Marketing Mix Comparison of Two Colleges

This document compares the marketing mix of Grantham College and Imperial College, focusing on the product, price, place, promotion, and people aspects. It analyzes the different strategies and offerings of the two colleges.

MARKETING ESSENTIAL

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Introduction to college and its different departments..................................................................1
Key role and responsibilities of marketing function in small college.........................................2
Relationship between marketing and other functional units........................................................3
TASK 2............................................................................................................................................5
Marketing Mix comparison of two colleges................................................................................5
TASK 3............................................................................................................................................8
Marketing plan.............................................................................................................................8
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing is the tool that is used to promote the brand and raise awareness among
consumers (Tripathi, 2016). Present study is based on Grantham College, it is the small size
collage of London. It has limited courses and staff are also limited. Recently company is facing
the issue of declining number of students due to which its sustainability in market is getting
affected to great extent. Current assignment will prepare marketing plan for Grantham College so
that firm can improve its condition and can sustain in the market . Furthermore, study will
include role of marketing and its responsibilities. Department of Grantham College will be
explained in this report, it will also highlight relationship of these departments will marketing
functional unit of Grantham College. Study will compare 7;Ps of college with other collage.
TASK 1
Introduction to college and its different departments
Background of Grantham College
This is the small size college in London that has many courses related to business
administration. It has many educational programs for both undergraduate and post graduate
learners or students. Apart from this, Grantham College also has many engineering, sport courses
hence person can get enrolled in any course as per their interest. Professional pay close attention
on their students so that they get better opportunities in near future (Vezi, 2017).
Departments of Grantham College
This college has many departments; these are explained as below:
 Administration department: this department is responsible for managing documents,
managing admissions of students and handling all the required task related to
administration.
 Accounts department: This is another department of Grantham College which is
responsible for handling fees of students, managing other cost such as salaries to
professors etc (Mohamed, Alhfez and Rahama, 2017).
 IT department: This is important department which arranges technical equipment’s for all
the students such as computers for learners, arrangement of engineering equipment’s,
maintenance of all IT equipment’s etc. so that students can get more knowledge and can
learn new things.
Marketing definition
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Marketing can be defined as process of activities that are used to exchange information of
one company with consumers and make them aware with the features of products offered by
business unit. This is the process that gives positive results to firm by raising productivity and
profitability (Kotler and et.al., 2018).
Concept of marketing
Production concept pays attention on maximum availability of goods and services so that
many consumers get attracted towards the organisation. Product concept believes that product
must have quality so that enterprise can keep its consumers satisfied and can gain competitive
advantage in market. Selling concept states that to enhances sales of company there is need to
spend more money in promotion activities so that more buyers can get to know about company’s
products and take interest in it (Lovelock and Patterson, 2015). Grantham College is planning to
take support of selling and production concept, by this way it will be able to raise awareness
among all students about new courses and its benefits for them so that they take interest in
getting admission in this college.
Key role and responsibilities of marketing function in small college
Grantham College is facing the issue of declining students, as many other big universities
are in London that offers big courses to learners thence they take more interest to go there. Role
and responsibilities of marketing is explained as below:
Conduct market research
This is one of the most important responsibility of marketing department, it plays the role
of researcher. As Grantham College is facing problem of declining number of students hence
overall profit of college is getting down. Through marketing enterprise can get to know issues
faced by learners in the college and why they are moving towards other colleges. Apart from
this, marketing is helpful tool through which Grantham College can get to know the need of
students so that they can offer them bets courses that can give them more professional
opportunities in their career (Chaffey and Ellis-Chadwick, 2019).
Set price
Marketing plays significant role of price setter, as there are many colleges those which
are offering courses at affordable prices whereas some big universities are hers those which are
charging high fees from learners (The importance of marketing in Higher Education, 2019).
Through marketing Grantham College can get to know actual paying capacity of students hence
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entity can set its courses fees accordingly. This would be better for the college in order to attract
new students and raising profitability of company to great extent. Marketing is responsible for
comparing fees charts of one college with others, that helps in making clear comparison between
course material and fees charge by the colleges. Hence students can take right decision to get
enrolled in the Grantham College so that they can get better career opportunities and can
complete their education at affordable fees structure (Chaffey and Ellis-Chadwick, 2019).
