1MARKETING ACROSS CULTURES Executive Summary The aim or objective of this report will be tooutline marketing plan for entry of the UH Business School into the emerging market of Singapore, with providing proper justifications related to the market expansion for the given business school.The aim of this assignment will be to demonstrate the understanding of the process of a global corporation that strategically manages its marketing operations across global markets and cultures. A report needs to be prepared where the outline marketing plan for the Hertfordshire Business School, who are planning to expand their educational services in the region of Singapore with business related programmes of study. Analysis will be done by using SWOT as well as PESTLE analysis, along with the 7P’s of marketing. The action plan will also be there in this report, apart from evaluation and analysis of the educational industry in both the regions of Singapore and the United Kingdom. A brief conclusion will end this report, where the overall analysis and findings will be laid.
2MARKETING ACROSS CULTURES Table of Contents Introduction................................................................................................................................4 About the Business School.........................................................................................................4 Findings about the Educational Sector in Singapore.................................................................5 SWOT Analysis.........................................................................................................................5 PESTLE Analysis.......................................................................................................................6 Political..................................................................................................................................6 Economic................................................................................................................................6 Social......................................................................................................................................6 Technological.........................................................................................................................7 Legal.......................................................................................................................................7 Environmental........................................................................................................................7 7P’s Analysis..............................................................................................................................8 Product...................................................................................................................................8 Price........................................................................................................................................8 Place.......................................................................................................................................8 Promotion...............................................................................................................................9 People.....................................................................................................................................9 Physical Evidence..................................................................................................................9 Process..................................................................................................................................10 Cultural Differences.................................................................................................................10 Action Plan...............................................................................................................................10
3MARKETING ACROSS CULTURES Conclusion................................................................................................................................11 References................................................................................................................................12 Appendix..................................................................................................................................13
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4MARKETING ACROSS CULTURES Introduction The main purpose of this report will be tooutline marketing plan for entry of the UH Business School into the emerging market of Singapore, with providing proper justifications related to the market expansion for the given business school.The aim of this assignment will be to demonstrate the understanding of the process of a global corporation that strategically manages its marketing operations across global markets and cultures. A report needs to be prepared where the outline marketing plan for the Hertfordshire Business School, who are planning to expand their educational services in the region of Singapore with business related programmes of study. Analysis will be done by using SWOT as well as PESTLE analysis, along with the 7P’s of marketing. The action plan will also be there in this report, apart from evaluation and analysis of the educational industry in both the regions of Singapore and the United Kingdom. A brief conclusion will end this report, where the overall analysis and findings will be laid. About the Business School In this context, it can be said that Hertfordshire Business School or The University of Hertfordshire(UOH)isapublicuniversitylocatedmostlyinHatfield,whichisin Hertfordshire. The college was founded in the year of 1948 but then the name was Hatfield Technical College. The university was identified as one of the 25 educational institutes of technology in the region of the United Kingdom in the year 1959. The name was changed from Hatfield technical college to Hatfield College of technology in 1960. The educational institute was recognised as one of the 25 Regional colleges in the region of Wales and England. The degree of BA Honours Business Studies was approved in this educational institute in the year of 1966. There were almost 9,000 students who were present during the
5MARKETING ACROSS CULTURES time of 1992, and Hatfield Polytechnic change its name into The University of Hertfordshire, with 5,000 students with them approximately. It can be said in this context that the university possess business related courses which helps to secure admission in this university from different parts of the world and helps them to secure jobs from different sector around the world (Herts.ac.uk 2019). Findings about the Educational Sector in Singapore The overall educational sector in the region of Singapore is managed by the Ministry of Education, which possess the power to control the administration as well as development of the schools, colleges and universities that are present in the region of Singapore. The overall budget of this sector in the year of 2018 was S$12.8 billion. 20% of the annual national budget is allotted for this sector in Singapore, thus making a good opportunity for the international educational institute like The University of Hertfordshire to expand in this market and provide the courses that are studied in the United Kingdom to the students of Singapore (Mathew and Balachandran 2018). It can be said in this context that many universities from abroad have set up their own campuses in Singapore, like University of Adelaide, Chicago Business School, Temple University, James Cook University and other reputed universities have set up their offshore campuses in this region, which has actually helped the students of Singapore to study different courses. This will help to save the cost as well as the time for the students from this region, who will be able to receive the foreign courses from their homeland only (Toh 2014). SWOT Analysis Given below in the Appendix Section (Mehta 2013).
