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Marketing and competitive environment of Deaking University in Australia

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Marketing and competitive environment of Deaking University in Australia

CONTENTS

Contents ………………………………………………………………………………. 2

EXECUTIVE SUMMARY …………………………………………………………… 3

Introduction

Introduction – Universities in Australia ………………………………….. 4

Few Australian Universities ………………………………………………. 4

Deakin University …………………………………………………………. 5

Purpose and Rationale …………………………………………………… 5

Market Summary ………………………………………………………………… 5

Demand Assessment …………………………………………………………….. 6

Segmentation and Target Market ………………………………………………… 6

Target Market …………………………………………………………….. 7

Marketing Mix ……………………………………………………………………. 7

PEST Analysis ……………………………………………………………………. 9

Competitor Analysis ……………………………………………………………… 10

SWOT Analysis ……………………………………………………………………10

Value and Brand Positioning Analysis …………………………………………….11

Conclusion …………………………………………………………………….. 12

References …………………………………………………………………….. 12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Executive Summary

The prime objective of my project is to analyse the “marketing and competitive environment” of Deaking University in Australia. This university is situated along different campuses in Geelong, Warrnambool and Burwood,Melbourne. It offers both Undergraduate and Post Graduate courses to students across countries and is also known to be the Australia’s fastest growing research universities.

From my studies, after understanding the scenario I have developed or suggested techniques which can be followed by the university to improve on their marketing techniques which will help them attract more students during the year and increase the creditability of the university.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTRODUCTION

INTRODUCTION – UNIVERSITIES IN AUSTRALIA

The idea of study abroad is not new. When students think about study abroad, their major focus comes on Australia without any doubt. It is known to be one of the most popular study destinations in comparison to other educational country choices.

The reasons are many:

Firstly, it is the beauty of the country itself. It boasts two beaches known as the Eighty Mile Beach and Ninety Mile Beach and 10,683 other smaller beaches on its mainland alone.

Secondly, the well-known and the most popular universities are located in Australia which makes it another reason to be one of the favourite study destinations in the globe.

FEW AUSTRALIAN UNIVERSITIES

Australian Capital Territory:

Australian National University

University of Canberra

Queensland:

Bond University

CQ University

Griffith University

James Cook University

University of Queensland

Victoria:

Deakin University

Federation University of Australia

La Trobe University

Monash University

RMIT University

Victoria University

University of Melbourne

 

 

 

 

DEAKIN UNVIERSITY

Deakin University is an Australian Public university with 50000+ higher education students. The university was established in the year 1974 and was named after the leader of Australian federation movement and the nation’s second Prime Minister, Alfred Deakin. The university has campuses in Geelong, Warrnambool and Burwood and the learning centres in Dandenong, Craigieburn and Werribee.

The university is divided into four faculties including arts and education, business and law, health and science, engineering an environment. Within the arts faculty, the three schools cover education, social sciences, humanities, communication and the creative arts. The Faculty of Health has the School of Medicine, along with schools covering nursing, exercise and nutrition sciences, and the faculty incorporates subjects such as occupational therapy, social work, and health economics into the School of Health and Social Development. The Deakin University School of Law and the Deakin Business School both fall under the Faculty of Business and Law, and the Faculty of Science, Engineering and Built Environment encompasses architecture, information technology, engineering and environmental sciences.

 

PURPOSE AND RATIONALE

Purpose: The purpose of the study is to analyse the marketing and competitive environment of Deakin University, Victoria.

Rationale: The reason for choosing Deakin is because there are various courses being offered by the university and more students opt for this university in terms of research courses. I will analyse their marketing environment and suggest ways to improve their marketing techniques which will drive more students into the university.

MARKET SUMMARY

Deakin University has the highest ranking with world class graduates every year. The university also offers industry specific degree programs which makes a student ready with both practically and with the theoretical aspects.

The university is ranked among the Top 2% universities worldwide and in the Top 50 universities under 50 years of age according to Times Higher Education. Deakin has also been ranked first in the Australian State of Victoria for student satisfaction for the last six years.

The university is ranked #3 in terms of Australia’s graduate employability. The university offers flexible study opportunity for students in terms of part time or full time or study wholly online at Deakin’s cloud campus. There are lot of factors that creates demand for the marketing environment of the university.