Promoting the brand
Grantham College is small size college, it has limited number of student and profit of
college is also limited. Marketing can help the firm in raising its brand awareness among
students and parents. By this way more parents will take interest in this college and by give
admission to their kids in this college (Feng, Morgan and Rego, 2015).
Marketing within B2C and B2B
Through marketing under B2B, Grantham College can raise awareness among students
and can also convenience them to take admission in this college. It will give them education to
learners in classrooms so that they get real life knowledge about business and can get better
career opportunities.
B2C is another form in which Grantham College can use advance technologies and can
offer online course materials to the students. Marketing will support in attracting foreign learners
as well and college will be able to serve to international students as well (Huotari and Hamari,
2017).
Relationship between marketing and other functional units
For the success of business unit, there is need to have close connection between all the
departments of company. If there is strong interrelationship between two functional units then
entity can exchange information easily and can gain success in the market. Grantham College is
facing issue of declining number of students, in order to resolve this problem there is essential to
raise awareness among the people so that they take interest in the services of this college and
take admission in this college as well (McDONALD, 2016).
Administration and marketing department
Both these are most essential functional units of Grantham College. As administration
unit has to manage records of students and also this unit is responsible for managing fees and
other documents of students. This department can communicate information to marketing
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department about declining students so that marketing team can make efforts to raise awareness
among learners so that admission rate can be improved. If administration unit do not perform its
duties well then students will not feel good and they will move towards other college hence
efforts of marketing team will be waste (Shankar and et.al., 2016). If both these units work
together then Grantham College can become able to attract new learners can gain raise number
of students in the college. This would help the college in competing with big universities
successfully.
Accounts and marketing department
These are two different departments that has different duties, but interaction of both these
departments help business in gaining success. Accounts department has to manage fees of all the
students so that other expenses of college can be managed. As college has to pay salaries to
professors and also have to manage cost of maintenance. All these expenses are managed by
accounts departments (French and Gordon, 2015). It keeps records of cash inflow and outflow so
that funds can be managed properly ad college can get sufficient fund for running operations
smoothly. Marketing department ensures that number of students gets increased by conducting
market research and promoting the college. By this way accounts units can get more fees. Apart
from this, if accounts department manage cost well then college will be able to gain profit. Hence
this interrelationship support business unit in gaining success and attracting more students
towards the college (Baltes, 2015).
IT and marketing department
Both these are essential units and contribute well in the success of college. Information
technology unit ensures to have adequate computers, maintenance of all the technical
equipment’s so that students can get advance facilities and can gain more learning opportunities
in the college. This is the best way through which college can raise satisfaction level of students.
That would be better for Grantham College in attracting new students and retaining them in
college for longer duration so that firm can perform between in market. Marketing team conducts
market research and get to know need of students and what kind of courses are here in which
learners have more interest (THE IMPORTANCE OF A COLLEGE MARKETING PLAN, 2015).
By this way IT team improves that technical facilities so that such kinds of courses can be
available for them. This interaction supports Grantham College in gaining attention of students
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which will be better in resolving that issue of declining number of students. This interaction will
help college in raising its productivity to great extent (French and Gordon, 2015).
Critical analyses of this interrelationship
If these functional units fail to interact with other in effective manner, then overall
working of college operations can get badly affected. As if administration units fail to keep
records of students then marketing team will not be able to work more on attracting new learners.
Whereas if they both effectively then Grantham College will gain success in order to attract more
students. On other hand if accounts unit fails to manage funds or fees of learners then marketing
will not be able to raise cash flow because it will not have adequate capital to spend in promoting
he brand hence overall working of Grantham College will get badly affected (Huotari and
Hamari, 2017). Whereas if both these units work together then cash management can be done
effectively that would be better for Grantham College in order to resolve problem of declining
students in Grantham College.
TASK 2
Marketing Mix comparison of two colleges
Marketing mix is the tool which is used by business to ensure adequate strategies so that
overall working and performance of company can be improved.
Elements of marketing Mix Grantham College Imperial college
Product Grantham College offers
many courses related to
business administration,
engineering, technical etc. to
students. The main purpose of
offering variety of courses to
the learners is to gain attention
of mass audience.
Professional of Grantham
College ensure to offer quality
educations to the students
(Lovelock and Patterson,
2015).
