Educational Standard and Positioning in the Market Free-Sample

Question: Analyse the "Marketing and Competitive Environment" of a University brand. Answer: Introduction This report outlines on the educational background of Melbourne University, which is situated in Australia. In this way, to analyze the marketing and competitive environment of Melbourne University the report analyzes the educational standard and positioning in the market. This analysis will be helpful for the universitys marketing manager in taking strategic decisions to promote the university in international market. Moreover, the report analyzes PEST and SWOT of the university to identify the negative issues in of university. These issues will be helpful in developing the standard of education as per students requirements. Background Australia is a leading country of higher education in the world. In Australia, University of Melbourne has been international leader in teaching and learning for more than 150 years. The university provides quality of teaching, learning and research, which creates strength for the university to attracts students from the entire world. University of Melbourne is a popular educational destination for international students (The University of Melbourne, 2017). In addition, this university provides a range of different educational field such as management, commerce, engineering and research, which make it distinctive from other educational institute in Australia. Market summary and demand assessment In the international market, University of Melbourne is devoted to being one of the excellent universities in the world with contributing society in different ways that improve and transform human lives. The curriculum of university draws students into a distinctive, rich and campus-based community, which are shared with exceptional virtual learning experiences in the market. Moreover, University of Melbourne offers innovative and flexible educational programs with more than 300 graduate and undergraduate study areas. As per QS World University Ranking, this university is ranked number eighteen in the world for the employability of students (Davis, 2015). Furthermore, the University of Melbourne is a popular destination of education for the international students because this university is reputed in the global market of providing high-quality education. Due to highly developed services and supportive programs, the education quality of this university is demanded globally. Hence, Uni versity of Melbourne has good demand assessment in the higher education sector. Segmentation and target market Segmentation is an effective marketing strategy for an educational institute, which may be developed on the basis of target student behaviour. This strategy is designed with a previous focus on mutual demand and needs of the target market which is classified into most talented students and scholars of different countries. Furthermore, the university also uses segmentation strategy, which is based on psychology of the students such as career growth, self-growth and self-awareness (Chernenko and Sunderam, 2012). In this regard, the university focuses on its teaching profile and strengthens to sense of education in different communities. The University of Melbourne targets mostly international students on the basis of demographic segmentation which includes gender, age, education, income and social class. The university specifies age group with minimum requirements for standard education. This university is leading university in Australia and attracts to the domestic students. But the university focuses on international students to increase the feasibility of the education in the world. In addition, the important target market of the university is to engage with the industry representatives in research field (Annual report, 2015). Current marketing mix analyses The marketing mix of University of Melbourne has operative and communicative function to transfer the relevancy of educational services at global level. These functions aim to eliminate boundaries in transaction of the educational services (Gajic, 2012). Analysis of current marketing mix of Melbourne University is as below: Product: University of Melbourne provides different educational courses such commerce, management, marketing, management, accounting, economics and engineering degrees with higher quality (Gajic, 2012). These qualitative products increase the value of university in the eyes of international students as physical products for which the students might join the university. Moreover, this university includes different scholarship programs for the international students. Price: In marketing analysis of a university, cost is related to the cost for students in form of time, money, opportunity cost and benefits to the community. The university provides greater opportunities to the students in form of better campus placement and increases the value of its education standard. This university also offers some scholarship programs for the international to generate a flexible fee structure. For example: through the scholarship programs it decreases the financial burden of the students. Place: The University of Melbourne provides studies at its campus, which is situated in Melbourne city of Australia. Moreover, the university also provides distance education through online platform, which increases the feasibility of the education for international students. Promotion: Melbourne University uses different promotional strategies advertising, web strategy, publicity and sales promotions to promote its products and services at global level. PEST analyses PEST analysis is a process to identify political, economic, social and technological factor that may impact on educational services of the university in both local and global environment (Yuksel, 2012). Political factors Government policies and regulatory agencies favorable for the university (Doherty et al., 2012) Legislations are flexible for both local and international education programs Flexible rules and regulations for international students Economic factors Trend base of the country is strong for education Lower tax and interest on educational services Growing market for higher education Social factors Students behavior and attitude is