Consulting in Practices for LSST: Overcoming Competition and Enhancing Brand Awareness
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This report focuses on the problem of competition and low brand awareness faced by LSST, a London-based education institute. It includes research, analysis, and solutions to overcome these issues and enhance the brand image of the institute.
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Consulting in practices
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Contents INTRODUCTION...........................................................................................................................1 MAIN BODY..................................................................................................................................1 Problem Statement.......................................................................................................................1 Research......................................................................................................................................2 Analysis.......................................................................................................................................2 Solutions......................................................................................................................................3 Outcomes.....................................................................................................................................4 Handover......................................................................................................................................5 REFERENCES................................................................................................................................6
INTRODUCTION Marketing strategy can be descried as game plan of business that allow them to research about consumers and also allow them to turn them into customer for purpose of their products and service (Brent and Blackman, 2022). A marketing strategy includes value proposition of company, its brand message, data of customer demographics and other things. There are different methodthroughwhichacompanycanadoptconductitsmarketingstrategylikedigital marketing, brand campaign and other things which allow them to attain their goals. Brand campaign and other methods helps company to differentiae its products from other organisation. This project report includes study of LSST which is a London based education institute that provide education benefits to number of students.It is a report that cover different problem faced by firm and also solution in order to overcome of it. MAIN BODY Problem Statement LSST is a London School of Science & Technology which is a privately management education institution that provide its service in academic sector. It has around four campus like Wembley, Luton, Aston and Elephant and Castle. There are around 4000 students are studying there different courses for business management, IT and computing, Health and social care and other things. In this institute, students are feeds are Paddie through public purse and also through student loan (Bruccoleri and Riccobono, 2018). This organisation is aiming to provide support to individual students who are from different abilities, background as well as aspirations that allow them to fulfil potential for business through learning and achievement. It is an organisation which wants to be recognised as leafing for higher education that inspiring and make people free fromlearningbarriers.Itisprovidingdifferentvaluestostudentslikeprofessionalism, excellence, accountability and transparency. It is one of biggest collage in UK and there are different issues faced by this institute in recent years due to competitive market. One of major issues faced by LSST is related to Brand Awareness as market become more competitive. Brand awareness is one of important method which allow them organisation to increase awareness of its products in market and also for increasing values for organisation. It can be attained by company as it create impact over different areas as well as students. It is one of important marketing issues as increasing brand awareness allow company to make their 1
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products known for customers. It work as basis for further step that is brand promotion. It is importantinordertoattainedgoalsandobjectivesofcompanyandallowcompanyto differentiate its products from other products and service. It allow firm to overcome of competition which is faced by LSST due to increasing competitiveness in market. Another issues faced by firm is that there are various new marketing players are enter in this industry due to which competition has increased in market (Burd, 2019). It is important for a business to overcome of competition as it create negative impact over profitability and marketing share of company.For this, company is not able to reach to customers to share their message that their collage has various facilities for students. In order to overcome of it, company needs to develop digital marketing campaign that allow them to increase brand awareness. Research Research is conducted for purpose of collection of information related to specific organisation and other things. There are different types of source of data is used for purpose of collection of data and information. For the research of LSST, primary source of research is conducted. Primary research is one in which a person college original data through interview, questionnaire and other method (Cushman, 2020). This research include data of questionnaire in which different types of question has asked to individual to get right information. Analysis On basis of data and infraction collected from primary data, it can be analysed that problem faced by LSST is related to entrants of new firm in market and also for brand awareness. Brand awareness play important role for purpose of increase customers for business. It also allow business to attract number of customers towards their business and also to increase marketing share of organisation. In order to overcome of this, LSST can adopt digital marketing campaign that is one of efficiency method. It allow business for purpose of understanding different problem of market and also allow firm to understand which strategy to be developed by them to overcome of competition. There are different factors present in market create impact over business and its performance (Kang and Yang, 2020). Competition is threat for any business as competitors adopt strategy which attract customers of business towards them. New entrants also come with new technologies and efficient that also increase competition of firm. In order to overcome of these problem, business can develop digital marketing campaign that allow them to use technologies and also to increase reach of business to customers. It allow firm to use data of 2
