MBA503F Marketing for Managers-Brand Positioning Analysis
Answer:
Griffith University has been successful in meeting the sustainable demand from new students. The demand of applicants increased by 12.5% in the year 2012. The university expects to reach quota but many of them are already full. The areas of high demand in Griffith University are identified as Information and Communication Technology (ICT), Engineering, nursing, Rehabilitation Sciences, Law and Criminology. The University also draws students who are interested in Dentistry and Medicine. The South Bank campus has very popular demand for Griffith Film School. In total 50,000 students form a part of Griffith University on its five campuses. Also, the university offers online courses as it meets everyone’s life commitments. The vibrant courses and schedules meet the needs of students thereby making the university more demanding in Australia.
Segmentation and Target Market
Segmentation can be defined as a marketing concept in which the population is divided into different groups or segments having similar traits, characteristics or attributes. The market segments for Griffith University are divided based on demographic profile, psychograph, behaviour and geography.
Demographic segmentation can be defined as the market segmentation based on age, religion, family size, ethnicity, education and income level. The South East Australia is considered more affordable than other localities such as Sydney and Melbourne. As Griffith University is located in South East Australia, the people with middle income and upper level income can sign up at the University (Griffith.edu.au 2017). The courses offered at the University are undergraduate, postgraduate and research degrees. Therefore, the students who have completed their high school education are eligible to enrol at the university. Both men and women who are 18 years of age and above can apply for courses at the university.
Geographic segmentation can be defined as the market segmentation based on cities, regions, states or nationalities. The five campuses of the Griffith university are- Gold Coast campus, Nathan campus, South Bank campus, Logan campus and Mount Gravatt campus. The people living in 10km south of Brisbane in the scenic bushland of Toohey forest or willing to enjoy panoramic views to Brisbane may be more willing to join the university.
Psychographic segmentation can be defined as the market segmentation in which the market segments are based upon different values, personality traits, lifestyles and interests of the consumers. Griffith University opens doors for the researchers interested in innovation. The university attracts the students who want to make new friends and enrich their college life.
Behavioural segmentation can be defined as the market segmentation in which the group is divided based on knowledge, attributes, uses and responses to the product. As Griffith university uses latest technology that support question activity such as surveys, quizzes and polling. Therefore, the students who have a tendency towards using the latest technology and studying in a smart way are segmented.
Targeting can be defined as the marketing strategy in which potential customers are chosen to whom the products and services are sold. The target segment chosen from the above market segments are men and women aged above 18, who have qualified high school having middle level income, living in Brisbane, Southport and Meadowbrook. Also, the students that support the use of technology and are interested in making friends are targeted.
Current Marketing Mix Analysis
Marketing mix is defined as the combination of factors that can be controlled by an organization to influence clients to purchase products. In the education sector, the concept of product mix is slightly different. The marketing mix for Griffith University is determined as under:
Product
In the service marketing mix, service refers to the intangible offerings and it has to be designed with care. Griffith University offers a wide range of courses for students in multiple fields such as engineering, information technology, architecture, business and others. These products packages are available for undergraduates, postgraduates and students willing to pursue higher degree. These programs satisfy consumer needs and wants. The University has ample number of classrooms where qualified, innovative and caring teachers provide services. Griffith University encourages innovation among the students where it arranges counselling for the parents and students (Favaloro, 2015).
Price
Price refers to the amount of money that the client exchanges for the service provided. In the education sector, price is related to the cost of text books, tuition fees and other monetary issues. As the University is located in South East Australia, the people with middle income and upper level income can sign up at the University as it is cheaper than other cities such as Melbourne and Sydney. The textbooks, personal study materials and some support services have inclusive cost in the tuition fees.
Place
Place refers to the location where the educational institute is established. It is also called the service centre. The five campuses of the Griffith university are- Gold Coast campus, Nathan campus, South Bank campus, Logan campus and Mount Gravatt campus. The people living in 10km south of Brisbane in the scenic bushland of Toohey forest or willing to enjoy panoramic views to Brisbane may be more willing to join the university. Therefore, more competitive edge is provided as the localities are attractive. Further, online courses are offered for the students willing to sign up at the university and study through distance education program.
