A Competitive Environment In The Marketing

Analyze the "Marketing and Competitive Environment" of a University Brand in Australia.

 

 

Introduction

A competitive environment in the marketing is the dynamic external system in which a business competes and functions. It is also known as market structure in which the business of a company, institute or enterprise competes (Hooley, 2016). The state of the system works as the whole and access limitations in the flexibility of the business.

This study will analyse the marketing and competitive environment of a university in Australia. The examination of the marketing and competitive environment of the university will include the background of the university, its market summary, its demand, its segmentation & target market, its current marketing mix analysis, its PEST analysis, its competitor analysis, its SWOT analysis, and its value & brand positioning analyses.

Background

Central Queensland University or CQ University is an Australian dual sector university based in Queensland. The institute has been on a phenomenal trajectory since 2009. The specified university focuses on the excellence, engagement and equity (Hooley, 2016). It has now led to a noteworthy expansion in terms of numbers of students, new courses, infrastructure, research impact, reputation and new campuses. It has now reputed among the Australia’s great Universities (Demiray, Nagy, & Yilmaz, 2017). It was originally founded in Rock Hampton in 1967 as the Queensland Institute of technology, and awarded as the full university status in 1992. The specified university now has more than 30,000 students in its 25 campuses and locations around Australia.

Market summary and demand assessment

The marketing administration at the CQ University is associated for the marketing activities of the university with generating the interest for the university and it’s shared by all departments. The university has dedicated staffs that are responsible for and works all over the university campuses. The directorate is responsible for the recruitment of the students and for all the marketing activities including the branding (Maria Antony Raj, Raguraman, & Veerappan, 2013). The directorate of the University provides assistance and support to the faculties and divisions on marketing, student recruitment, publications, school engagement, and advertising, marketing policies and branding.

The demand for the University can be analysed by the fact that the institute has 25 campuses all around the Australia and has more than 30,000 students. Demand assessment is demarcated as the study of sales generated by a good or service to examine the reasons for its success or failure. It is about analysing how its sales performance can be improved. CQ University expects that every academic program must specify that its graduates will know and how they are going to do it, gather data in extent to which students know and are able to do those things.

Segmentation and target market

There are many ways in which a market can be segmented. The marketing department have to decide which strategy is best for its provided goods and services. Market segmentation of CQ University:

Geographic segmentation:

CQ University has divided its market into different geographic units such as nations, regions, states, cities etc. The institute understand the cultural differences between the different regions and develop its strategies according where its targeted customers are.

Demographic Segmentation:

Under this segmentation approach, CQ University divides the students into lifestyle and personality. The University provides an approach towards the students like having a standard life and how it is to study in a top university.

Behavioural Segmentation:

In this approach CQ University on the basis of their knowledge, attitude towards study and response towards the study. Under this segmentation approach, CQ University divides the students into their grades and ranking in high schools (Schmidt, & Hollensen, 2010). The institute offers scholarships to best grade students and provide assistance to students from low income families who have good academies grades and are willing to study more.

Marketing Mix Analysis of CQ University

Program:

The first element of marketing mix of an education institute is program. It is the basic decision that educational institutes have to make. It is important for the university to create program that satisfy the demands of the consumers and is the most issues marketing activity for Universities (Goi, 2009). As, CQ University is in service sector, the university promotes its branding by stating having qualified, experienced and caring teachers. The university provides opportunity to the students to explore and interact.

Pricing:

Pricing is the sum of money that the university is going to take for its provided services to the students (Goi, 2009). Pricing always has high influence on the marketing strategy of a university as it is the matter that most students and their parents get concerned about.

Place:

The third aspect of marketing mix of an educational institute like CQ University is place or distribution (Ogunnaike, 2014). In educational institutes place is referred as the availability of the educational programs to the potential students in the most possible way.

Promotion:

CQ University needs to communicate its services to the target market through appropriate promotional strategy (P Harsha, & Shah, 2011). CQ University determines this element by the student’s market expectation and requirement of the study courses

PEST analyses

PEST analysis which is the acronym for political, economic, social and technological is a framework of macro-environmental factors which is used to understand the environmental issues of strategic management. It helps in determining how these external factors affect the performance and activities of the business.

Here are the PEST analyses of CQ University.

Political: Universities which are private have to manage its overall business by itself and also the financing (Hooley, 2016). Government initiatives create risk to the university that educational institutes may fail to transport the policy or get abstracted from the local significances. 

Economic: CQ University establishments may get effected by the central or local governments funding decisions. For an educational institute, ability of the parents to provide the stated tuition fees is very important (Hooley, 2016). This is very important as institutes have to deliver hundreds of different activities like giving salary to staffs and teachers, providing course materials, improving the infrastructure and many more.

Social: This factor involves the cultural aspects and includes the population growth rate, age distribution and emphasis on safety. Demographic changes may affect the student’s rolls and nature.

