Business Plan for TK-Max: A Strategic Approach to Growth in the Student Sector

This business plan outlines a strategic approach for TK-Max, a well-known educational institution in the student sector, to achieve growth and customer satisfaction. It analyzes the organization's strengths, weaknesses, opportunities, and threats (SWOT) and identifies key areas for improvement. The plan includes a PEST analysis to understand the political, economic, social, and technological factors influencing the educational landscape. It also explores the organization's target market, positioning, and segmentation strategies. The 7Ps of marketing mix are discussed, highlighting the need for product innovation, improved promotional techniques, and a more competitive pricing strategy. The plan outlines a detailed operational plan with specific activities and timelines for marketing research, infrastructure development, and promotional campaigns. Finally, it presents a budget allocation for various initiatives, including infrastructure development, online course development, and marketing efforts.

LO3- The
Business Plan

INTRODUCTION
 The organisation TK-Max is one of the well-known names in the
student sector.
 But the organisation needs to satisfy their customers for their
potential growth in the student sector.
 However, the target group of this organisation is the University
students who need extra care for the educational purpose.

1. Business objective
 In a strategic plan for an organisation establishment of business,
the objective will specify the area of goal which the organisation
wants to achieve by developing a proper strategic and
operational plan (Boiko, 2016).
 With the help of this business plan the organisation able to
develop planning which they can utilise in their future days for
achieving the organisational objectives.
 The business objective of this organisation TK-Max is growing the
educational a student sector undeveloped medium and long-term
steps for meeting the expectation of the customers and provide
them satisfaction from the services.

SWOT analysis
Strengths Weaknesses
 The organisation is well known in the student sector.
 A thousand of success student Stories related to TK Max.
 The location of the institution is preferable for the students
because this transportation is easily available.
 The marketing and promotional techniques are missing in this organisation.
 Less modern amenities and old infrastructure is not appropriate for
attracting students (McKenzie, 2017).
Opportunity Threats
 The organisation can also introduce online courses and mock
test for the student's growth and development.
 The organisation can create a new infrastructure system in the
organisation.
 The organisation can introduce new and modern courses for the
students which will help them in attracting many students
(Finch, 2016).
 There are a lot of competitors of this organisation in the education sector.
 The high pricing strategy for the courses is changing the student’s choice.

PEST analysis
 Political factors- The political factors of United Kingdom are very reliable for an
educational institution (Wynne, 2016). However, the stable politics of this country
and government laws and legislation for the student sector has developed the
opportunities for the organisation TK Max.
 Economic factor- The economic inflation rate of this country directly affects the
student factor. However, the Economic growth of the nation is going to help the
organisation to get the number of students who will easily pay for the courses.
 Social factor- The income of the students and their parents usually affects the
organisational growth and development process (Wynne, 2016). If the targeted
customers willing to pay the total course fee then it will have the organisation in
increasing their growth.
 Technological factors- The technological advancement can easily develop the
organisational environment. It is essential in a modern Educational Institute for
having different technological advancement system like computers, Wi-Fi, etc.
Therefore the introduction of this technology will effectively increase the total
number of students.

Targeting, positioning and
segmentation
 The customer segmentation which is being used by TK-Max is
psychological customer segmentation by minimising the course
fee.
 The organisation is trying to create a differentiation for
developing a better position in the educational sector or student
sector.
 Finally, the organisation is targeting mainly the students who are
completed their Bachelors Degree and wants to develop in
further marketing subjects.

7ps marketing mix
 Product or service- for development of the organisational production services the organisation TK
Max has to introduce new courses which are in the trend of the educational market.
 People- the organisation is also already having best experience teachers and stuff as a part of the
operational planning they have to introduce new professor who is aware of the modern style of
educating students.
 Place- The location of the institution is very favourable for the students, and the part of the tragic plan
organisational transportation for the students can be introduced.
 Promotion- the promotional technique is nearly absent in this organisation. However for attracting the
young generation with which are the majority of the students the use of social networking platforms
and the organisational website is appropriate.
 Price- The organisation is always having a high price for their courses. For attracting more number of
students, the organisation will minimise the cost of their courses going to provide a medium cost for
the course fee rather than High Cost (Finch, 2016).
 Process- The organisation is going to develop an online admission process for the new students which
will help the online courses students as well.
 Physical environment- For the development of the physical environment of the institution, new
infrastructure will be developed by the organisation with modern technologies which will be helpful for
the students and staffs of the organisation.

BUDGET
 For the total development of the organisation TK Max, the
organisation is going to use total funding of 4.5 million pounds.
 Another 2 million pound will be used for infrastructural
development and technological advancement process.
 Finally, the other 2.5 million pound will be used for online courses
development marketing and promotional process and for
collaborating with other Institutions in different regions.

Operational plan
Marketing Plan Activities May’18 June’18 July’18 Aug’18 Sep’18 Oct’18 Nov’18
Marketing research
Creation of the marketing plan
Setting up infrastructure
promotional campaigns and
advertisements
Marketing plans outcome
evaluation.