Promotion
Promotion refers to the strategy through which the educational institutions are promoted and target market is attracted. Griffith University chooses social media sites such as Facebook and YouTube to advertise using mass media. Further, web banners are used by the university website to create highly effective advertising opportunity. The university also provides scholarship and uses sponsorship to attract a wide number of students (Griffith.edu.au, 2017).
PEST Analysis
External environment refers to the macro environmental factors that cannot be controlled. Griffith University needs to adapt to the following factors:
Political Factors- The regulatory body of education is Australia is Australian Curriculum, Assessment and Reporting Authority (ACARA) that helps the institutes deliver best quality education.
Economic factors- Education sector employs about 8% of the Australian workers. Australia is not a cheap destination for international students. According to the Australian Bureau of Statistics (ABS), international education earned over $19.5 billion in 2015 making the educational sector full of opportunities (Theconversation.com, 2015).
Social Factors- The students have shifted from studying in traditional classrooms to digital platforms. Therefore, Griffith University needs to create new models to compete with the trends (Marginson, 2015).
Technological Factors- The technological trends can set the education structure in Universities in Australia. Mobile learning and digital classrooms have shifted the structure of education making the market competitive.
Competitor Analysis of Monash University
One of the greatest competitors of Griffith University is Monash University. They are ranked 5 in the world ranking systems (Monash.edu, 2017). Monash also has a student survey satisfaction rating of 84.2% for business 83.4% for health 92.3% for arts 95.4% for science (Monash.edu, 2017). They offer a range of courses that offer academic and English language programs. They have over 70,071 students studying at the University (Monash.edu, 2017).
SWOT analysis
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Strengths · Griffith University ranks 17 in Australia for its quality education. · Offers a wide range of courses for students in multiple fields such as engineering, information technology, architecture, business and others. |
Weaknesses · Other Universities such as Monash University, Central Queensland University and others offer competitive courses and price. · Existing workforce problems to manage the students |
|
Opportunities · Scope relating to technology adaptability to meet student needs · Scope for international expansion. |
Threats · Restriction on international students to study in Australia. · Intense rivalry in Australian education industry |
Table 1: SWOT Analysis
Value and Brand Positioning Analysis
Value positioning can be described as a statement that states the reasons why an organization must use specific products and services. Griffith University offers courses for all people having completed high school making it adaptable, flexible and provider of high quality education. Brand positioning is defined as the target consumers that help buying the brand instead of others. The courses and programs are offered to all the students irrespective of their caste, religion or background. Such inclusive environment with vibrant courses increase demand at Griffith University (Singh, Kalafatis, & Ledden, 2014).
Conclusion
Conclusively, Griffith University has a scope to expand internationally as it runs five campuses currently. The University faces intense competition from Monash University, Central Queensland University as they have more number of students than that in Griffith. The University has ample number of classrooms where qualified, innovative and caring teachers provide services.
References
Favaloro, C. (2015). Marketing in the Australian higher education sector. Journal Of Higher Education Policy And Management, 37(5), 490-506. Doi 10.1080/1360080x.2015.1079396
Griffith.edu.au,. (2017). Cost of studying in Australia. Griffith.edu.au. Retrieved 13 April 2017, from https://www.griffith.edu.au/life-at-griffith/australia/cost-of-studying
Griffith.edu.au,. (2017). Life at Griffith. Griffith.edu.au. Retrieved 13 April 2017, from https://www.griffith.edu.au/life-at-griffith
Griffith.edu.au,. (2017). Online advertising. Griffith.edu.au. Retrieved 13 April 2017, from https://www.griffith.edu.au/information-services/communications/channels/online-advertising
Marginson, S. (2015). Is Australia Overdependent on International Students?. International Higher Education, (54). doi 10.6017/ihe.2009.54.8413
Monash.edu,. (2017). Caulfield campus statistics. Monash University. Retrieved 13 April 2017, from https://www.monash.edu/about/our-locations/caulfield-campus/campus-statistics
Singh, J., P. Kalafatis, S., & Ledden, L. (2014). Consumer perceptions of cobrands: the role of brand positioning strategies. Marketing Intelligence & Planning, 32(2), 145-159. https://dx.doi.org/10.1108/mip-03-2013-0055
Theconversation.com,. (2015). Australia's 'five pillar economy': education. The Conversation. Retrieved 13 April 2017, from https://theconversation.com/australias-five-pillar-economy-education-40831
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