Technological: It is important for the CQ University to be among the modern establishments to attract students from all over the country (Hooley, 2016). This factor involves the standards, equipment and technology that are required to assist students and faculties in their services.

Competitor analyses

Identifying the competitors and evaluating their strategies in order to understand their strengths and weakness mainly in this field that are similar is very much important (Hooley, 2016). A competitive analysis is a very critical part of an educational institute marketing plan.

Competitor analysis: University of Southern Queensland

The University of Southern Queensland is a regional university which is based in Queensland Australia. The institute has developed a reputation of being among the Australia’s leading providers of on-campus and distance education programs in Australia (O'Shaughnessy, 2015). The main strength of this university is its view towards distance study programs which are strengthen by the fact that 75 per cent of the student of University of Southern Queensland is engaged with distance education programs.

The council and the committed senior leadership provide the solid foundation of the establishments and have clear direction of getting globally ("Trends in Higher Education Marketing, Recruitment, and Technology", 2014). The establishment has provided degrees to thousands of students and is targeting the market of CQ University.

SWOT analyses

SWOT analysis of CQ University

Strengths

• great campuses around Australia
• experienced and trained faculties have string level of interaction with the students
• Expertise in teaching non-traditional students.
• quality teaching in online courses

Weaknesses

• lack of funding in some departments
• lack of monetary and political support from the local governments
• have few faculties on some courses

Opportunities

• providing education in technical courses to all age groups
• more online courses
• getting into medical field
• Getting partnered with other universities.

Threats

• increasing reputation of University of Southern Queensland
• Lack of funding from governmental institutes.
• growing competition from governmental universities which cost led from the students

Value and brand positioning analyses

CQ University creates ambition for the students, staffs, faculty and the community and offers vast possibilities for achievement in a diverse and creative environment. As being among the Australia’s most reputed university, the institute’s offers major opportunities for students and faculties to get success in life (Bilgili, & Ozkul, 2015). It integration of the disciplines and commitment to big thinking and creative freedom is to provides best solutions of the world.

CQ University brand strategy encompasses various components that are at the centre of the establishment communications. Its main aims are to develop students to become future leaders and for this the establishment provided new skill training to the students (Bilgili, & Ozkul, 2015). The brand positioning of the CQ University is based on three pillars namely, being student-cantered, market driven courses and future focused studie

Conclusion

It has been found in the study that a competitive environment in the marketing is the dynamic external system in which a business competes and functions. The study demonstrated that CQ University creates ambition for the students, staffs, faculty and the community and offers vast possibilities for achievement in a diverse and creative environment.

References

Bilgili, B., & Ozkul, E. (2015). Brand Awareness, Brand Personality, Brand Loyalty and Consumer Satisfaction Relations in Brand Positioning Strategies (A Torku Brand Sample). Journal of Global Strategic Management, 2(9), 89-89. https://dx.doi.org/10.20460/jgsm.2015915576

Demiray, D., Nagy, D., & Yilmaz, D. (2017). Strategies for the Marketing of Higher Education with Comparative Contextual References Between Australia and Turkey. Retrieved from https://files.eric.ed.gov/fulltext/ed496531.pdf

Goi, C. (2009). A Review of Marketing Mix: 4Ps or More?. International Journal Of Marketing Studies, 1(1). https://dx.doi.org/10.5539/ijms.v1n1p2

Hooley, G. (2016). Marketing strategy and competitive positioning (1st ed.). [Place of publication not identified]: Pearson Education Limited.

Maria Antony Raj, D., Raguraman, D., & Veerappan, P. (2013). Marketing of Educational Services: A New Strategy for Customer Satisfaction. International Journal Of Scientific Research And Management, 1(8), 435-440. Retrieved from https://www.ijsrm.in/v1-i8/5%20ijsrm.pdf

Ogunnaike, O. (2014). Empirical Analysis of Marketing Mix Strategy and Student Loyalty in Education Marketing. Mediterranean Journal Of Social Sciences. https://dx.doi.org/10.5901/mjss.2014.v5n23p616

O'Shaughnessy, J. (2015). Competitive marketing (1st ed.). London: Routledge.

P Harsha, P., & Shah, S. (2011). Creating Brand Value of Higher Education Institution. International Journals Of Marketing And Technology, 19(2). Retrieved from https://ijmtpublication.com/files/IJMT_volume%2019_2_13r.pdf

Schmidt, M., & Hollensen, S. (2010). Product development and target market segmentation (1st ed.). Harlow: Pearson / Custom Pub.

Trends in Higher Education Marketing, Recruitment, and Technology. (2014). Hanover Research. Retrieved 8 April 2017, from https://www.hanoverresearch.com/media/Trends-in-Higher-Education-Marketing-Recruitment-and-Technology-2.pdf