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Answer:
Introduction:

Universities are expanding its operational measures widely in the present competitive market. Education industry is one of the fastest growing sectors within the market. It contributes significantly in national growth and development. Australia has developed a significant prospect of growth and development in the education industry (Cross, Belich & Rudelius, 2015). Universities are being developed in order to offer effective range of quality education to the students of the domestic as well as global world. University of Sydney has developed a significant market and brand identity within the market (Kotler, 2012). It offers effective leadership and educational measures for the students. The organization has been offering its services from the year 1895. It has created a high trust and efficiency in the economy.

The university focuses on becoming the market leader in the education sector which will help the organization in enhancing high growth and demand within the economy. It offers effective courses to the students which will help them in ensuring a bright and effective future within the competitive market. The purpose of the university is to deliver quality education to the students is such a manner that it positively affects the growth and development of the country. It also focuses on enhancing the potential of the student in to the maximum level (The University of Sydney, 2016). The current study will focus on analyzing the current position and competitiveness of the business within the market. It will also create an in-depth analysis of future aspects of organizational growth and development. The report will evaluate the marketing and promotional aspects for the university to create a competitive edge in the country in the upcoming year.

Market and demand assessment
Market and demand assessment

(Source: Australiarental, 2016)

Australia is one of the most significant and highly demanded educational sectors of the economy. The country has analyzed a vast rise in demand by the students. Past two decades has reflected a positive growth graph for the stated industry. Enrollment for university students has widely which has given the firm a significant aspect for expansion and growth.  Demand assessment reflects that enrollment of domestic as well as international students have been significantly done in the universities. The demand for professional courses and educational degree is considerate within the market. It has been analyzed that Australia is one of the major country which has developed a significant international demand for education industry. It is one of the highest service exporters of education (Siemens, Dawson and Lynch, 2013).

Segmentation and Target market

Segmentation focuses on dividing the vast market into approachable small market segments. University of Sydney has adopted effective marketing strategies and development aspects to attract wide number of domestic as well as international students. Demographic, geographic and behavioral segmentation are the common approaches adopted by the organization. This has helped the organization on focusing on more than one segment for the university. The major segmentation for the educational industry is done on the basis of the motivation behind consumption and the benefits attained. The mentioned factors help in creating a significant and well defined impact on business development within the economy. The students of the university are thus categorized into value based individuals and quality based individuals (Peñaloza, Toulouse & Visconti, 2013). This differentiated marketing strategy helps the organization in offering value and quality against the money invested in their education. This helps in developing a significant and high value for students.

PEST analysis

PEST analysis will help in evaluating the external factors for the business which are beyond the organizational control. The impact of PEST analysis on University of Sydney has been effectively discussed as below:

FACTORS

ANALYSIS

Political

Impact of political changes, modification in government regulations, changing legal frameworks directly affects the functions of University. Thus political impact is significant for organizational success. For example the national relations between Brazil and Australia have a significant impact on demand for educational services for the universities.

Economic

Economic aspects are crucial for managing demand and growth within the market. International education aspects demands economic stability globally. Economic recession, inflation etc are the issues which may create a wide impact on university performance within the market.

Social

The impact of social factors such as culture, language, status etc affects the behavioral aspects for education. Developed countries such as USA, UK, Germany etc has low language issues however students from countries such as India, China, Malaysia, Singapore etc face a critical issue of language and culture.

Technological

Changing technology aspects has affected the education industry widely. Based on the stated issues, universities have to develop innovative services and teaching platforms. This helps in enhancing the competitiveness of the organizations widely.

Competitor analysis

The education industry of Australia is renowned and well established. There are many universities which has developed a significant brand identity and demand in the market. Macquarie University is one of the major competitors of university of Sydney. It was established in the year 1964 and has been successfully operating thereon. In order to enhance demand and create significant brand image in the market services such as high security, accommodation, sports and recreation, highly organized library and also medical facilities are offered to the students. This has helped the university in developing a unique market identity for the stated organization. The mission of the Macquarie University is to develop an effective education platform for the students which help in attaining effective market development measures.