Imperial college is the leading
educational institute that
provides facilities to graduate
and post graduate students
across the world. It has many
courses related to
biochemistry, economics,
geology, engineering etc.
Students get career
development opportunities
because college provides them
placement after completing
their educational period in this
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college.
Professors fail to pay close
attention on each student
because there are large
number of students (Tripathi,
2016).
Price Grantham College charges
nominal fees from students, as
being a small size college it
has limited number of
students. Hence it has
implemented price penetration
strategy in which firm charges
nominal fees from students so
that more learners take interest
in the course offer by college
(Mohamed, Alhfez and
Rahama, 20170.
This is the college which is
very popular in the London.
Many students want to get
admission in this Imperial
college. But firm charges high
prices from students. It has
competitive pricing strategy
hence students have to pay
huge fees to get enrolment in
this educational institute. This
has premium pricing strategy
but as it is reputed university
hence students are ready to
pay such high amount for
these courses (Feng, Morgan
and Rego, 2015).
Place Grantham College has direct
distribution strategy that
means it has furnished
collegiate campus where
students come and attend the
classes (Huotari and Hamari,
2017).
Imperial college has many
online sites as well where
students can distance
education as well. Apart from
this, it has well-furnished
classroom where all the
facilities are available so that
learners can get more
knowledge about subject areas
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and can get more opportunities
in new career.
Promotion Grantham College is the small
size college but has good
reputation in the market,
students are getting
satisfactory services in the
college. It promotes the brand
through new pare
advertisement. This is not
suitable technique because
firm fails to reach to mass
audience.
Imperial college also promotes
the brand but it spends huge
capital to promote the brand. It
uses social media and TV
advertisement methods to
promote the brands so that
college can attract new
students and can make them
positive towards the college.
This is the best way that may
help the firm in gaining
success in market
(McDONALD, 2016).
People Teachers are Grantham
College are well educated.
College always give attractive
pay to its professors so that
they like to serve in this
college and serve students
well. Staff members of
college takes care of students’
progress but sometimes they
feel to provide them career
development opportunities
because of availability of lack
of resources (Lovelock and
Patterson, 2015).
Professors of Imperial college
are well trained and they work
to get monetary benefits in the
college. College is offering
them amazing pay that
motivate them. Apart from
this, college offers them travel
allows that help them to fulfil
their needs.
Process Administrative system of
Grantham College is not so
Imperial college has smooth
process, students can pay their
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smooth; students have wait in
long que to get their
admission. Apart from this,
administration department do
not treat its students well and
learners have to face lots of
difficulty to pay the fee
(French and Gordon, 2015).
fees online and they get
immediate resolution of their
quarries. Apart from this,
process of acquiring service is
very smooth, management
works so hard to serve
students well. This is the way
that helps the firm in
performing well in market and
retaining students and making
them satisfied.
Physical evidence It is normal facilities for
students, infrastructure is also
normal (Shankar and et.al.,
2016).
This college has attracting
well organised infrastructure.
TASK 3
Marketing plan
Marketing plan is the process which is used by business to improve its current positon in
the market and to perform well in such highly competitive environment.
Importance of marketing plan
Marketing plan gives huge benefit to business unit as Grantham College can raise brand
name of its university and can again attention of students through effective marketing planning.
This is very important in order to raise brand value and also support the organisation in
sustaining in market for longer duration. It develops its market position and helps in performing
well in the market as compare to its other competitors (The importance of marketing in Higher
Education, 2019).
Marketing plan and objectives relations
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There is strong interrelationship between marketing strategies and company’s objective.
As one of the major objective of Grantham College is to develop its brand name and attract more
students so that issues related to declining number of students can be resolved in collage. This
objective can be accomplished by using effective marketing tactics (Shankar and et.al., 2016).
By using significant produce, pricing strategy enterprise can make the students positive and can
enhance their interest to take admission in this Grantham College. Whereas if marketing
strategies of the firm is not good then kit would not be able to serve its leaners well or meet their
needs. In such condition students will take more interest in other colleges and issues of declining
students will not be resolved. Hence there is need to have great marketing tactics so that overall
goal of Grantham College can be met and enterprise can gain attention of more learners to
sustain in market for longer duration.
