten people each. Each group will have a designated role.

The budget is $1,145,000.

September 2018

Enrollment and admission

It will take place the actual admission and enrollment.

Record keeping will be done regarding the number of students who registered as a result of the promotional campaign.

Budget allotted is $430,000

November 2018

Finalization and review of the results of marketing planning

In September, students will be able to complete online questionnaires.

Students’ responses will be used to review the 2018 marketing plan and help with future planning.

Allotted media budget: $18,000

Expected Outcomes & Conclusion

It is expected that the university will increase international student enrollments by encouraging practical instruction for engineering students.

Online cloud learning, which is undervalued by many, would be made more marketable by the University’s adjustment of Skype, elearning and digital learning.

Students around the world would be more likely to consider the University the best institution for valuing culture diversity.

The current university is expected to rise from being 7th in domestic rankings to the top three by 2018.

Deakin is expected to increase its career opportunities by providing 100 percent placement and fast responses to student’s requirements.

The university will be able to reduce its fees as a marketing strategy in 2018. This would help relieve the competition pressures that it currently faces from the many other universities.

Marketing planning is crucial for achieving institutional goals.

Universities are part of a highly competitive education sector.

It is essential that a marketing plan be designed with attention to the latest technology. This allows for creativity and innovation.

University’s ability to offer quality online cloud services, e-learning, digital education, and strategic alliances creates differentiation in product and service offerings.

Deakin University must create a marketing strategy to guide its academic years, promote research activities, and meet the appropriate budget allocations.

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