The establishment of the University of Sydney in Australia is made in the year 1850 and is also identified to be engaged in the form of showing the public researches as it is being made over the past 167 years. It is located in the capital city of Australia and is also identified to be showing the location of the Australia. The University of Sydney is described as one of the leading universities of the Australia and also the modern progressive opportunities can be easily established by showing the setting of the Australia’s first university. The Idea for the development of this university is described to be showing the appropriate establishment of the opportunities as it is defined to be showing the destinies of the Australia. Thus the work is being explained by illustrating the proposed idea which is being developed for the establishment of the work as it is being explained in this case. This is simply explaining the foundation principle of the William Charles Wentworth who is responsible for this setting (Paul, Cadle, & Yeates, 2015). Thus the organization values and the proposed promoting activities are appropriately carried out since the centuries and also the appropriate establishment of the work can be easily made by illustrating the values and also the opportunities can be easily gained by the Organization University of the Sydney. Thus the university’s rank is explained to be illustrating the opportunity which is being provided to the women with showing the opportunities for having the equal education as per the men are having. This is simply explaining the diversifying promotional techniques as it is being adopted by the organization for the betterment of the study. This enables in determining the rank university and also it stands at ranking one out of the top three universities of Australia.
The demand analysis can be made by showing the position of the ranking and also the analysis of the University of the Sydney can be made by showing the strong presence across the Australia. It is simply defining the appropriate characteristics as it is facing the major competitions with considering the rivals that are present in the market. This shows that the University of the Sydney consists of the 70 researchers with 3400 academic staffs and also the teaching centers (Etzel, Walker, & Stanton, 2007). The University of the Sydney is depicted to be connected with the 300,000 alumni across the world and also the engagement of the student of the University of Sydney is showing the appropriate exchange agreements as it is being carried out. The award of about 400 million dollars are made to be university for the researches conducted by the University and also the well being of the university can be easily seen in this case. The adoption of the researches are illustrating the views that are conducted by showing the explanation of the work and also it is providing the views which is being made by showing the methods of the promotion for illustrating the opportunities as it is being notable by the University of Sydney (Floyd, 2006). Thus the university is building the market demand for the style of the education provided to the students as it is showing the expansion of the business with illustrating the higher range of the opportunities for the research offers and also the several notable research works can be easily explained by showing the working of the opportunities. This is simply explaining the processes adopted by the University of Sydney for the growth of the demand in the market as it is being analyzed by illustrating the workings and also the offers provided for the business.
The environmental analysis is most important for the development of the marketing strategies of the organization. The operational activities and the performance of the business organizations are largely influenced by the environment in which the organization operates its business. There are some environmental factors, which have a significant impact on the organizations but the organizations have not any control over the factors, these environmental factors are political factors, economic factors, social factors, and technological factors (Hamersveld, & Bont, 2015). These factors can be analyzed by the PEST analysis tools. Hence the PEST analysis is important for the business organization for devising business strategies for the organization. For preparing the marketing strategy of the University of Sydney, the PEST analysis has been performed. The PEST analysis of University of Sydney is as follow:
Political factors
The Australian government is very much supportive to the higher education institutes, and thus the federal government along with other states and local governments have developed and implemented favourable policies for the universities. The policies support the objectives of the universities to grow in this market.
Economic factors
The economic position of the Australia is stable from a long time. The country is one of the developed countries, and the recession has not much impact on the economy. The higher education segment of Australia; especially the international education sector provides a substantial contribution to the national economy. As per the Australian Bureau of Statistics (ABS), the international education sector of Australia contributes $1 billion to the national economy (Jeannet, & Hennessey, 2004).
Social factors: The social factors are important for the business as a society in which the business operates has a huge influence over the business activities of the organization. Moreover, in the case of the University of Sydney, it is perceived that like other developed nations in Australia also can be observed incrementing demand for higher education. Besides this, the Federal Government of Australia along with other state and local governments actively work in this field. The government authorities engage in develop most supportive as well as favorable policies to manage the incrementing demand for the higher education in this country.
Technological factors: The technologies are developing in a regular basis. Constantly new technologies come out with more advanced features and take places of the old technologies and make the old technologies obsolete. In this context, it is necessary to upgrade the technologies used within the organizations in order to take the advantages of the technologies. The Australian universities used the most advanced technologies in order to maintain the competitiveness of the universities. The technologies such as multimedia, social media, and online courses are widely applied by the teachers for teaching their students (Kuada, 2008).