SWOT analysis

SWOT analysis helps in analyzing the internal and external factors of the organization. The evaluation of SWOT factors for the University of Sydney is as follows:

Strengths

·         Significant student force within the university

·         Highly qualified and expert team of faculty

·         Direct Feedbacks

·         Well defined communication aspects for students

·         Technological development aspects for personal growth and development of students

·         Continuous development programs

Weaknesses

·         New market entrant with unique development strategies

·         Lateral turnover of the staff due to high scope of employee turnover

·         Low employee motivation within staff members

·         Lack of effective marketing aspects

Opportunities

·         To have extended reach through promotions

·         To have innovate techniques and programs for student development

Threats

·         Fatal rate of competition within the market

·         Technological development enhancing growth aspects for competitive firms

(The University of Sydney, 2016)

Value brand positioning analysis

Branding is a process of developing a brand identity of the company in the minds of the buyers and potential consumers. As analyzed above, University of Sydney has significant competition within the economy. It has created a wide impact on business growth and development. In the current competitive market, University of Sydney has developed a significant brand identity. It creates a well defined and significant impact on the growth of the business. It offers quality services which are highly value based which helps the business unit in creating a significant impact on student’s needs and demands in the market. It has analyzed effective measures to offer quality education to its students which will help in ensuring high and valuable aspects of future growth in the market. The organization has adopted unique and well defeined measures to build an effective brand identity within the market. It helps the business in creating a significant demand for students seeking effective education measures.

Marketing aims and objectives for 2018

Marketing is one of the crucial and most significant parts of business growth and development. It has helped the companies in creating a well defined impact on sales and demand aspects. Effective marketing helps the businesses in creating well defined brand identity which helps in enhancing sales for the business. University of Sydney is a well established brand of education industry (Anagreh, 2012). The organization offers effective and quality services to its consumers. Value based results by the organization has helped in enhancing market demand and brand loyalty for the university. Market competition for the organization however is high and significant. It has created threat for the business development as well. Thus the major focus of the business in the present era is to offer a well defined and effective aspect of services for the students (Stimac & Simic, 2012). The marketing aim of University of Sydney for the year 2018 will be “to develop an effective brand identity for national and international students in order to enhance demand and perception for the university”. In order to attain the stated objective of the business following objectives will be developed by the organization:

To construct competitive strategies for enhancing demand for educational services

Developing competitive strategies will help the company in ensuring effective and well defined measures to create an edge within the market. The organization thus will ensure to take significant market research in order to evaluate the current market trends and demands of the students. Moreover market evaluation will also help the business unit in effectively analyzing the competitor’s strategies. This will help the university in planning and enhancing organizational competitiveness.

To develop effective strategies to attract student attention

The major aim of the university is to enhance demand and student flow for the organizational services. Planning and developing effective strategies to attract their attention is thus vitally significant for the business. University of Sydney will thus plan effective strategies to attract the attention of students for the organizational operations and functions. It will also develop well defined measure to create a unique brand identity for the organization.

To enhance quality of education and services in order to ensure satisfaction within existing students

In the current competitive market, high quality education is crucial for developing a positive impact on existing students of the university. It will help in developing a significant range of satisfied consumers for the organization. University of Sydney will thus plan and develop effective strategies to ensure consumer satisfaction through quality services and effective and valuable offers (Christopher, Magrill & Wills, 2013). The stated objective will thus focus on evaluating the needs and demands of the students of the university and developing quality measures for the same.

To develop competitive edge within the market by providing high value for money

The major aim of the organization in to develop a competitive edge in the market. University of Sydney will thus evaluate well defined measures for business operations and progress in order to create a significant brand identity. The organization will also focus on evaluating measures which may helps it in gaining a competitive edge in the market. In order to attain the same quality services and prospect for stated organization.

Marketing mix strategies

Following will be the marketing mix analysis of the University of Sydney which sum up in four different factor i.e. product, price, place and promotion:

Product

The university offers significant education services to the students from all over the world. The stated service is delivered through experts and faculties of lecturers and professors. University of Sydney offers a wide range of educational projects such as law, history, finance, marketing, nursing, hotel management etc (Usanova, Rechinsky & Vatin, 2014). The organization will ensure to offer effective and well defined services to the students by introducing effective and well defined courses. These courses will enhance the career opportunities for the students in national as well as international market. Moreover exposure to the global market demand and employment aspects will also help the organization in creating a significant market growth for the students. This will be a well defined means of product prospect for the business.

Price

Price factor for education industry related to the fees for the courses which the organization offers. However the fees varies from the category  and value based aspect chosen by the students which helps in analyzing effective and well defined means of growth for the organizations. Moreover the stated aspect plays a significant role for the international students as well. In the year 2018 the organization may offer effective and well defined segmentation for the students (Dolatabadi, Parhizgar & Aghcheh, 2013). They can create high fees for high and valuable services such as accommodation, technological backup, tuitions and donations etc however the basic fees for the sources will be constant. This strategy will help the organization in attracting the two sets of students as per their affordability.