 

DEMAND ASSESSMENT

An overview of marketing environment generating demand for universities

Marketing Factors: Marketing factors of a university serves as a boon and bane to environment. They attract students more or less likely depending on their target budgets. Pamphlets, advertisements, banners and emails are few ways to increase the marketing strategies of a university.

Political – Legal Factors: The political-legal factors includes the age, population criteria and the affordability of the students in terms of the education.

Economic Factors: Economic factors such as market analysis, rankings of the university, fee rate, scholarships provided are some of the factors that majorly contribute to the selection of the university.

Socio-Cultural Factors: This factor plays another major role in determining the culture of the university. The university should provide all aspects of learning to the students that include cultural celebrations, sports and other extra-curricular activities which determines in their success.

SEGMENTATION AND TARGET MARKET

Market segmentation is defined as a process by which a broad customer or a business market is divided based on certain characteristics such as common interests, lifestyle etc.

There are four types of market segmentation such as:

Fragmentation (pre 1880s): where the economy was characterised by regional suppliers who sold goods on a local or regional basis.

Mass Marketing (1880-1920s): where the goods were distributed to a large group of consumers.

Segmentation (1920-1980s): it is based on the demography and psychographic availability of market segments

Hyper-segmentation (1980s+): a shift towards more narrow market communicating with individual consumers.

Deakin has moved from Mass Marketing to Hyper-Segmentation since it is able to narrow down and cater the needs of students separately based on their qualification and credit structure. It offers extremely clear picture of the requirements of students such as Arts, Technology, Sciences and Humanities. The university approaches the students with a clarity in its curriculum which helps in clear understanding of the necessities and drives the student’s passion to the university.

 

 

 

TARGET MARKET

Deakin targets every single student who has the passion to learn more. They have a structured course for every department of study. Their undergraduate programs targets student who have completed their high school and is looking to move to university. Pre-University evaluations are made and are taken as yet other important criteria to assess the student’s capability and take them into consideration. This way, the university ensures that the most deserving candidate comes into the university and their standards are maintained. Post-graduation courses are opted by students who have completed their under under-graduation and is looking to expand knowledge in a specific area, for example: business.

MARKETING MIX

Marketing Mix in education has communicative and operative functions. Communicative function includes the need to communicate or introduce the relevancy of services/needs/performance whereas operative function aims to remove boundaries in transactions or exchange so that the users can make the exchange of process with minimal effort.

Product:

Deakin offers education courses as the product when we analyse the marketing mix. It provides both under-graduate and post-graduate courses which benefit the students in transforming their career.

List of Courses provided by Deakin:

Undergraduate Courses:

Associate Degree of Arts

Associate Degree of Education

Bachelor of Applied Science

Bachelor of Arts

Bachelor of Biological Science

Bachelor of Biomedical Science

Bachelor of Information Technology

Bachelor of Commerce

Post-Graduate Courses:

Master of Commerce

Master of Philosophy

Master of Arts

Master of Applied Sciences

Master of Business Administration

 

Price:

Price of the courses at Deakin depends on number of factors such as competition between various universities, quality of education and the quality of teaching offered by the professors in the university, technological improvements, infrastructure, location of the university, mode of education offered, brand recognition etc.

The average rate for under-graduate courses range between $15,000 – $25,000 and the average rate for post-graduation courses ranges between $30,000 – $40,000 depending on the above mentioned factors and the selection of the university.

Place:

Place refers to the location where the university is location. This enables easy access for the students and depends on various factors such as availability of bus and train facilities etc. Deakin is situated in major locations such as Geelong and Burwood which is the reason for the premium price that a student pays.

Promotion:

Promotion strategies are often used by universities to market their product/course offerings and why a student should be part of the university. The various promotion strategies used by Deakin are:

driving and managing both traditional and digital marketing channels

organising events

creating advertising campaigns and strategies

producing merchandise

designing visual design

managing the structure and messaging of all marketing channels

 

People:

A university cannot function without people. Hence personnel are an important factor. The professors and the students play an important role in the success of the university. Satisfaction and retention of professors and students is the key to achieving a successful university.