In order to devise effective marketing strategies for the business organizations the competitor analysis is most important as it helps in knowing the competitive environment of the industry. There are Australian universities which cater services to the international students are mainly the competitors of the University of Sydney. The University of Queens land, Griffith University, and James Cook university are the key rivals of the university. The universities provide similar types of course and other facilities to the foreign students, hence the competition between the universities is increased. The university of Sydney face stringent competition from these universities in order to attract the internal students to the university. The other universities offer more discount and rebate in the fees of the courses as well as offer exclusive scholarship for the students whose name appear in the merit list. Apart from this, the universities also offer employment opportunities for the foreign students in order to maintain their expenditure in Australia, which encourage the students to enrol with these universities. Hence, the University of Sydney also implement more innovative and efficient strategies, which will be helpful for the university in order to improve its competitiveness.
The SWOT analysis is being conducted for the purpose of identifying the internal and the external factors that are benefitting as well as they are affecting the organization and also it is affecting the values of the organization. This is simply explaining the appropriate strengths and the weaknesses with the opportunities as it is being explained in this case.
Strengths:
Weaknesses
Opportunities
Threats
The value and the Brand positioning analysis can be easily made by illustrating the work processes as it is being adopted by the University of Sydney and also it shows the development of the brand name as it is being expected by the University of Sydney. The development of the brand name for the University is depicted to be gained, and also it is showing the explanation of the work which is showing the illustrations of the work (Lamb, Hair, & McDaniel, 2004). This is simply illustrating the focus which is illustrating the work processes and also the execution of the work is shown to be explaining the framework which makes the University of Sydney maintain is a brand name. Thus, the explanation of the workings as it is being made by illustrating the works which are being explained in this case. The workings are explained by showing the expansion of the requirements as it is being illustrated in this case and also the positioning of the industry is being made by showing the rankings as it is established by the University of Sydney.
The core marketing objective of the University of Sydney is to improve its business by attracting more and more foreign students for enrolling with the University for their required courses and grow the business of the university. The university aims to become a most popular university in Australia for especially the students from other countries. For accomplishing the core aim of the university the university has to detect the current market need and demand, so that can recognize which course are required to develop by the university in order to attract more students from other countries (Paul, Cadle, & Yeates, 2015). Then, the university has to recognize the market thus require the segmentation of the market. After effective segmentation, the university requires identifying the target market whom the university can offer it course. Then effective positing strategy help in putting the courses offered by the universities in the mind of the students. In order to promote the university within the foreign students, it has to create an effective atmosphere for the foreign students. The university has to offer discounts as well as rebates to the underprivileged foreign students. Apart from this, the university has to provide scholarship to the students who have extensive merit. In these ways, the university can promote itself to the students of other countries.
The market mix strategies of University of Sydney are given below:
Product: The University of Sydney offers courses in different fields such as law, economics, information technology, engineering, agriculture, accounting, psychology, humanities, etc. The courses provided by the University are many, and the students can take admission on the basis of their capability. The courses are provided to attract more students and giving them a unique experience (Bowman, & Gatignon, 2010). The management has focused on providing courses in all the fields of the education.
Price: The tuition fees are estimated by the residency status of the student, and the course enrolled in. According to the degree, fees can different for postgraduate and undergraduate students. Total tuition fees are estimated at the free rate for the semester of that academic year. In the Commonwealth supported place all the students receive the subsidized rate from the government. The structure of fees is appropriate for the students (Pinnock, 2010).
Figure: Fees and charges of University of Sydney
Source: Annual Report, 2016
Place: The University has research and teaching network from the inner city to the great barrier reef of Sydney. The Camberland campus is located in Lidcome, Camden campus located in outside the Sydney city, Mallet Street Campus is located in Camperdown, Rozelle campus located on the green grounds near harbourside, medical school campuses and hospitals are based in all across the New South Wales. The Sydney conservatorium of music is located in Royal Botanic Gardens. The University has its campus in a different location of the country (Pinnock, 2012).
Promotions: The University of Sydney has also put the focus on the promoting its courses and quality of education provided by the teachers. The University has its own website where the students can get all the details and information. However, the management team of the University can use other promotional techniques and strategies for the promotion of their products such as increasing online presence, especially in social media. Nowadays, maximum people especially students use social media websites, and it provides a wide opportunity to the University to promote their products (Steele, 2009).
The competitive strategies of the University of Sydney are based on the long-term plans in order to gain a competitive advantage in the industry over its competitors. The management team is focusing on providing quality course program at low cost with the help of efficient utilization of the resources. The University will differentiate itself by providing more job opportunities in all the field areas of the coursework. The University encourages the students and staff members to participate in all the events and global competitions (Ries, & Trout, 2006). The staff members are provided with adequate education and training in order to enhance their efficiency. The students will get benefit from the opportunities provided by the University. The management has adopted strategies to compete in the market such as the introduction of course works, low fees and tuition for the students and high-quality education. The University is engaging itself in cultural and social works (Sen, 2008).