positive for the university Lower ethical issues in the community Better media opinions about the countrys universities Technological factors Technology is innovative with better RD Rate of technological changes in education is higher The above analysis is presenting that the countrys political, economical, social and technological factors are in favor of the university. These factors have been supported to the university in developing its educational services in the country. Therefore, it can be analyzed that the macro environment is supportive for Melbourne University in Australia. Competitor analyses In Australia, there are two leading universities namely Australian National University and CQ University, which have competition with the Melbourne University. Total number of students in Melbourne University is higher in compare of these universities but this university has lower number of distance education programs in comparison of other universities. Furthermore, ATAR (Australian Tertiary Admission Rank) is at better level in the world with world ranking 42 in the top universities (Australian Education Network, 2017). The Melbourne University has innovations in its education standards with experienced teaching faculty that increases the value of study in the world. Additionally, the Melbourne University attracts the excellent and experienced researchers and students from the entire world. This university collaborates with an open range of organizations to attain positive research outcomes with inclusive collision, which makes it different from the other universities. Hence, Unive rsity of Melbourne has much competitive advantages in the international market. SWOT analyses The SWOT analysis of an educational organization creates environmental assessments that may be used in making a strategic plan for development. In this regard SWOT analysis of Melbourne University is as below: Strength Level of education is standard Aspires to research and teaching excellence (Hall et al., 2013) Innovations in teaching standards Flexible environment of education Weakness Lower distance educational programs for the students Lower online educational programs High fees for international students Opportunities Ongoing education for academic enhancement and experienced people Prospect to make an undergraduate experience by excellent practices throughout the nation (Peterson et al., 2013) To become a leader in integrated and interdisciplinary learning Threats Abridged public funding for higher education Threat of losing prominent staff and faculty for fully better opportunities in other universities Growing competition Value and brand positioning analyses The value of a university brand comes to student attraction, when it has well-respected and enormous advantage in compare of other universities. The University of Melbourne positions itself in the students mind as a unique entity. The management of university ensures that they can provide customized educational services for all their educational requirements. Apart from this, the brand position of the university is excellent in the world. Melbourne University tries to establish a distinguish brand benefits for its students to stand out from competitors. Eventually, the students make their mind up how to react to the universitys brand and position relative to other universities. In addition, the university provides different distance and online education programs for international students with proper standard (Rodseth et al., 2014). These programs and services increase the value of its brand among the domestic and international students. Hence, the students preferred to the Melbourne University as an excellent brand with better position in the world. Conclusion From the above discussion it can be concluded that University of Melbourne has a good position in the market. As a marketing manager of a university, it can be suggested that the educational institutes should focus on different factors such as educational quality, teaching material, innovation, and requirements of the students to compete in the market. The flexible environment, higher level of education and innovation will work as strengths of the university. References Annual report (2015). Building Strength. Retrieved from: https://publications.unimelb.edu.au/docs/UoM-AR-2015.pdf Australian Education Network (2017). Compare ANU, CQU UNIMELB Universities in Australia. Retrieved from: https://www.australianuniversities.com.au/compare-universities.php?uni%5B%5D=anuuni%5B%5D=cquuni%5B%5D=unimelbsubmit=SUBMIT Davis, G. (2015). THE UNIVERSITY OF MELBOURNE STRATEGIC PLAN 20152020 GROWING ESTEEM. Retrieved from: https://about.unimelb.edu.au/__data/assets/pdf_file/0006/1462065/11364-GROWING-ESTEEM-2015-FA-WEB.pdf Gajic, J. (2012). IMPORTANCE OF MARKETING MIX IN HIGHER EDUCATION INSTITUTIONS, Singidunum journal, 9(1), 29-41. Rodseth, R. N., Biccard, B. M., Le Manach, Y., Sessler, D. I., Buse, G. A. L., Thabane, L., Chong, C. P. (2014). The prognostic value of pre-operative and post-operative B-type natriuretic peptides in patients undergoing noncardiac surgery: B-type natriuretic peptide and N-terminal fragment of pro-B-type natriuretic peptide: a systematic review and individual patient data meta-analysis.Journal of the American College of Cardiology,63(2), 170-180. The University of Melbourne (2017). Welcome to the University of Melbourne. Retrieved from: https://www.unimelb.edu.au/ Chernenko, S., Sunderam, A. (2012). The real consequences of market segmentation.Review of Financial Studies,25(7), 2041-2069. Doherty, I., Steel, C., Parrish, D. (2012). The challenges and opportunities for professional societies in higher education in Australasia: A PEST analysis. Yuksel, I. (2012). Developing a multi-criteria decision making model for PESTEL analysis.International Journal of Business and Management,7(24), 52-66. Hall, M., Wrigley, T. V., Metcalf, B. R., Hinman, R. S., Dempsey, A. R., Mills, P. M., Bennell, K. L. (2013). A longitudinal study of strength and gait after arthroscopic partial meniscectomy.Medicine and science in sports and exercise,45(11), 2036-2043. Peterson, T. C., Hoerling, M. P., Stott, P. A., Herring, S. C. (2013). Explaining extreme events of 2012 from a climate perspective.Bulletin of the American Meteorological Society,94(9), pp. 1-74.