Process:

Process defines the Scope of Work under which a university functions. The process has to be easy to be and adoptable with no hassles so that it can be student friendly. Deakin has an easily adoptable process that can be acceptable across the teams and this helps in better marketing structures.

Physical Evidence

Physical Evidence is the direct sensory experience of a service that allows a student to measure the satisfaction of a student.

Few evidences:

Infrastructure

Class rooms

Office rooms

Technological advancement

Extra-curricular activities

PESTLE ANALYSIS

 

Political

Autonomous Universities

Government based universities provides much scholarships to attract students

Changes in the skills needed

Adoption of new curriculum

Self-financing requirements

Economic

Government funding decisions may affect establishment finances

Ability of parents to raise funds for their child

Cost of providing resources such as staffs, books etc

Shortage of materials/international markets

Social

Local population changes

Decision of students change

Social networking plays a major role

Parental preference with choosing the university various from traditional teaching to flexible study options

Technological

Changes in technology used

Changes in equipment/advancements

Replacing traditional paper and pen with ipad, note etc.

Legal

New rules from government affects the way a university functions

Changes in university program timings

Environmental

New constructions near the university

Election campaigns affecting the students/university

Changes in bus/metro routes

 

COMPETITOR ANALYSIS

 

The following are the competitors of Deakin:

La Trove University

Monash University

University of Melbourne

Swinburne University

CQ University

SWOT ANALYSIS

Strengths

Brand Identity

Affordability

Central Location

Part time and full time courses to support the convenience of students

Knowledgeable faculty

Library accessibility

Weakness

Many competitors

Understaffing at many levels

Lesser financial support

 

Opportunities

Research studies can be improved

Online opportunities worldwide

Student exchange programs can be utilised

Becoming a leader in interdisciplinary and integrated learning

Threats

Reduced public funding

Students might move to universities offering better courses in the same fee structure

Nearby public transport might become lesser since there is lesser working atmosphere

VALUE AND BRAND POSITIONING ANALYSIS

Brand positioning refers to the process in which the brand of a specific product or service is fixed into the customer’s mind. They do not prefer purchasing from any other brand except this brand. Similarly Deakin has made a wonderful mind set in people to accept and look for their educational brand in terms of university selection.

 

Value based prices

Deakin’ product offerings

 

 

Product features and quality Services mix and quality

This brand positioning is due to the below factors:

Availability of multiple courses for under-graduation and post-graduation

Excellent infrastructure and library facilities

Excellent curriculum and intercultural atmosphere

Diversified students across countries

Extra-curricular activities

Ease of transportation

Multiple campus availability

Deakin has followed the 7-Step Brand Positioning Process which is as follows:

Determining their current brand including the strengths and weakness and what can they do better to offer its customers much more.

Identifying the direct competitors and following their activities closely so that they can improve and provide at a much better cost without compromising on the quality.

Understanding about their competitor brand effectiveness.

Identifying their uniqueness by comparing it with their competitors.

They have clearly identified their target market and is working in improvising on them.

Making their brand statement much louder.

Increasing their brand efficacy.

 

 

CONCLUSION

Deakin as such is on the Top 2% best university list. If they have to be continuously on top, they have to maintain the cost without increasing it often and providing more short term courses to students which will enable them to complete the same sooner and be ready for the practical aspects. This not only increases the reputation of the university but also leads to more profits in a short time.

The university has 3 campuses in Australia. They can also establish local universities in other countries (max 2-3 countries) but analysing the market requirements which will position them in the global ranking.

 

REFERENCES

Deakin University (2016, July) Faculty of Arts and Education. Retrieved from http://www.deakin.edu.au/arts-ed

Deakin University (2017, March 31), Deakin News. Retrieved from https://blogs.deakin.edu.au/navigator/

Deakin University (2017, February 20), Research Papers. Retrieved from http://www.deakin.edu.au/research/

  1. Igor Ansoff (1957, April), Ansoff Matrix, Retrieved from https://www.mindtools.com/pages/article/

Dana L. Alden, Jan-Benedict E. M. Steenkamp and Rajeev Batra (1999, January), Journal of Marketing. Retrieved from http://s3.amazonaws.com/academia.edu.documents/

Ming-Jer Chen (2017, April), Academy of Management Review. Retrieved from http://amr.aom.org/content/21/1/100.short

 

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