BUS620: Managerial Marketing
Instructor Sharif Muhammad
March 25, 2012
Educational institutions have been the critical piece in a person’s career for a long time. More people are taking advantage of an advanced education to increase their pay and positively impact their careers. Campuses are growing larger every day to accommodate changes in technology, enrollment, and the demand for better education. An online MBA program will help the university alleviate the current space issues and increase the admissions.
Executive Summary of Marketing Plan
In recent years enrollment into online MBA programs have increased. Increasing ...view middle of the document...
For this reason, marketing will be primarily focused on people who need this convenience in order to be able to further their education. The people needing this convenience most would be working parents. Many working parents are unable to quit working in order to attend a regular brick and mortar educational institution due to needing an income to survive. It may also be hard for them to attend night classes as this would interfere with their family time. For this type of student, the benefit of having a flexible schedule will be the biggest draw. Many times they have numerous family obligations to contend with and the ability to schedule their study and homework time around their family obligations will appeal to them.
Another large group that an online MBA program would appeal to would be working professionals. This group of possible customers are already working in their field of choice and do not want to leave their current positions to pursue an advanced degree. They would benefit from having the additional education to further their careers, but do not necessarily want to put their careers on hold in order to obtain it. They also will benefit from the ability to schedule their education around work commitments, such as business meetings and travel requirements. Another advantage of an online program is the ability to relocate for work if need be without having to change educational institutions (Lytle, 2012).
Description of Competitors
With the increase in online learning facilities, the competition has become very fierce. There are three main forms of competition that are faced. The first is the brick and mortar campus. This form of competition lacks appeal to our target market as we are targeting potential students for whom a regular classroom structure and schedule will not work for.
The second form of competition is from programs such as Kaplan College and University of Phoenix. These competitors have brick and mortar facilities, but they are not of the scale of major universities. The majority of their programs are offered through online platforms. Generally, the degrees earned through these institutions are not as highly desired as those earned through typical college settings. We can appeal to potential customers by highlighting our accreditations and standards of education as compared to these types of institutions.
The final form of competition comes from other universities similar to ours. These are other brick and mortar universities offering an online MBA program option. Like us, they are accredited institutions. In order to compete with these, we will focus on our pricing strategy and service quality. By maintaining aggressive pricing policies and offering exceptional service, we will be able to maintain an advantage over these competitors.
Description of Product or Service
We currently maintain a brick and mortar university institution. We have in recent years expanded our...