Stages of marketing plan
Executive summary
Marketing plan is set of activities which is used by business to meet its organisational
goal. Grantham College wants to attract new students in order to raise its profitability and gain
competitive advantage in market (Huotari and Hamari, 2017).
Goal, vision, mission
Mission of Grantham College is to retain its students and serve them best so that they can
get better job opportunities in near future. Objective of Grantham College is to enhance number
of students so that collage can run its operations in smooth manner. Visions of Grantham College
is to improve its educational services and implement new ideas of education so that more
students take interest in getting admission in this collage (Mohamed, Alhfez and Rahama, 2017).
 To enhance number of students by 30% till the end of 2020.
 To involve 3 more courses in collage to serve the learners well.
Situational analyses
This is the model or tool that is used by each business to understand its internal and
external market situation. To understand the internal situation SWOT analyses is done.
SWOT analyses
Strength
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 Grantham College has organised successful events in past that is why many people have
positive image about this collage, such successful events have improved brand image of
this collage.
 Fees structure of Grantham College is nominal, there are many big universities those
which are charging high fees from students but Grantham College is charging normal
fees from its learners so that more students take interest in this educational institute.
 Traditional methods of teaching are used in Grantham College, this is the strength of
company because by this way it becomes able to pay close attention on its learners
(Kotler and et.al., 2018).
Weakness
 It has limited professors which is the major drawback of collage, as it has limited size
hence collage can not afford hiring large number of teachers. Due to which sometimes
students fails to get services from teachers. That shows understaffing is the major
problem in this collage. Due to understaffing limited number of staff is available at
administration department hence students have to wait for longer duration to pay their
fees and get required services (Chaffey and Ellis-Chadwick, 2019).
 Poor infrastructure is another drawback of this collage, as Grantham College has limited
resources due to which it is unable to spend much amount in development of
infrastructure.
Opportunities
 Grantham College can get involved into online services, as it can offer online educational
courses to the students, by this way firm will be able to gain attention of international
learners as well. This will help in resolving issue of declining students.
 Grantham College has opportunity to add more courses for al level of students, by this
way it will be able to retain the person in collage for longer duration.
 It can offer better employment opportunities to its students so that they can make their
bright career, this will help Grantham College in raising its brand awareness which will
attract more students towards it (Feng, Morgan and Rego, 2015).
Threats
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 Limited public funding is the major threat to the Grantham College, as government has
reduced the funding for collage, now it is very difficult for the educational institute to
manage all the expenses in such small funds.
 Growing competition is another major threat for the Grantham College, Imperial collage,
Oxford universities are offering such amazing services to the students hence interest of
students is high for them. Such condition is creating problem for Grantham College to
sustain in market for longer duration.
Pestle analyses
This is the process which is used to analyses company’s position in external market.
 Political factor: Privatisation is creating problem for Grantham College. Changes in
policies sometimes change the priorities. Government is reducing public funding for
universities hence this is the major problem because it affects operational efficiency of
the collage (French and Gordon, 2015).
 Economic factor: This is the element that affect working of collage to great extent,
changes in economic policies making educational sector less attractive. As students are
unable to get pay off facilities on their educational loans hence they do not take much
interest in making career in this field.
 Social factor: Educational level of UK is very high; people like to get advance knowledge
that may help them in making bright career. But sometimes economic condition of
person makes them unable to complete their education that affects number of students of
Grantham College.
 Technological factor: People like to get admission in such colleges where online teaching
facilities are available or many advance technologies are used to get more knowledge. If
Grantham College uses such advance technologies, then it will be able to attract more
student
 Legal factor: Wages rates for teachers, health and safety legislation impact on working of
Grantham College. If government enhances wages rate, then Grantham College would
not be able to bear such high expenses hence it will have to restrict its workforce which
will impact on quality (Baltes, 2015).
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 Environmental factor: Grantham College ensures to have waste disposal polices and also
local bus system is used to manage pollution. This supports the firm in fulfilling is CSR
responsibilities that improves its market image.
Marketing mix
For raising number of students Grantham College needs to implements effective
marketing mix strategies:
 Product: It will have to involve visual class so that more students take interest in its
services. Furthermore, they will be more courses related to agriculture, geology so that all
level of students can take interest in this collage (The importance of marketing in Higher
Education, 2019).