6MARKETING ACROSS CULTURES PESTLE Analysis Political The political scenario of Singapore does not have a lot of risk factors. The country is democratic and cherishes political stability. But there are some problems for the opposition parties regarding free speech. For opening a new campus in Singapore, the University of Hertfordshire may face a few risks. For instance, an initiative by the government may create the risk where the university may fail to exercise the policy or can be diverted away from regional policies. The university must be prepared to be self-financing and self-managing as and when required. Economic Singapore has a very rapid developing economic market with one of the highest per capita income. Although it has some drawbacks in economic performance, several industries are flourishing recently due the government’s investment in diversifying of the economy. In spite of these, the university may face funding problems from the local or central government which in turn will affect the establishment finances of the institution (Subramanianet al 2016). There can be shortage of resources and materials on global markets and risk about over-valued, chief staff moving out for better career and financial options. Moreover, the over provision of areas for educational institution may result in competition from neighbouring universities. Social There is a presence of mix cultural values in the society of Singapore. The residents of the country are hard-working which has helped to develop the nation’s productivity. The literacy rate is quite high and good command over multiple languages prevail which helps in attracting global trade and foreign investment (Huang, Sampson and Chen 2013). Changes in
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7MARKETING ACROSS CULTURES the demography or local population may affect the number of students taking admission in the newly opened campus. Other factors like inadequate and insufficient staff can become a risk factor, due to which the students may feel like looking for better options. Traditional people may also have the tendency to send their wards to local and traditional educational institutions rather than taking admissions in foreign based universities. Technological Advancement in the technology is one of the chief reasons for a change in the lifestyle of people in a country like Singapore. It not only helped to simplify the communication process but also increased connectivity. Social networking was developed, e-commerce had flourished and global companies have set up their regional centres in Singapore just as the University of Hertfordshire has done. Keeping in pace with this advancement of technology, the educational institution must introduce technology based education system. This may also include risk factors such as relying more on online operations, selection of inappropriate technology, threat from new computer viruses, illegal use of technology in the campus and many more (Chew 2014). Legal For the growth and success of any industry or educational institution in a nation, it is very important to have a favourable and transparent legislative system. Some business and regulatory settings are required for proper development of any business. The new university campus may face the risk from new legislation if there is absence compliance or if it becomes a burden. The institution must also cater to the changes related to students’ protection law, health and safety laws etc.
8MARKETING ACROSS CULTURES Environmental The main environmental problem in Singapore is the increasing amount of toxic gases in the air causing pollution. The nation also suffers from shortage of clean and safe water supply.Theseriskfactorsanddifficultiesshouldbetakenintoconsiderationbyan educational institution. The campus should be free from all kinds of pollution and ample green space should be provided for a sustainable environment inside. There should also be proper waste disposal system to keep the campus area clean and green. A scholar can benefit only when there is a suitable study environment apart from infrastructure and efficient staff (Tsai and Hwang 2013). 7P’s Analysis Product The product in this case is the different courses that will be offered to the people of Singapore. It can be stated in this context that business related programmes of study will be offered to the students who are present in the region of Singapore. This will help them to study all the business related courses from their homeland only. This will save both the time from going abroad as well as saving the cost from going abroad and getting the facilities within the region of Singapore only. Price The price of the courses need to be set according to the pricing factor that is followed in the educational sector of Singapore. It has been discussed earlier that educational sector possess a healthy impact on the overall economy of the nation, and the government of Singapore provides 20% of the annual national budget in the educational sector of this region. The prices of the various courses that will be offered by the University of Hertfordshire need
9MARKETING ACROSS CULTURES to be set by keeping in mind the spending capacity of the people towards educational services that are provided in the region of Singapore. Place The University of Hertfordshire needs to be set in the urban or semi-urban area, so that people from all over the region can visit the place and avail the educational courses that will be offered to the students not only from Singapore, but for other parts of the South Asia or South-East Asia, who do not need to travel to the United Kingdom, which is located in a distant place and in a separate continent. Promotion The promotion need to be done on mainly the social media platforms. In this context, it can be said that the popular social media platforms that are used by the people of this region. Platforms like Facebook, Twitter, Instagram, Tumblr, YouTube and other platforms are used in Singapore (Yang and Cheng 2018). Apart from all this, LinkedIn will be an appropriate medium where details of the educational services that will be provided by this university will be provided and at the same time, online registration by the interested students can also be done. People Students need to be identified who will be interested to avail the business related educational services that will be provided by the University of Hertfordshire. Students who are looking to avail these courses and are planning to go abroad need to be targeted and make their students, so that they can successfully penetrate the market and increase the number of students, so that to will help the management of the university to include more courses, which will totally depend on the number of students who will take admission on the courses that will be offered to the students of Singapore (Bhati, Lee and Kairon 2014).