Place

The place is that location where the university is situated. In case of the University of Sydney, the place of offering or making available the service is Australia. There is a separate building of the University for the students in Australia (Lewis, 2016). The university will now focus on building a strong and well defined online infrastructure for the university as well. This will be unique strategy for attracting students with high interest but financial inefficiency. Moreover the stated first mover advantage by the stated company will help the business in developing a unique brand identity within the market. It will also enhance market development aspect for the business.

Promotion

Promotional aspects play a mjor role in business growth within the highly competitive market. It creates a significant impact on enhancement of organizational operations within the economy by effectively analyzing the client’s needs and requirements (Todd & et.al., 2015). University of Sydney has developed a well defined brand identity within the market. The organization however has high scope of growth and development within the economy as it has high efficiency from the competitive organization (Ramachandran, 2010). Unique and effective promotional measures will be adopted by the business unit in order to create high and valuable aspects for the business growth. Promotional strategies such as digital media, online tools, guerilla marketing and collaboration with other countries will be done. It will help the business in enhancing demand and growth in the economy.

Competitive strategies

Competitive strategies play a well defined role for business growth and development. Companies focus on adopting effective measures to create a unique brand identity the businesses. University of Sydney will adopt the Porter generic model in order to ensure organizational growth and competitive edge in the market. The stated model has the core focus on the following three strategies:

  • Cost leadership: This is one of the major and most significant aspect of business growth and development. Companies focus on creating a unique brand identity through ensuring cost leadership. This is the internal aspect of business operation. University of Sydney offers educational services to its students (Petrova & et.al., 2016). In order to ensure high and significant growth within the market, the organization will develop effective aspects for cost leadership for the organization. This aspect will create a unique strategy to attract highly educated professionals within the market. Moreover delivering effective services on an attractive market rate will help the organization in ensuring high demand of the students while minimizing competitiveness in the economy.
  • Differentiation: Offering unique and differential services within the market is yet another measure which the organization may adopt to create an effective and well defined growth within the market. Strategies related to professional courses with high prospects of carrier development may be the most effective aspect of enhancing market demand for the business (Bélanger, Bali & Longden, 2014). In addition to this offering valuable services related to accommodation, education, training, professional exposure, employment opportunities etc may also help in developing trust and demand for the university.
  • Focus: This aspect of the model focuses on developing strategies which ensures effective demand from the market (Obermeit, 2012). Offering wide services for the niche market may develop effective demand aspects for the business. As evaluated Asian market have high demand prospects for the university. Developing significant promotional strategies for the Asian market will help the university in enhancing demand and growth for the business. It will also generate significant market development measures for the business.
Media and budget allocation for 2018

Choosing right media for the organization is crucial to attain effective business development and growth measures. The major media which will help in promoting University demand within the market will be:

  • Digital advertisement: Television is still one of the most widely used medium for mass communication by the businesses. It helps the company in creating a well defined impact on business development and growth (Wilkins & Stephens Balakrishnan, 2013). For the stated organization digital advertising on movie screens, TV and other measures will help in generating demand through developing awareness.
  • Online promotion: Online tools and aspects are critical for generating high and significant market demand for any business operations (Wilkins, Balakrishnan & Huisman, 2012). The current business unit will create a well defined and high effective aspects of public awareness through strategies such as social media marketing, SEO, SEM etc will also prove to be the effective tools of promotion.
  • Budget: Budget is one of the crucial aspect for promotion and grpwth. The University will set a budget of 50000 AUD for all of its promotional and developmental measures for the organization. it will help the company in creating a unique and effective market demand for business growth and development. it will also be effective for high and significant market promotion (Berthon, Pitt & Shapiro, 2012).
Conclusion

The overall evaluation has helped in analyzing that marketing plays a vital and major role in business growth and development within the market. The stated aspect helps the companies in creating valuable demand for products and services offered by the organization. The present study was based on educational industry which has created a significant impact on Australian market. As per the analysis, University of Sydney offers a wide and significant range of operations to the students. This has helped the organization in creating an effective growth prospect within the market. The University of Sydney is a renowned brand that offers best possible educational services to the students.

The present development strategy and growth prospect of the business has helped the organization in enhancing its operational and marketing aspects within the economy. The organization has adopted unique set of strategies which are crucial and highly effective for business growth and development. The aim of the marketing strategies was to develop an effective brand identity for national and international students in order to enhance demand and perception for the university. Undertaking effective and well defined measures for business development has helped the organization in creating a unique brand identity within the market.

References

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Australiarental, (2016).Record Numbers of International Students Choose Australia to Study, Bringing Over $17Billion to the Australian Economy, Retrieved on: 13th April, 2017, Retrieved from: http://australiarental.com.au/blog/record-numbers-of-international-students-choose-australia-to-study-bringing-over-17billion-to-the-australian-economy-2/

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