 Price: It will have to use competitive pricing tactics, that would be better for Grantham
College in sustaining in such competitive market for longer duration successfully.
 Place: It will have to teach students through online platform and also have to give
classroom facilities.
 Promotion: Grantham College will promote the collage through social networking sites,
that would be cheaper and will be able to gain attention of mass audience.
Financial planning
1St year 2nd year 3rd year 4th year 5th year 6Year
Money required initially 12500 15000 17000 20000 21000 25000
total cash inflow 12500 15000 17000 20000 21000 25000
expenses
advertisement 1500 1600 1600 1700 1800 1900
salaries of teachers 2500 3000 3000 3200 3500 3700
rent of college 3000 3000 3000 3200 3200 3200
other expenses 5000 6000 6000 7000 7000 7500
total cash inflow 12000 13600 13600 15100 15500 16300
Net cash flow 500 1400 3400 4900 5500 8700
STP
This is the next phase of marketing planning in which Grantham College will ensure to
have clear segmentation, positioning and targeting strategies so that it can meet its marketing
objective successfully.
 Segmentation: Grantham College will use demographic segmentation tactics, it will focus
on age criteria and will attract teenagers those who want to complete their graduation in
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business administration. Gender will be another criteria, as male and female both
candidates will be targeted and female candidates will get additional discounts ion the
collage (McDONALD, 2016)
 Targeting: Differentiated marketing approach will be used by Grantham College. This
tactic will give best result to Grantham College and will help in gaining attention of
specific target consumers towards the collage.
 Positioning: it will use cost positioning tactics that would be better in getting positive
outcome to Grantham College (Shankar and et.al., 20160.
Monitoring and controlling
There is need to have close monitoring over entire marketing planning process so that
issues can be rectified on time and positive outcome can be received. KPI such as benchmarking
will be used to monitor the success rate of this marketing plan. Apart from this audit will be done
in Grantham College so that cost can be controlled and overall profitability of Grantham College
can be raised.
CONCLUSION
Above study can be summarised as marketing us the major tool which supports companies
in resolving their problems and meeting their organisational goal. Success of collage is highly
deepened upon the marketing activities apply by business. there is need to have effective
Marketing mix tactics so that more students can get to know about this collage and take
admission in this college. This would be better for Grantham College to resolve its problem of
declining number of students. Firm needs to improve its training or classroom facilities so that
more students will get attracted towards it which will be better in sustain in the competitive
market for longer duration.
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Feng, H., Morgan, N. A. and Rego, L. L., 2015. Marketing department power and firm
performance. Journal of Marketing. 79(5). pp.1-20.
French, J. and Gordon, R., 2015. Strategic social marketing. Sage.
Huotari, K. and Hamari, J., 2017. A definition for gamification: anchoring gamification in the
service marketing literature. Electronic Markets. 27(1). pp.21-31.
Kotler, P. and et.al., 2018. Marketing management: an Asian perspective. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
McDONALD, M. A. L. C. O. L. M., 2016. Strategic marketing planning: theory and practice.
In The marketing book (pp. 108-142). Routledge.
Mohamed, A. A., Alhfez, A. M. and Rahama, M. E., 2017. Effect of Different of Level Locust
Meal on Growth Preformance of Nile Tilapia (Oreochromis niloticus) Fry (Doctoral
dissertation, Sudan University of Science and Technology).
Shankar, V. and et.al., 2016. Mobile shopper marketing: Key issues, current insights, and future
research avenues. Journal of Interactive Marketing. 34. pp.37-48.
Tripathi, V., 2016. Impact of Online Marketing on Teenagers in India. International Journal of
Social Sciences and Management. 3(4). pp.277-280.
Vezi, F. C., 2017. The influence of marketing communication on students' decisions to enrol at
Technical Vocational Education and Training colleges in KwaZulu-Natal (Doctoral
dissertation).
Online
THE IMPORTANCE OF A COLLEGE MARKETING PLAN. 2015. [ONLINE]. AVAILABLE
THROUGH < https://www.eventmarketer.com/partner-content/the-importance-of-a-
college-marketing-plan/ >
The importance of marketing in Higher Education. 2019. [Online]. Available through <
https://www.u-planner.com/en-us/blog/the-importance-of-marketing-in-higher-education
>
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