customers in order to understand their present and also allow business to satisfy them in effective manner. On basis of questionnaire, it is analyse d that there are increasing demand of new courses and new entrants are offering those course to its customer. For this, business needs to adopt digital marketing campaign that allow them to aware customers about new facilities and course to business (Li, 2019). Current business plan focus on increasing numbers of customers for business on basis of different promotional strategies. It is also focusing on developing strategies for new entrant in market that allow them to overcome of competition. Current marketing plan also allow firm to make change in their strategies as business should use digital technologies in order to increase brand awareness and also for overcome of competition. Solutions As per above explained secondary research, it is recommended to theLondon School of Science & Technology (LSST)that is privately manages collage and provide course of business and management, health and social care and IT as well as Computing that help campus to operate its operations in efficient manner and lead its operations towards growth and development. Some solutions are explained below: It is recommended toLondon School of Science & Technology (LSST) to conduct digital brad campaignsthat is related to marketing organisational courses across various digital marketing channels that enable business to engage higher number of customers and improve overall reputation of organisation. It provides competitive advantages to college through differentiating it from others (MacQueen, 2020). Through secondary research it is analysed thatLondon School of Science & Technology will get various advantages throughconducting digital campaigns. Through these campaigns, college can target right andpotentialcustomersinlimitedperiodoftimebymaintainingfrequent communication. As per the report of secondary research, it is identified that the college uses various digital media platforms such as Facebook, Instagram, Twitter and other as in current days’ customers are active on various social media channels. London School of Science & Technology also need to adopt traditionalmarketing strategies to influence and persuade audience like advertisement, pamphlets as well as other mediums. Advertisement through radio and newspaper have limited customer reach because now these days’ customers not preferred reading newspaper (Mioara, Catalina and Alina, 2021). Instead of that they swipe mobile applications and watch short videos 3
to get information and news. From the secondary research, it is analysed that sometimes implementing traditional marketing strategies helps college to enhance brand awareness as well as influence them.London School of Science & Technology is suggested to implement other marketing strategies like offeringscholarships, provide discounts on fees and other techniques that attract students towards college and maintain organisational differentiated image in market(MnisriandMavoori,2019).Scholarshipsattractsexcellentstudentsthat enhances overall standard of college through raising overall cut-off percentage for admission purpose. Ansoff growth matrix:Ansoff matrix is defined as the strategic planning tool that provides framework to manager of organisation to devise future growth strategies. It includes for growth strategies that are mentioned below: Market penetration is related to the selling organisational existing products and services in existing market place. It is used to expand market share and profits. Market development is related to selling existing products and services in new market place. Organisation need to conducts marketing campaign to enhance market awareness. Product development consist introducing new and differentiate products and services in existing market place (Reisman, 2020). Differentiation strategy consist selling new product in new market place. It requires higher investment and promotional activities. London School of Science & Technology need to both market and product develop growth strategies that enable college to enhances market share and customer base. Product development helps college to bring new courses for students and market development help to attract higher market share of different segments through conducting digital marketing campaigns. Outcomes As there are various solutions or recommendations are provided toLondon School of Science & Technologyto overcome the problem of low brand awareness and competition (Røhl, Elmholdt and Meier, 2020). In all these suggestions, digital brand campaign is the most appropriate solution that must be adopted by college because it enables it to use twitter and Instagram that enhances college to reach large number of audience and spreading awareness 4
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among them regarding college courses and other aspects. Through adopting this solution, college can attract millennials as well as influence them to take admission in educational courses of London School of Science & Technology. It helps college to resolve the problem of brand awareness and marketing in appropriate manner and plays important role in enhances admission number in college. As college facing the problem related to competition in market so, college need to conduct market campaigns to gain customer insight, understanding their behaviour that enable the college to provide suitable courses to students as per their needs and requirements (Soen and De Ridder, 2021). It is important for the college to offer various new course that could be full time course or diploma course that attract the millennials towards institute.London School of Science & Technology can use social media marketing as well as email-marketing that enhances college brand awareness in market and provide competitive advantages overall educational institutions. Handover As per the above solution and recommendations, it is analysed thatLondon School of Science & Technologyneed to start at least 5 new courses for the students that are preferred by them as a career option. It is essential for college to provide flexible educational services to students that enable them to continue their studies with part time working. It helps college to attract large number of students and maintain differentiate reputation of college. Flexible timing as well as attendance system need to adopted by the college to retain higher number of students. Along with that, it is important for college to use social media to provide necessary information to audience and attract them towards courses of institute. Effective implementation of social media campaigns provides various benefits toLondon School of Science & Technology such as identifying the requirements of customers and current market trends. 5
