Discuss about the Marketing and Competitive Environment and Strategy.
The report provides an insight into the marketing plan for the La Trobe University in Australia. It is a multi campus university with a flagship campus situated in the Melbourne suburb. The university was established in 1964 and knows as the third largest university in Victoria. The University Stands at 12th place in all over Australia. It is a verdant university and a well-known member of the Innovative research university. . The university offers undergraduate and post graduate courses through its colleges of Art, Science, Commerce and science & Technology. In 2015, the University was ranked in the top 100 universities as per Times Higher Education World University Rankings (About Vision. 2017).
The La Trobe University very well works with the student, staff and the community in order to make sustainable environment. They have undertaken responsibility in order to prepare leaders for tomorrow. There purpose is to recognize the sustainability encompassing economic, social and cultural dynamics. . Like this the university has become a leading sustainable university in Australia. The brochure of university very well represents the environmental sustainability. The University is very well-known for the innovation and research projects carried by them in the recent time. Moreover it attracts students from abroad to pursue post graduate courses and research projects. Special scholarships are also provided by the university to those students who have secured good results in their previous exams (About Us, 2017).
The current Australian market in terms of education industry has lot of potential. Apart from the local student there is competition from the other Universities located in other states. In coming years the industry will see a growth in the sector.
The market is currently focusing on the students from the local as well as from other countries. In recent time there is an increase in the students from other countries. Scholarship and finance assistance need to be given to those who are in need. In this manner the University can see a sustainable growth in the coming time.
The University Stands at 12th place in all over Australia. It is a verdant university and a well-known member of the Innovative research university. The metropolitan campus of the university is one of the largest in the country. The University is providing specialized knowledge and has an effective marketing distribution.
There is an excess competition from the other Universities. The university has very well recognized sustainability across various operation, curriculum and research. The university has embedded sustainability in its practice by engaging staff, student, employers and partners
The metropolitan campus of the university is one of the largest in the country. The two other major campuses of the university are located in regional Victorian city of Bendigo and Albury- Wodonga. It is one of the finest Universities located in Australia
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Strength · Multi campus university · The third largest university in Victoria · Stands at 12th place in all over Australia · Metropolitan campus of the university is one of the largest in the country · Very well works with the student, staff and the community in order to make sustainable environment. · Became a leading sustainable university in Australia |
Weakness · Excessive competition from the other universities located in Australia. · Need to carry out new programmes focusing on career oriented training · Campaigning process is weak as compared to the Universities · Less oversee admissions as compared to the decided goals |
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Opportunities · Opportunity to develop the campus in order seeks attention from local and international students. · To add more programs in the curriculum · Exchange programme will help in adding value to the University · To attract more international students · Add efficient faculty in order to provide efficient quality education |
Threats · Excessive competition · Limited seats creates excessive competition for international students · Faculty switch |
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Political · The Australian government is in support of promoting education. · For the purpose public universities are allotted with special grant. · La Trobe is a multi campus university with a flagship campus situated in the Melbourne suburb. · Stable government in the country makes less fluctuation in the rules and regulation (Cravens & Piercy, 2006). · International student receive safety and security assurance. |
Economic · The net disposable income of domestic population is high. · More investment in the field of education is likely to increase in near future. · Education loan and support is provided easily for students who want to pursue high education. |
Social · More attention is given to the employment based knowledge. · People are likely to spend as per the current economic condition. · Moreover there is a flow of income from Asian countries due to increase in number of international students (Wood, 2008). |
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Technological · Technology is given special preference at every level in the University · The University is centrally operated through technology · Students are connected through online system where all the projects and paper submission are done on system. |
Legal · The University is a registered body · The university is well operated from 1964 providing quality education. |
Environmental · The university has very well recognized sustainability across various operation, curriculum and research. · University is been focusing on developing sustainable environment for the students. |
It is essential for the university to develop itself according to the current requirement. There are already many Universities delivering quality education. Under such a competitive atmosphere it is necessary to focus on every aspect. The university needs to add exchange programme into curriculum so that they attain sustainable results. More focus need to be given to the international students. There is an increase in the number of international participation (Cohen, 2005). Adding more programmes to the curriculum will help the university in gaining significant result. Short term courses should be added in the overall curriculum. This will help in attaining effective result. The campaigning process need to be managed on the basis of the international students. The recent trends have shown that there is an increase in international admissions (Jain & Haley, 2009; University College strategic Marketing plan 2015-2017, 2017).
Conclusion
To conclude it is necessary that the marketing plan of the University should be student centric. It is a verdant university and a well-known member of the Innovative research university. The metropolitan campus of the university is one of the largest in the country. The report very well defines the marketing plan that focus on developing the efficiencies. The SWOT and PESTLE analysis help in understanding the macro environmental factors. The university needs to manage the education system by stabilizing the competitive environment. In this manner they can earn competitive edge over the other Universities brand.
References
About Us (2017).(Online). Retrieved from: https://www.latrobe.edu.au/ (Accessed on: 25 March 2017)
About Vision. 2017).(Online). Retrieved from: https://www.latrobe.edu.au/about/vision (Accessed on: 25 March 2017)
Cohen, W. A. (2005). The marketing plan. John Wiley & Sons.
Cravens, D. W., & Piercy, N. (2006). Strategic marketing (Vol. 7). New York: McGraw-Hill.
Jain, S. C., & Haley, G. T. (2009). Marketing planning and strategy. Cincinnati South-Western Publishing Company 1985.
University College strategic Marketing plan 2015-2017. (2017).(Online). Retrieved from: https://uc.kennesaw.edu/resources/resources_docs/uc_marketing_plan_2015_2017.pdf (Accessed on: 25 March 2017)
Wood, M. B. (2008). The marketing plan handbook. Pearson Prentice Hall.
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