This report is made up of four main parts which are, the introduction which introduces the University to be studied, the discussing section that represents the literature review for the report, the conclusion part that gives a personal opinion on what the topic is all about and the last part is the reference part that gives a list of the sources from which the information was derived.
Central Queensland University in Australia also known as the CQ University, basically began as Queensland Institute of Technology College in 1967. It later graduated through a number of names till its current name which is CQ University. It is a learning institution that specializes on many different field, like: apprenticeships, trade and trainings, performances and arts, business management, accounting and law, education, engineering, environmental development, sciences, sociology to name just but a few fields. The University has got many branches in different towns of the country, like: Melbourne, Sydney, Noosa, Rockhampton City, Rockhampton North and Bundaberg among others. The University is governed by a council of leaders who include: the Chancellor, Vice Chancellor and the student body. It has also grown and developed over the number of years it has existed to the extent of having different research facilities and technical institutes. Therefore, with that in mind, it is clear that the University actually ranked as one of the best institutions in Australia. Therefore, this means that it is certainly a very good brand for students to learn valuable skills from as well as get incredible knowledge from.
Market Summary And Demand Assessment
CQ University marketing is professionally marketing directorate’s responsibility but it is done by all the university departments when carry out any operation. They all make use of the key University brands and the marketing messages that are set for that purpose (Sirianni, N.J., Bitner, M.J., Brown, S.W., & Mandel, N, 2013). This represents the daily operations of the university to the public which is generally in a very attractive manner. The marketing directorate and the international marketing team makes sure that the strategies, messages and brands used display the true and accurate identity, integrity and reputation of the institution. However, they should not only reveal these things but should also promote and market it to the public.
The demand for the CQ University brand is really high simply because currently there are about 35,000 students studying from the there. The Institution attract so many students from different countries who can be admitted as either long distance learners, international students or regular students. This gives it even more popularity among the people in Australia and especially the young people.
Segmentation And Target Market
The institution’s market segment is currently very wide and large. Just as mentioned earlier, it offers various types of courses. Therefore, the different fields to learn from, it certainly shows that different students are able to get whatever they need for their career success. The different fields also give different choices to the students to choose what they really want to pursue or have passion for in their live. In addition to that, it means that there are different lecturers to do the teaching in those fields. CQ University has a large number of students already enrolled to study there which basically gives it the opportunity to be called the most engaged University in Australia. Also, it has many branches in so many parts of the country and especially the major towns. This gives it the advantage of being able to take care of all the students that are studying from there even from other countries (international students) and the long distance students. The institution’s target market is the students with a passion and who would like to focus on careers and professions that are related to the courses it offers. Therefore this still gives it the opportunity to have a wide and large target market besides the market segment.
Current Market Mix Analysis
The market mix is composed of the 4Ps aspects of the market, which are: product, price, promotion and place.
According to CQ University brand, its product is the education service it offers to its students. It is actually one of the highest rated learning institution in Australia for the services it offers (Tsai, 2011). Additionally it is rated very highly also for the employment opportunities it offers. Therefore, this means that its product is very popular, famous and effective.
The university an average University. It does not charge costly for the education it gives to the students. In addition to that, it offers scholarships to its current and potential students who may not afford the fee charges or those that have performed extraordinarily well.
The institution has invested a lot in its brand promotion by use of different resources e.g. through the social media, doing its program and course publications, billboard and press advertising, digital marketing, university website to name just but a few ways (Mukherjee, S & Shivani, S, 2016). Also through the use of scholarships it is able to promote itself to its potential students.
The institution has so many branches all around Australia with offices which are used to run its operations. However, its main offices are in Queensland where it originated from. Nevertheless, it also has online sites from which students can learn online from different parts of the world. Therefore, the University does not have one base, but many which gives it a chance to grow and develop.
This is a tool used to analyze the external environment of a business (Dinnie, 2015). For the case of CQ University, it will analyses the political, environmental, social, technological, economical and legal issues affecting the learning institutions (Ok, C, Choi, Y. G, & Hyun, S. S, 2011). The political issues are the decisions made by the government or authority that will affect the education system, environmental are the natural effects caused by nature, social are things like cultural differences, beliefs and others that affect learning institutions, technological are aspect like the buildings, laboratories, research equipment and institutes, economic are aspects like inflation rate, interest rate, currency exchange rates that are likely going to affect the learning system and the legal issues are the rules and regulation that govern all the learning institutions but have the ability to affect them at time or the other (Gronroos, C & Gummerus, J, 2014). CQ University certainly uses this tool very effectively because it has been able to cope with most external effects and emerged one of the best universities in Australia.