REFERENCES Books and Journals: Brent, M. and Blackman, R., 2022. Ethics Consulting in Industry.A Companion to Public Philosophy, pp.381-387. Bruccoleri, M. and Riccobono, F., 2018. Management by objective enhances innovation behavior: an exploratory study in global management consulting.Knowledge and Process Management,25(3), pp.180-192. Burd, M.B., 2019. Build and improve business processes for evaluation consulting.New Directions for Evaluation,2019(164), pp.69-80. Cushman, P., 2020. Two worlds or one? Politics inside and outside the consulting room.Psychoanalysis, Self and Context,15(3), pp.218-226. Kang, Y. and Yang, K.C., 2020. Employing digital reality technologies in art exhibitions and museums: A global survey of best practices and implications. InVirtual and augmented reality in education, art, and museums(pp. 139-161). IGI Global. Li, J., 2019. Best Practice: Management Consulting and the Ethics of Financialization in China.Journal of International and Global Studies,10(2), pp.136-138. MacQueen, J., 2020. Working with Organizational Culture: Ideas About Consulting. InThe Flow of Organizational Culture(pp. 175-198). Palgrave Macmillan, Cham. Mioara, J.E., Catalina, T.S. and Alina, T.P., 2021. A Comparative Analyses of Educational Leadership Practices in European Countries: The Role of Neuroleadership Consulting Services.Risk in Contemporary Economy, pp.54-61. Mnisri, K. and Mavoori, H., 2019. Creativity and managerial practices within communication consulting agencies (CCAs).Recherches en Sciences de Gestion,131(2), pp.29-59. Reisman, L.M.G., 2020. Strategizing for Social Good: How Consulting Shapes the Nonprofit Sector. Røhl, U.B.U., Elmholdt, K.T. and Meier, N., 2020. Digital data at work: Management consulting, Public government and Healthcare compared. Soen, V. and De Ridder, B., 2021. Practices of Applied History: Between Docutubes and Historical Consulting. 6
Submitted in part fulfilment of BM562module projects 7
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BM562 CW1 Project Portfolio2021-22 Exploration and agreement of the brief from firstmeetingwith client Date: Present: Absent: What is the problem(s) or issue that the client needs to address? The client is needed to address the problem of entrance of new firm and creation of brand awareness of LSST in a successful manner in order to accomplish the targets and objectives of the organisation effectively. Why is s/he focusing on this problem? The issue of brand awareness is being concentrated as the university is expected to foster its brand for enhancing brand awareness. Further background information about the company/competitors/customers etc, relevant to the problem LSST is a university offering education to the students who belong to age group of 17 to 34 years. The university is a hub for excellence in providing education as well as support to students. Competitors include Center for Court Innovation, The GAVI Alliance, Arizona Commerce Authority, etc. Key deliverables/What would be a ‘successful’ outcome for the client, by the end of the project? When such problem will get solved, the client get favourable results including increment in students as well as promotion of brand for enhancing profitability. Concerns/limitations raised by the client (e.g. costs, client availability)
The key limitation is of time for clients and it should get resolved within 3 months in order to get more and more admissions in this year. Another drawback is of cost as LSST has 24000 pounds only to execute solution in an effective way for the respective problem. Concerns raised by the consulting team The key concern has raised is of selecting an alternative among the other available options for the purpose of creation of brand awareness campaign successfully that involves digital marketing, advertisements, etc. What actions were agreed and what are the deadlines for these? ï‚·To communicate in an effective manner. ï‚·Group formation ï‚·To get familiar with LSST brand and business ï‚·To deliver education in a professional as well as timely manner. ï‚·To give constructive comments ï‚·Access to additional clarifications for answering different queries. The action is agreed for adoption of digital medium to create brand awareness campaign in order to capture a large number of students towards it within less time period. The deadline for meeting it is 31stJuly 2022. Next client meeting date (or schedule of dates). 1stJune 2022. Submitted in part fulfilment of BM562module projects 9
BM562 CW1 Project Portfolio2021-22 Project plan Note: Although you do not need to create a full Gantt chart, you still need to show clearly which tasks are to be undertaken, by when and by whom. Two updates on the original project plan should be inserted in your portfolio too. Submitted in part fulfilment of BM562module projects
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BM562 CW1 Project Portfolio2021-22 Partnership agreement This should contain the detailed ground rules and performance management processwhich your teamwill follow, to ensure all consultants in theteam are performing. Guidance for developing this will have been given in lectures. You may use the agreement that you developed in Semester One, or add to this with the agreement of all members of the team. PARTNERSHIP AGREEMENT It is hereby agreed between LSST and Marketing Company that the respective agreement shall be terminated automatically at the time of attaining its purpose. The main target or objective of such kind of agreement is creation of a brand awareness campaign in a successful manner for LSST by 31stJuly within the cost of 24000 Pounds. Any breach of such agreement shall hold the party responsible for penalty of 40000 Pounds as well as aggrieved party shall receive penalty amount within 10 days from date of breach.
Submitted in part fulfilment of BM562module projects
BM562 CW1 Project Portfolio2021-22 Minutes of team, client and supervisor meetings It is fine to develop your own templates, but the minimum information required is; Minutes of (Team/Client/Supervisor) Meeting(state which it is) Date: 1stMay 2022 Present: 10 Absent: 2 Minutes of last meeting Are these accepted as a correct record?Yes Brief summary of any points arising Agenda 1 For creation of brand awareness campaign 2 For recognising problems pertaining to non creation of brand campaign 3 For using a digital medium in order to promote brand 4 To look for the best outcomes and advantages through the creation of brand campaign. 5 etc. For each agenda item: Key points ï‚·Such campaign shall include digital campaign for capturing a large number of people in less time. ï‚·This campaign will facilitate in mitigating disparities and assist in brand development of LSST Actions agreed and deadlines ï‚·University shall use email marketing and social media for brand awareness
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ï‚·Deadline to create campaign is 31stJuly 2022. Any other business N.A. Date of next meeting 1stJune 2022. Submitted in part fulfilment of BM562module projects