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10MARKETING ACROSS CULTURES Physical Evidence Physical evidence in the educational service will include the classrooms, projectors, desks, chairs, smart boards and other things related to provide educational services in the form of different courses that will be offered by the University of Hertfordshire in Singapore. It can be noted that educational courses that will be offered are services and not any kind of product, so physical evidences will only be the items that can be touched and felt, and by the usage of which the students will be able to learn various courses offered by the University of Hertfordshire (Lo 2014). Process The overall process will involve all the steps that will begin from doing promotional activities and offering the courses to different students within the region of Singapore. The process will end when there will be sufficient number of students available to start the various courses offered by the University of Hertfordshire (Assegaf 2015). Cultural Differences The cultures from these 2 regions differs a lot, as the regions are from 2 different continents. The United Kingdom is treated as one of the economic powerhouse globally, whereas the economic position of Singapore is mostly confined within the region of Asia. Though the economy may face adverse effects in the market place in the context of Brexit, still the region of the United Kingdom will possess a commendable position in the overall market place of educational sector (Mallick, Das and Pradhan 2016). Singapore was once under the British rule, but with their inner skills and capability they positioned themselves from the Third World nation to a First World Country successfully. The culture in the region of the United Kingdom mainly consists of British people, whereas the culture in Singapore consists of European, Asian and Middle Eastern. Thus, it can be stated that the region of
11MARKETING ACROSS CULTURES Singapore possess a mixture of different cultures, which has helped them to successfully position themselves as one of the powerhouse globally (Walker 2012). Action Plan The action plan that need to be followed by the management of the University of Hertfordshire in the region of Singapore efficiently, so that a successful launch of their campus in the following region will help to possess a healthy number if students base, so that the courses can be taught efficiently to the interested students. The first and foremost step that the management need to take is the identification of the proper segment in the educational market place of this region. Students who want to pursue business related courses need to be identified and make them the students of this university, so that a successful penetration can be performed. The identified students need to be provided with proper and ethical information related to the course, so that the interested students will be able to choose the exact course according to their requirement and avail the same from the University of Hertfordshire. The prices related to the courses need to be structured according to the spending capacity of the people of Singapore, so that more students can be targeted and offered the various business related courses to them effectively and help to succeed in their educational as well as professional life (Kent 2017). Conclusion From the overall discussion, it can be concluded that the University of Hertfordshire possess a favourable position along with a good opportunity to expand their university in the region of Singapore and help them to study various business related courses that will be offered by this university to the students of Singapore.
12MARKETING ACROSS CULTURES
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13MARKETING ACROSS CULTURES References Assegaf, A.R., 2015. Policy Analysis and Educational Strategy for Anti Corruption in Indonesia and Singapore.International Journal of Asian Social Science,5(11), pp.611-625. Bhati, A., Lee, D. and Kairon, H.S., 2014. “Underlining Factors in Deciding to Pursue Australian Higher Education in Singapore”–An International Students’ Perspective.Procedia-Social and Behavioral Sciences,116, pp.1064-1067. Chew, P.G.L., 2014. The role of English as a lingua franca in institutions of higher education in Singapore.The Asian Journal of Applied Linguistics,1(1), pp.28-35. Herts.ac.uk. (2019).Hertfordshire Business School. [online] Available at: https://www.herts.ac.uk/study/schools-of-study/business [Accessed 19 Dec. 2019]. Huang, H.W., Sampson, D. and Chen, N.S., 2013. Trends in educational technology through the lens of the highly cited articles published in the journal of educational technology and society.Educational Technology & Society,16(2), pp.3-20. Kent, D.C., 2017. A New Educational Perspective: The Case of Singapore.Penn GSE Perspectives on Urban Education,14(1), p.n1. Lo, W.Y.W., 2014. Think global, think local: The changing landscape of higher education and the role of quality assurance in Singapore.Policy and Society,33(3), pp.263-273. Mallick, L., Das, P.K. and Pradhan, K.C., 2016. Impact of educational expenditure on economic growth in major Asian countries: Evidence from econometric analysis.Theoretical & Applied Economics,23(2).
14MARKETING ACROSS CULTURES Mathew, R. and Balachandran, U., 2018. Comparison of the Educational System in Singapore and India and How India Can Reform Its Current Practices to Improve the Quality of Learning.International Journal of Advanced Research and Development,3(1), pp.245-248. Mehta, J., 2013. From bureaucracy to profession: Remaking the educational sector for the twenty-first century.Harvard Educational Review,83(3), pp.463-488. Subramanian, A.M., Choi, Y.R., Lee, S.H. and Hang, C.C., 2016. Linking technological and educational level diversities to innovation performance.The Journal of Technology Transfer,41(2), pp.182-204. Toh, M.H., 2014. Internationalization of tertiary education services in Singapore.TRADE POLICY IN ASIA, p.259. Tsai, C.C. and Hwang, G.J., 2013. Issues and challenges of educational technology research in Asia.The Asia-Pacific Education Researcher,22(2), p.215. Walker, J.M., 2012. Series Editor John M. Walker School of Life Sciences University of Hertfordshire Hatfield, Hertfordshire, AL10 9AB, UK. Yang, P. and Cheng, Y.E., 2018. Educational mobility and transnationalization. InHigher education in the era of the fourth industrial revolution(pp. 39-63). Palgrave Macmillan, Singapore.
15MARKETING ACROSS CULTURES Appendix SWOT Analysis STRENGTHSWEAKNESSESOPPORTUNITIESTHREATS Nationalreputation within UK Newmarketplace and culture Fresh market placeToughcompetition fromother establishedforeign universities Differenttypesof businessrelated courses Notsopopularin global context MixofBritish culture in Singapore Avoidance due to its expensiveness Successful placement facilities Expensive coursesInterestedbaseof students Languageand cultural differences