CQ University is currently one of the most engaged, best entrepreneurial institution and most diverse university in the whole of Australia. It is the only university in Australia with so many branches and more than 35, 000 students enrollment. It is said to be the best at attracting different kinds of students and its graduates are said to be highly paid compared to other universities (Brien). However, its competitors like the Metropolitan Sandstone Universities are also highly equipped when it comes to their research institutions. Apparently, they are much better than those of CQ University which makes this field of research to be even more competitive than others. However, the benefits that are stated in relation to CQ University are much more than those of Metropolitan Sandstone Universities.
This is also a tool of marketing strategies that is used to analyze both the external and internal environment of a business. Specifically, it looks at the Strengths, weaknesses, opportunities and threats that face a business (Sung, Y & Campbell, W.K., 2009). For instance, looking at CQ University, strengths relates to the benefits that accrue to the services it offers, weaknesses are the disadvantages or the challenges the University faces when offering its services, opportunities are the potential market areas and students that can be attracted by its services and the threats relates mostly to the competitor universities who may be offering the same kind of service (Loureiro, 2011). The institutions should ensure that it has taken advantage of its strengths and opportunities and found a way to cope or cab the weaknesses and threats (Zehir, C, Sahin, A, Kitapci, H, & Ozsahin, M, 2011). Apparently, the institution has been able to do most these things and that is why it has managed to be the best University in Australia.
Value And Brand Positioning Analysis
This analysis relates to the quality of the service the students receive from the lecturers. The value of the service is directly related to the quality which simply means that the higher the quality the more valuable the service will be (completely determined by the students) (Lehmann, D. R. & Winer, R. S., 2017). Additionally, the University’s brand positioning will be higher if the value is said to be high. Therefore, this means that the value and brand positioning is completely determined by the quality of the service being offered to the students (Loureiro, S. & Santana, S, 2010). For the case of CQ University, its services are always highly rated by the students e.g. given five stars for its online delivery and internationalization in the year 2013 and four stars for its teaching and facility development status. Therefore, it is clear that the institutions brand is highly positioned and valued by the consumers.
Based on the analysis that I have done, CQ University is certainly one of the best university brand in Australia. It has a large market share, market segment, has competitive advantage to its competitors, is highly valued and positioned in its markets to name a few benefits that it has. Therefore, for a product to be successful in its market, it must be able to achieve all of the above aspects.
Brien, D. L. (n.d.). In CQ University. Australia.
Dinnie, K. (2015). Nation branding: Concepts, Issues, Practice. Routledge.
Gronroos, C, & Gummerus, J. (2014). The service revolution and its marketing implications: Service Logic vs Service Dominant. In Managing Service Quality (Vol. 24(3), pp. 206-229).
Lehmann, D. R., & Winer, R. S. (2017). The role and impact of reviewers on the marketing discipline.
Loureiro, S. M. (2011). Consumers love and willingness to sacrifice for a brand. In Conference book Proceedings of ANZMAC conference-Marketing in the age of consumerism: Jekyll or Hyde, (pp. 28-30).
Loureiro, S., & Santana, S. (2010). Effect of consumer perceptions of web site brand personality and web site brand association on web site brand name. In In Classification is a Tool for Research (pp. 743-750). Spring Berlin Heidelberg.
Mukherjee, S, & Shivani, S. (2016). marketing mix influence on service brand equity and its dimensions. Vision, 21(1), pp. 9-23.
Ok, C, Choi, Y. G, & Hyun, S. S. (2011). Roles of brand value perception in the development of brand capability and brand prestige.
Sirianni, N.J., Bitner, M.J., Brown, S.W., & Mandel, N. (2013). Branded service encounters: Strategically aligning employee behavior with the brand positioning. Journal of Marketing, 77(6), 108-123.
Sung, Y, & Campbell, W.K. (2009). Brand commitment in consumer-brand relationships: An investment model approach. Journal of Brand Management, 17(2), 97-113.
Tsai, S. (2011). Strategic relationship management and service brand marketing. European Journal of Marketing, 45(7/8), 1194-1213.
Zehir, C, Sahin, A, Kitapci, H, & Ozsahin, M. (2011). The effects of brand communication and service quality in building brand loyalty through brand trust; the empirical research on global brands. In procedia Social and Behavioral Sciences (Vol. 24, pp. 1218-1231).