The management of the university reviewed the programs for the release of the information. The University produces media reports to depict the achievements and performance of the University in the field of learning, investigation, and engagement. The representatives of media can subscribe to the news of the University and receive the information through email (Higgins, 2016). The budget is prepared to allocate all the financial resources and also determining the performance of the University. The main objective of the preparation of the budget is to depict that the university meets all the obligations and also able to meet the current objectives and goals. The budget is prepared as per the accounting rules and regulations, and the management team is responsible for managing all the income and expenditures (Subramanyam, 2014).
|
Revenues |
|
|
Student Tuition and Fees |
|
|
Student tuition |
40,38,17,361 |
|
Student fees |
10,83,09,234 |
|
Subtotal – Student Tuition and Fees |
51,21,26,596 |
|
Investment and Interest Income |
1,12,38,869 |
|
Grants and Contracts |
|
|
State and Local Grants & Contracts |
4,47,11,878 |
|
Subtotal – Grants & Contracts |
5,59,50,747 |
|
Private/other gifts, grants and contracts |
22,05,81,393 |
|
Sales & Services of educational departments |
18,04,04,163 |
|
Auxiliary Operating Revenues |
24,04,77,273 |
|
Health Services |
67,30,19,221 |
|
Other Revenues: |
0 |
|
Indirect Cost Reimbursement |
15,88,87,188 |
|
TOTAL REVENUES |
2,04,14,46,581 |
|
Expenditures |
|
|
Educational & General: |
|
|
Research |
52,51,93,839 |
|
Public Service |
10,79,76,467 |
|
Academic Support |
19,18,35,776 |
|
Student Services |
11,20,09,215 |
|
Institutional Support |
12,76,45,668 |
|
Scholarships & Fellowships |
18,92,61,636 |
|
Auxiliary operating expenditures |
21,56,35,666 |
|
TOTAL EXPENDITURES |
1,46,95,58,267 |
|
Transfers Between Funds |
|
|
Mandatory Transfers |
|
|
Principal and interest |
11,60,62,513 |
|
Subtotal — Mandatory Transfers |
11,60,62,513 |
|
Other |
7,84,74,638 |
|
Subtotal Voluntary Transfers |
7,84,74,638 |
|
TOTAL EXPENDITURES & TRANSFERS |
1,66,40,95,419 |
|
Net Increase /Decrease) in fund balances |
37,73,51,162 |
The analysis of the University of Sydney shows that the University has established its brand name in the market. The University provides a friendly environment to both the staff members and students. The management team of the University is facing difficulties due to uneven work distribution and pressure. The University provides all types of courses to the students and also has enhanced their efficiency. The University has to follow the rules and regulations and also to carry out its activities keeping in mind the welfare of the society. The management team has managed the human, physical and financial resources. It is the responsibility of the management to manage the operations and resources of the University in an appropriate manner.
References
Annual Report. (2017). Retrieved 30 May 2017, from https://sydney.edu.au/dam/corporate/documents/about-us/values-and-visions/6324%20Annual%20Report%202016.pdf
Appannaiah, P., & Reddy, D. (2010). Business Management. Himalaya Publishing House.
Bowman, D., & Gatignon, H. (2010). Market response and marketing mix models. Boston: Now.
Etzel, M., Walker, B., & Stanton, W. (2007). Marketing. Boston: McGraw-Hill/Irwin.
Floyd, D. (2006). Business studies. London: Letts.
Hamersveld, M., & Bont, C. (2015). Market research handbook. Chichester, West Sussex: John Wiley & Sons.
Higgins, R. (2016). Analysis for financial management. London: McGraw-Hill Education – Europe.
Jeannet, J., & Hennessey, H. (2004). Global Marketing Strategies. Boston: Houghton Mifflin.
Kuada, J. (2008). International market analysis. London: Adonis & Abbey Publishers Ltd.
Lamb, C., Hair, J., & McDaniel, C. (2004). Marketing. Mason, Ohio [u.a.]: Thomson/South-Western.
Mitre?ga, M. (2006). Market analysis. Katowice: Publisher of the Karol Adamiecki University of Economics.
Palepu, K., Healy, P., & Peek, E. (2016). Business analysis and valuation. Andover, Hampshire, United Kingdom: Cengage Learning EMEA.
Paul, D., Cadle, J., & Yeates, D. (2015). Business analysis. Swindon: British Informatics Society Limited.
Pinnock, A. (2010). Business studies. Claremont [Cape Town]: The Answer.
Pinnock, A. (2012). Business studies. Claremont [Cape Town]: The Answer.
Ries, A., & Trout, J. (2006). Marketing warfare. New York: McGraw-Hill.
Sen, M. (2008). Business Management. New Delhi: Global Media Publications.
Steele, J. (2009). The Market. New York: Disney/Hyperion Books.
Subramanyam, K. (2014). Financial statement analysis. New York: McGraw-Hill Education.
Worthington, I., & Britton, C. (2015). The business environment. Harlow, England: Pearson.
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