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Market Needs Of Swinburne University

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Question:

Using the drivers of International Marketing explain for the Management of this Organisation why they need to expand their involvement with International Marketing. Use theory and real world examples to illustrate your points.
 
 

Answer:

Introduction

Swinburne University is one of the leading Australian educational institutions serving many people to meet their educational needs. The university offers both online and physical classes to its students across the globe. Given the fact that business organizations are going international to reach more market, Swinburne should also work towards achieving this. Therefore, it is critical for the University to continue expanding its international market to gain a competitive advantage over others. The primary drivers for Swinburne’s emphasis in diving into global market include the market needs, technology, cost-scale, government and communication (Varadarajan, 2015).

Market Needs

Market factors are key drivers for businesses going international. Maslow’s theory applies to the needs of Swinburne’s market. As a real-life example, currently, most of the potential clients in the education sector have become more knowledgeable and are now able and willing to try out new foreign institutions. Besides, the market needs should also drive Swinburne towards going international because they have currently grown increasingly to be uniform throughout the globe (Zhou & Luo, 2007). With this nature of the market, the university should increase efforts to venture into the international market to reach many people.

Technology

Currently, technology has become increasingly essential to the success of businesses. Technology, as a driver, has made it possible to go to the international markets, by making it easier to reach many people throughout the world. The theory of Technology Business Incubation applies to Swinburne’s technology. As real-life examples, the University already has the required technology in place that can help it penetrate the international market. The institution has its website in place, the e-learning portal among others. Further, the school can still adopt and utilize any technology that comes to the market and deems usage to facilitate the endeavor of going international (Mathews & Zander, 2007). Therefore, technology stands to be among the key driving aspects towards the Swinburne's success of increasing its global market.

 

Cost

Cost is also a driver of companies to go international. The cost theory applies to this situation. Since the primary objective of business is to make the profit, companies always tend to fear the high-cost options especially if the outcome is little. As a real-life example, a focus on going international reveals that cost is a driver of Swinburne University towards achieving this endeavor. This is mainly because the prices are lower in comparison to the value derived from it because the university will be able to satisfy the demands of its customers. The University will be able to expand its market and thus increase the client base thus receives more admissions to the institution (Almashaqba & Nemer, 2010).

Government

The government is a driver for going international. Public interest theory applies to this university and there are many real-life examples that can be explained. Firstly, Swinburne University has the advantage of the government’s support in its endeavor. At the moment, most governments of various countries are advocating for education thus they are likely to offer full support to the Swinburne University. Also, there are no government regulations that are against spreading knowledge growth in countries, but they are all for the idea of promoting education. Besides, Swinburne as an educational institution stands chances of government funding for the endeavor of spreading education (Yin, 2009). Therefore, the government is a driver for Swinburne to go international due to its support for education.

Communication

Communication is one of the essential aspects that should drive Swinburne towards going international. Currently, communication has been eased and reaching other parties is much easier. The university can now reach clients all over the world using the existing communication channels. Social media such as Facebook, Twitter, LinkedIn, Instagram among others also provide a good communication platform which can help the institution to reach to the possible international clients. Thus, communication is nowadays a driver for the successful penetration of the global market.

Conclusion

In conclusion, Swinburne University has many drivers that encompass its success in going international. The university should capitalize these current success drivers and thus undertake the endeavor of penetrating more into the global market. Therefore, the management of this school should evaluate market needs, technology, cost, government, and communication, and then utilize these drivers that are exists for the university.

 

References

Almashaqba, Z. & Nemer A., (2010). "The Classical Theory of Organization and its Relevance." International Research Journal of Finance & Economics. 41: 60-67.

Mathews, A. & Zander, I. (2007). The International Entrepreneurial Dynamics of Accelerated Internationalization. Journal of International Business Studies, 38(3), 387-403.

Varadarajan P. (2015). Strategic marketing, marketing strategy, and market strategy,AMS Review, 5 (3-4) 78-90

Yin, R. (2009). Case Study Research (Third Edition Ed. Vol. 5). London: SAGE Publications.

Zhou, L. & Luo, X. (2007).Internationalization and the performance of born-global SMEs: the mediating role of social networks. Journal of International Business Studies, 38(4), 673.

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