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/
- 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